FTC Challenges Ardagh's $1.7B Bid For Glass Manufacturer

Law360, New York (July 1, 2013, 6:58 PM EDT) -- The Federal Trade Commission on Monday sued to block glass and metal packaging company Ardagh Group SA’s $1.7 billion bid for the North American packaging unit of France’s Saint-Gobain SA, alleging that the deal would spike prices for beer and spirits bottles.

In an administrative complaint, the FTC said the proposed deal would consolidate the world’s second- and third-largest glass container manufacturers, leading to a 75 percent market share between the newly created company and its only real competitor, Owens-Illinois Inc., in violation of U.S. antitrust...
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