Middlebury, Connecticut-Crompton Corp. announced 15 June that its proposed merger with Great Lakes Chemical Corp. has been formally cleared by the European competition authorities.
Shareholders of both companies will vote on the merger on 1 July 2005, said a statement from Crompton. The merged company will use the name Chemtura, the group announced recently.
The Commission said, "there were a few overlaps in the companies' activities, notably in the area of polymer additives, the Commission has concluded that the concentration would not significantly impede effective competition in the EEA or any substantial part of it. This is in particular due to competition from other US and Asian producers."
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Press releasefrom EC