UK Competition Watchdog Wary About Akzo's Metcal Buy

Law360, New York (May 23, 2012, 9:17 PM EDT) -- The U.K.'s Office of Fair Trading on Wednesday referred Dutch chemicals giant Akzo Nobel NV's planned takeover of rival Metlac Holding Srl to the country's Competition Commission over fears that the merger would limit competition in the market for metal packaging coatings.

The OFT said the merger, announced in January, would create an entity that controlled between 40 and 50 percent of the European market, possibly allowing it to stifle competitors for the coatings, which are used on food and soft drink cans.

On Wednesday, OFT...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.