EU Commission Clears Cytec's Acquisition of Umeco

The European Commission has cleared the proposed acquisition of Umeco (Leamington Spa, U.K.), a producer of advanced composites, by Cytec Industries. The commission found that the merged entity would continue to face a number of strong competitors in the markets in which it is active and that the proposed transaction would therefore not raise competition concerns. Cytec announce in April its intention to acquire Umeco for $439 million.   The parties' activities overlap mainly in the manufacture and supply of prepregs, a specific form of advanced composite...

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