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December 1, 2022

Kronospan abandons takeover of Pfleiderer due to EU antitrust concerns

Austrian wood panel producers Kronospan failed to allay EU antitrust concerns over its bid for German wood maker Pfleiderer's Polish unit, EU antitrust chief Margrethe Vestager said on Wednesday after the companies abandoned the deal.  The European Commission opened a full-scale investigation into the deal in April and had subsequently planned to veto it, a person familiar with the matter said.  The EU competition enforcer said remedies offered by Kronospan failed to ease its concerns over the creation of a dominant player in the raw and melamine-coated particleboards markets in Poland and the ...

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