A PYMNTS Company

France/US: Glass co challenges FTC with merger plans

By  |  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.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Market Watch

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

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