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France/US: Glass co challenges FTC with merger plans

 |  July 3, 2013

Despite the US Federal Trade Commission’s opposition to the deal, glass and construction materials company Saint-Gobain, based in France, announced it would fight to finalize its merger with rival Ardagh Group. The buyout of Saint-Gobain, which is valued at $1.7 billion, raised antitrust concerns within the FTC, which issued a complaint arguing the deal would reduce competition. While Saint-Gobain said in an official statement that it is “disappointed” in the FTC’s disapproval, it would continue to “vigorously defend” the buyout – in court, if necessary. According to reports the deal would be Ardagh’s third acquisition in the glass market in just over a year’s time.

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