UK CMA flags AkzoNobel-Axalta VR coatings concerns; firms to offer divestment remedy

The UK's Competition and Markets Authority identified competition concerns in its Phase 1 review of AkzoNobel's $25 billion merger with Axalta, specifically over the supply of vehicle refinish (VR) coatings in the UK, and may refer the deal to a Phase 2 probe. The companies intend to offer the same remedy package agreed with the European Commission, including divesting AkzoNobel's European VR coatings business.

Detected & updated continuously · Source: Nebula