Braskem’s Solvay bid faces competition hurdle

Braskem’s Solvay bid faces competition hurdle


Braskem’s bid for Argentina’s Solvay Indupa faces another hurdle, with one branch of Brazil’s competition regulator saying the deal would create a monopoly. The Brazilian petrochemicals firm agreed to buy 70.59% of Solvay directly from the controllers in December, and in February launched a public offer of ARS2.4 ($0.30) per share for the remainder of the company. That price was up from the ARS1.35 it initially offered, after the Argentine regulator blocked the deal. The general superintendence

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