The companies have until Nov. 18 to offer a remedy and plan to propose the European refinish sale the European Commission has already accepted.
The U.K. Competition and Markets Authority (CMA) found Nov. 11 that the proposed merger of AkzoNobel N.V. and Axalta Coating Systems Ltd. could substantially lessen competition in the supply of vehicle refinish coatings in the U.K. The agency gave the companies until Nov. 18 to offer a remedy or face an in-depth phase 2 investigation.
AkzoNobel and Axalta said the same day that they are considering the decision and aim to address it with the remedy
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