EU Commission clears Eastman’s Solutia buyout
30/05/2012
The European Commission has cleared the proposed acquisition of Solutia by Eastman Chemical Company.
The Commission's investigation concluded that the
transaction would not raise competition concerns because the parties are not
active on the same markets and will continue to face sufficient competition.
Chemicals, fibres and plastics manufacturer Eastman’s merger proposal "would
continue to face competition from a number of strong competitors upstream", according
to the EC.
It also found that the merger "would not result in any substantial change in the markets concerned since Solutia is not currently a customer of Eastman in the EEA".
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