BASF: EU opens in-depth inquiry into Solvay deal
(CercleFinance.com) - The European Commission said on Wednesday that it has opened an in-depth investigation into whether the proposed acquisition of Solvay's nylon business by Germany's BASF would lead to higher prices or less choice for European consumers.
The Commission said that it is concerned that the merger may reduce competition in the supply of key inputs for nylon, which is used in products such as clothes, sports shoes and carpets.
The proposed transaction would create a key player in the nylon compounds market, with a market size that is almost double that of the closest competitor, the Commission said.
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The Commission said that it is concerned that the merger may reduce competition in the supply of key inputs for nylon, which is used in products such as clothes, sports shoes and carpets.
The proposed transaction would create a key player in the nylon compounds market, with a market size that is almost double that of the closest competitor, the Commission said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.