UK watchdog probes AkzoNobel's $25 billion Axalta merger
UK watchdog probes AkzoNobel's $25 billion Axalta merger Sept 17 (Reuters) - Britain's competition watchdog launched on Thursday a probe into Dulux paint maker AkzoNobel's AKZO.AS $25 billion merger with rival Axalta AXTA.N to assess whether the deal would lead to a substantial lessening of competition in the UK.
Additional details:
The Competition and Markets Authority (CMA) set November 11 as the deadline for its Phase 1 decision, and will assess whether the transaction would create a relevant merger situation under the Enterprise Act 2002.
Last November, AkzoNobel announced plans to merge with Axalta Coating Systems in a deal that would create a combined company with an enterprise value of $25 billion.
(Reporting by Neeshita Beura in Bengaluru; Editing by Sherry Jacob-Phillips)
((Neeshita.Beura@thomsonreuters.com))
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