A PYMNTS Company

EU: Chemical giant barters to secure $1B buyout

 |  July 30, 2014

US-based chemicals conglomerate Huntsman has reportedly offered more concessions to EU regulators in efforts to win approval to acquire Rockwood Holdings assets.

Reports say Huntsman, which is looking to acquire Rockwood’s titanium dioxide pigment operations for $1.1 billion, has submitted its third round of concessions to the European Commission since the regulator first began investigating the acquisition plans in March. The Commission announced the new offer on Wednesday but did not elaborate on what the concessions offered entailed.

If the deal is approved, Huntsman would secure a position as the largest processor of sulphate ores, and the second-largest producer of titanium dioxide.

The Commission has until September 18 to rule on the merger.

Full content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.