Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

EU resumes probe into DuPont, Dow mega deal, to rule by Feb 6

Published 03/10/2016, 11:09
Updated 03/10/2016, 11:10
© Reuters. The Dupont logo is displayed on a board above the floor of the New York Stock Exchange shortly after the opening bell in New York
DOW
-
BAYGN
-
SYENF
-
DD
-
MON
-

BRUSSELS (Reuters) - EU antitrust regulators have resumed their investigation into the $130 billion (101 billion pound) merger of U.S. chemicals giants Dow Chemical (N:DOW) and DuPont (N:DD) after the companies provided key data.

The European Commission, which halted its scrutiny in early September, will now decide by Feb. 6 whether to approve the deal.

Commission spokesman Ricardo Cardoso confirmed in an email that the companies had submitted important information requested by the EU competition enforcer.

The Commission opened a full investigation into the case in August, concerned that the deal to create the world's largest integrated crop protection and seeds company might reduce competition in these sectors as well as certain petrochemicals.

The agricultural chemicals industry has seen a wave of consolidation in recent months.

The Commission is also examining another agrichemicals deal involving ChemChina and Syngenta (S:SYNN).

© Reuters. The Dupont logo is displayed on a board above the floor of the New York Stock Exchange shortly after the opening bell in New York

German pharmaceutical and crop chemicals manufacturer Bayer AG (DE:BAYGn) also plans to buy U.S. peer and world No. 1 seeds company Monsanto Co (N:MON).

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.