Arkema's acquisition of Total's Bostik approved

The European Commission has approved France-based chemical company Arkema’s acquisition of French oil and gas giant Total’s adhesives and sealants business Bostik.

In a statement the Commission said it: “concluded that the proposed acquisition would raise no competition concerns because it leads only to limited vertical links between the parties and the inputs concerned are not crucial for the downstream production of adhesives and sealants.”The Commission went on to highlight that a number of strong players will also remain active in the market after the merger.Arkema offered to acquire Bostik in September 2014, valuing the business at €1.74bn.Arkema CEO Thierry Le Hénaff said in a statement at the time: “The complementarities between the two companies, the quality of Bostik’s management, the common roots within the Total group, and the brands and technologies are all factors that will sustain value creation for our shareholders and ensure successful execution of the project.”

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600450 Arkema's acquisition of Total's Bostik approved glassonweb.com
Date: 3 February 2015
Source: www.europeanplasticsnews.com

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