AkzoNobel’s merger deal with Metlac Holdings, which is being reviewed by the UK Competition Commission (CC), is still on hold after the report was delayed by eight weeks to 1 January 2013.
The CC cited the scope and complexity of the inquiry, the need to take account of comments received and the need to provide a fully reasoned decision as reasons for the delay.
The competition body ruled against the merger deal in its preliminary findings last month due to fears it could damage competition in the metal can coating sector and see prices rise.
The deal has already been approved in Germany, Austria, Cyprus, Russia, Brazil and Pakistan.
AkzoNobel told FoodProductionDaily.com last month that it was ‘disappointed’ with the preliminary ruling and planned to submit their position on why the acquisition should proceed.