UK CMA Launches Probe Into AkzoNobel's $25 Billion Axalta Merger
Competition Watchdog Investigates Potential Impact of AkzoNobel-Axalta Merger
Overview of the CMA Probe
Sept 17 (Reuters) - Britain's competition watchdog launched on Thursday a probe into Dulux paint maker AkzoNobel's $25 billion merger with rival Axalta to assess whether the deal would lead to a substantial lessening of competition in the UK.
Key Details of the Investigation
Additional details:
CMA's Timeline and Legal Framework
• 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.
Background on the AkzoNobel-Axalta Merger
• 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 Credits
(Reporting by Neeshita Beura in Bengaluru; Editing by Sherry Jacob-Phillips)
