EU Greenlights UK Chemical Co.'s $824M Omnova Buy

Law360 (January 15, 2020, 3:27 PM EST) -- Europe’s competition authority won’t stand in the way of Synthomer’s $824 million pickup of rival specialty chemical maker Omnova Solutions, after the U.K.-based company offered conditions that assuaged the watchdog’s concerns.

The European Commission revealed Tuesday that it was blessing the merger on the condition that Synthomer follow through with its promise to divest its vinyl pyridine latex business.

“Synthomer and Omnova are the only two manufacturers of this type of latex in Europe, but we can approve their merger because the companies offered to divest all of Synthomer's VP Latex production, thus preserving for customers the competitive situation in the...

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