EUROPEAN COMMISSION HELPS BLOCK SWISS PACKAGING DEAL
April 1st, 2007
BY KEITH NUTHALLA PLANNED forced merger of the carton packaging businesses of Norway Elopak and Switzerland's SIG has been abandoned, after the European Commission opened a detailed competition inquiry. Brussels has acknowledged the deal has collapsed, with a public tender offer for SIG shares by Elopak owner Ferd and Luxembourg-based investment fund CVC failing. The move had sparked an in-depth probe by the Commission over "serious concerns that the transaction could significantly impede effective competition" in the European Union. Elopak and SIG both supply ...
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