German chemical giant BASF S.E.has offered a remedy package to the European Commission to win approval for its $1.85 billion acquisition of Solvay S.A.'s nylon business.As part of the package,BASF will refrain from acquiring some of the assets and certain technologies,and Solvay will divest those operations separately,said Juergen Becky,BASF senior vice president for performance materials Europe.”We are at a so-called phase two stage of the process.This is a typical merger clearance process where concerns about an M&A activity are being investigated.And here there is a concern that BASF may become too big a power [in the market],”Becky said.
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