10.13.14
PPG Industries has received notice from Mexico’s Federal Economic Competition Commission that it is extending the review timeline of PPG’s previously announced agreement to acquire Consorcio Comex, S.A. de C.V. Without this extension, the competition commission would have been required to rule on the regulatory filing within the coming days.
PPG announced June 30 that it had reached a definitive agreement to acquire Comex in a transaction valued at $2.3 billion. PPG indicated then it expected a 4- to 6-month regulatory review timeline. This original projection anticipated an extension by the Commission, given the magnitude of the transaction. PPG stated that it continues to anticipate the transaction will close in the fourth quarter, within the original timeline.
PPG announced June 30 that it had reached a definitive agreement to acquire Comex in a transaction valued at $2.3 billion. PPG indicated then it expected a 4- to 6-month regulatory review timeline. This original projection anticipated an extension by the Commission, given the magnitude of the transaction. PPG stated that it continues to anticipate the transaction will close in the fourth quarter, within the original timeline.