Celanese Makes Concessions on DuPont Acquisition
Celanese has offered concessions to EU regulators to allay concerns about its proposed $11 billion acquisition of DuPont’s Mobility and Materials business, according to Reuters.
The US chemicals company filed its proposed remedies with the European Commission on Sep. 20 — the filing did not disclose the details. The Commission is seeking feedback from rival producers and customers before deciding by Oct. 11 whether to accept Celanese’s proposals, or make further demands.
If the Commission has serious concerns about the deal, it might open an investigation that could take four months to complete.
The transaction – announced in February and originally expected to close around the end of this year – would be DuPont’s biggest since splitting from DowDuPont in June 2019. DuPont is reshaping its portfolio as a “premier multi-industrial company” serving the automotive, consumer and industrial markets.
Author: Elaine Burridge, Freelance Journalist
