German Antitrust Watchdog OKs €310M Lanxess-DSM Deal

Law360, New York (April 21, 2011, 12:34 PM EDT) -- Specialty chemicals company Lanxess AG said Thursday that Germany’s antitrust watchdog had signed off on its €310 million ($425 million) acquisition of Royal DSM NV's elastomers unit.

The all-cash deal, announced in mid-December, will send DSM's Keltan synthetic rubber brand to Lanxess. After receiving clearance from Germany's Federal Cartel Office, the transaction now only requires approval from Turkish competition authorities, Lanxess spokesman Daniel Smith said.

"Once that's through, then I think that the deal will close," Smith said.

Representatives for DSM and for the cartel office...
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