Corrected: Conditional EU antitrust approval expected for AkzoNobel, Axalta deal, sources say
CORRECTED-Conditional EU antitrust approval expected for AkzoNobel, Axalta deal, sources say Corrects to asset for sale belonging to AkzoNobel, not to Axalta, in paragraph 2
BRUSSELS, Oct 8 (Reuters) - EU antitrust regulators are expected to clear with conditions the $25 billion merger of Dulux paint maker AkzoNobel AKZO.AS and US peer Axalta Coating Systems AXTA.N after a preliminary review, people familiar with the matter said.
The companies plan to offer to sell AkzoNobel's vehicle refinish business to address competition concerns, people said.
The companies announced the deal in November last year, underscoring a wave of consolidation among paint makers to save money in the face of rising costs and amid uncertainties created by US President Donald Trump's tariffs.
(Reporting by Foo Yun Chee; Editing by Jan Harvey)
((foo.yunchee@thomsonreuters.com; +32 2 585 2866; Reuters Messaging: foo.yunchee.thomsonreuters.com@reuters.net))
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