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BRIEF-UK's CMA accepts remedy to address competition concerns in foam merger

Reuters · 11/16/2022 02:04
BRIEF-UK's CMA accepts remedy to address competition concerns in foam merger

- Carpenter Technology Corp CRS.N:

  • UK'S COMPETITION AND MARKETS AUTHORITY SAYS ACCEPTS REMEDY TO ADDRESS CONCERNS IN FOAM MERGER

  • US-BASED CARPENTER AGREED TO BUY BELGIAN FIRM RECTICEL'S GLOBAL ENGINEERED FOAMS BUSINESS IN A EUR 656 MILLION (EUROS) DEAL ANNOUNCED IN 2021.

  • UK'S COMPETITION AND MARKETS AUTHORITY SAYS "REQUIRING CARPENTER TO SELL MOST OF UK ARM OF RECTICEL'S ENGINEERED FOAMS BUSINESS TO AN INDEPENDENT, CMA-APPROVED BUYER WILL PROTECT UK MANUFACTURERS FROM HIGHER COSTS

  • UK'S COMPETITION AND MARKETS AUTHORITY SAYS ON THESE TERMS, TRANSACTION CAN GO AHEAD.

Source text for Eikon: ID:

Further company coverage: CRS.N


(Reporting By Sinead Cruise)

((sinead.cruise@thomsonreuters.com;))