The regulator objects to the proposed €6.2 billion takeover by Ball of UK-based Rexam. It has done this on the grounds it would damage competition in the EU, as the new entity would hold an overly dominant position in the supply of metal drinks cans. It is estimated that if the deal went through the new company would control around 69% of can production in Europe.
US-headquartered Ball now has the option to sell some of its European plants or cancel the deal. The proposed takeover was announced in February 2015 .
Similar anti-competition investigations are also underway in the US and Brazil – countries where in its current shape the new firm would gain control of 61% and 74%, of the respective national markets.
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