EU Antitrust Regulator Suspends Dow-DuPont Merger Review
09 September 2016 - 1:42PM
Dow Jones News
By Natalia Drozdiak
BRUSSELS--The European Union's antitrust regulator on Friday
said it had suspended its deadline for a review into the proposed
merger of Dow Chemical Co. and DuPont Co. because the companies
hadn't submitted important information demanded of them.
"The commission has stopped the clock in its in-depth
investigation into the proposed merger between Dow and DuPont,"
said European Commission spokesman Ricardo Cardoso. "To comply with
merger deadlines, parties must supply the necessary information for
the investigation in a timely fashion."
The EU in August opened an in-depth probe into the merger on
concerns the combination may reduce competition in crop protection,
seeds and certain petrochemicals.
The proposed merger, disclosed in December, would unite the two
companies with a combined market capitalization of roughly $122
billion, before splitting into three separate companies. Dow and
DuPont in July privately outlined concessions to EU authorities to
address antitrust concerns in the bloc.
Once the companies submit the requested information, the
commission will then restart the clock on its merger review. The
commission's most recent deadline for the review had been set for
early 2017.
Write to Natalia Drozdiak at natalia.drozdiak@wsj.com
(END) Dow Jones Newswires
September 09, 2016 07:27 ET (11:27 GMT)
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