UK Competition Watchdog Bars Akzo's Metlac Takeover

Law360, New York (December 21, 2012, 1:54 PM EST) -- A U.K. antitrust watchdog decided Friday to block Akzo Nobel NV's bid to takeover rival Metlac Holding Srl because the combination would likely reduce competition for metal packaging coatings used in beverage cans.

The U.K.'s Competition Commission stuck by its preliminary conclusion that the tie-up would substantially lessen competition for the can coatings and said it had no choice but to block the deal.

"The CC has found that the only remedy likely to be effective in addressing the [significant lessening of competition] is prohibition of...
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