Merger plans of two Saudi Arabian companies that would have resulted in the creation of a chemical firm with about $5.8 billion in market value have been put on hold, according to reports.
Shares for Saudi International Petrochemical and Sahara Petrochemicals sunk after the firms decided to delay their plans; in a statement, the companies said they could not agree on the structure of the transaction, adding that current regulations would make it difficult for the transaction to proceed.
The news was a blow to the Saudi Arabia market, which has seen an 83 percent decline in merger and acquisition activity this year, according to Bloomberg data. The two companies first announced last December plans for a share-swap deal.
Full content: Businessweek
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 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