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Luxembourg: Glassmakers look to settle with US regs over $1.7B buyout

 |  December 18, 2013

Luxembourg-based glass product manufacturers Ardagh Group and Verallia North America have reportedly proposed a settlement with the US Federal Trade Commission regarding their $1.7 billion plans to merge, say reports.

The FTC motioned to block the merger citing anticompetitive results. But the companies this week have offered to divest six glass plants in the US to quell such concerns.

In a filing, the FTC appeared open to the offer, but noted that it “warrants further evaluation.” The regulator first lodged a complaint against the proposed buyout of Verallia by its current owner Saint-Gobain earlier this year. Authorities cited concerns regarding the beer and liquor bottle market.

Full Content: Bloomberg

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