EU regulators halt review of Dow, DuPont deal, await data
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
The Dow logo is seen at the entrance to Dow Chemical headquarters in Midland, Michigan May 14, 2015. REUTERS/Rebecca Cook/File Photo
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
BRUSSELS (Reuters) - EU antitrust regulators have halted their scrutiny of the $130 billion merger of Dow Chemical (NYSE: DOW) and DuPont (NYSE: DD) after the companies failed to provide crucial data, the European Commission said on Friday.
The EU competition enforcer halted its investigation on Oct. 13, according to a filing on its website, the second time it has done so.
"This procedure in merger investigations is activated if the parties do not provide an important piece of information that the Commission has requested from them," Commission spokesman Ricardo Cardoso said in an email.
The companies are working constructively with the Commission and other regulatory authorities and still expect to close the deal in the first quarter of 2017, Dow Chemical spokeswoman Rachelle Schikorra said in an email.
The merger to create the world's largest crop protection and seeds company has triggered regulatory concerns that it may reduce competition in these areas as well as certain petrochemicals.
(Reporting by Foo Yun Chee; Editing by Keith Weir)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rite Aid (RAD)/Walgreens (WBA) Antitrust Concerns Doesn't Mean Deal is Dead, Says Deutsche Bank
- Trump invites Netanyahu to Washington for visit: White House
- Trump pledges aid for storm-hit Georgia, Florida and Alabama
Create E-mail Alert Related CategoriesReuters
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!