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Germany/US: Feds thwart Veyance rubber merger

By  |  November 6, 2014

Germany-based Continental has reportedly hit a potentially devastating roadblock in its plans to acquire US rubber company Veyance Technologies.

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    Reports say US regulators reviewing the deal have raised concerns about its impact on competition; Continental, which announced plans to acquire Veyance for $1.75 billion last February, declined to comment on the reports.

    The takeover would be one of Veyance’s largest-ever acquisitions, and would catapult the auto parts and tire manufacturer into a dominant market position, according to reports. The German company has already offered to divest some Veyance assets to secure clearance for the deal.

    Despite reports of a regulatory challenge, Continental said it still expects to finalize the merger by the end of the year.

    Full content: Reuters

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