The billion-dollar merger of UK can-maker Rexam and their North American counterpart, Ball corp., has raised concerns among Brazil’s regulators. Their concerns were voiced less than a week after similar objections were issued by European authorities, worried about a deal that would create a true giant in the global canned beverage market.
Ball Corp, headquartered in Colorado, revealed that CADE’s superintendence has “expressed their concerns regarding any unconditional approval of Rexam’s acquisition by Ball Corp.” The combined business could control up to 61% of the North American can manufacturing industry, along with 69% of Europe’s and 74% in Brazil.
The American company went on to express their disagreement with the Brazilian authority’s assessment, while reassuring listeners that the company will work arduously to address all objections brought to them by the regulators.
Source: Financial Times
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