Australia watchdog has concerns on Du Pont, Dow merger

Wed Nov 2, 2016 8:29pm EDT
 
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SYDNEY (Reuters) - Australia's corporate watchdog said on Thursday it had competition concerns about the planned $130 billion merger between DuPont (DD.N: Quote) and Dow Chemical Co (DOW.N: Quote) and was in touch with overseas regulators on the deal.

The Australian Competition and Consumer Commission invited submissions from interested parties and said a final decision would be made on Feb. 2.

"The ACCC is concerned about the effect that the proposed merger may have on competition for a diverse range of products, including insecticides, seeds, and materials science products," ACCC chairman Rod Sims said.

The merger of Dow Chemical and DuPont is being scrutinized by regulators world over, with EU antitrust officials expected to decide the deal by Feb. 6.

(Reporting by Wayne Cole)

 
A DuPont logo is pictured on the research center in Meyrin near Geneva August 4, 2009. REUTERS/Denis Balibouse