UK Watchdog Is Concerned With Foam Deal

The UK Competition and Markets Authority said Monday that the 656 million Euro ($683.9 million) sale of Recticel’s engineered foams business to Carpenter Co. may lessen competition within its markets.

The regulator has offered the companies the chance to provide undertakings that would satisfy its concerns. However, if none are provided by July 11 the CMA will refer the deal for further review.

Last October Recticel agreed to sell the business to Carpenter following a review and unsolicited approach by Greiner AG.

The deal was then signed in December after shareholders approved it at a special general meeting.

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