UK watchdog probes AkzoNobel’s $25 billion Axalta merger

Sept 17 (Reuters) – Britain’s competition watchdog launched on Thursday a ​probe into Dulux paint ‌maker AkzoNobel’s (AKZO.AS), $25 billion merger with rival Axalta (AXTA.N), to ​assess whether the ​deal would lead to a ⁠substantial lessening of ​competition in the UK.

Additional details:

• The ​Competition and Markets Authority (CMA) set November 11 as the ​deadline for its Phase ​1 decision, and will assess ‌whether ⁠the transaction would create a relevant merger situation under the Enterprise Act ​2002.
• Last November, ​AkzoNobel ⁠announced plans to merge with Axalta ​Coating Systems in a ​deal ⁠that would create a combined company with ⁠an ​enterprise value of $25 ​billion.

Reporting by Neeshita Beura in Bengaluru; ​Editing by Sherry Jacob-Phillips .