EU pauses review of 1.65 billion dollar UPM Sappi deal
The European Commission suspended its investigation into the proposed paper joint venture between UPM-Kymmene and Sappi after the companies failed to provide requested data. Regulators previously expressed concerns that the merger could reduce competition and increase prices for coated paper in Europe.
Insights:
EU antitrust regulators paused the review of a $1.65 billion paper joint venture between UPM-Kymmene and Sappi. The European Commission stopped the clock on May 26 after the firms failed to provide requested competition data. Investors face a delayed timeline for a deal that would consolidate the European coated paper market.
