China’s anti-monopoly regulator has approved Mitsubishi Rayon’s takeover of Lucite International, but imposed conditions on the two companies including the sale of half of Lucite’s specialised polymer production.
On April 21, China Law & Practice reported that the Ministry of Commerce (Mofcom) was still scrutinising the deal, despite other competition regulators worldwide already giving their clearance. Three days later, the Ministry announced that it had cleared the deal subject to provisos which had been negotiated by the companies over the past weeks.
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