UK watchdog probes AkzoNobel's $25 billion Axalta merger

By Reuters News

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.

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