The European Commission has reportedly issued a statement of objections to the PVC manufacturers planning a joint venture, say reports.
The $5.8 billion partnership between Ineos Group Holdings and Solvay, the EU’s largest PVC makers, were already under investigation by the Commission since last November for the deal. Since, Ineos told reporters that a formal statement of objections has been sent regarding the partnership.
The EU authority first raised concern over the deal’s effect on harming competition in the bleach and suspension-PVC resin industry; the products are used to make window frames and pipes, say reports.
The Commission has until April 4 to rule on the deal. Ineos said the companies will continue to work with the Commission.
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
ConocoPhillips Acquires Marathon Oil for $22.5 Billion in Major Energy Sector Consolidation
May 29, 2024 by
CPI
Judge Denies Amazon’s Bid to Dismiss FTC Lawsuit Over Prime Membership Practices
May 29, 2024 by
CPI
Germany and France Advocate for Major EU Competition Reform
May 29, 2024 by
CPI
Equifax Accused of Monopolizing Employment Verification Market in New Suit
May 29, 2024 by
CPI
Car Battery Makers to Challenge EU Cartel Charges in Brussels
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI