US chemicals company Celanese has offered remedies in a bid to address EU antitrust concerns about its proposed $11 billion acquisition of DuPont’s mobility and materials business, a European Commission filing showed on Wednesday.
Celanese, which announced the deal in February, submitted its proposal on Tuesday, according to the filing which did not set out details.
The EU competition enforcer will seek feedback from rivals and customers before deciding by Oct. 11 whether to accept the remedies or demand more. It can also open a four-month long investigation if it has serious concerns.
DuPont is remolding its portfolio to focus on high-margin electronics and water solutions businesses. Celanese Corporation, formerly known as Hoechst Celanese, is an American technology and specialty materials company headquartered in Irving, Texas. A Fortune 500 corporation, the company is the world’s leading producer of acetic acid, producing about 1.95 million tonnes per year, representing approximately 25% of global production. Celanese is also the world’s largest producer of vinyl acetate monomer.