Braskem’s Solvay bid faces competition hurdle

Braskem’s Solvay bid faces competition hurdle

M&A

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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