The European Union’s antitrust regulator said the deadline for a review into the proposed Dow DuPont merger has been suspended because the companies have yet to turn in the required information. A European Commission spokesman said, “To comply with merger deadlines, the companies must submit the required information to investigators in a timely fashion.” A Dow Jones report said the EU opened an in-depth investigation into the proposed deal on concerns that the merger would cut down on competition in crop protection, seeds, and certain petrochemicals. The proposed merger was first disclosed in December of 2015 and would unite the two companies before the split into three separate units.
Dow and DuPont quietly made concessions to the EU in July in order to address concerns about antitrust issues. The Commission will restart its clock on the merger review once the companies submit the required paperwork. The most recent deadline for the review had been set for early 2017.
Source: NAFB News Service