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.
Full Content: Market Watch
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI