The European Commission decided to open a Phase II review of Hydro’s proposed acquisition of the Polish recycler Alumetal. A Phase II review is a customary part of the Commission’s merger review process in cases where initial concerns about a transaction’s effects cannot be excluded during the preliminary assessment stage. Hydro announced a tender offer for 100% of the shares of the Polish recycler Alumetal on 29 April 2022. In July 2022, Hydro extended the subscription period to 10 October 2022. Following the Commission’s decision to open a Phase II review, the legal condition of the public tender offer will not be fulfilled before the end of subscription period, and the tender offer will therefore expire.
The European Commission decided to open a Phase II review of Hydro’s proposed acquisition of the Polish recycler Alumetal. A Phase II review is a customary part of the Commission’s merger review process in cases where initial concerns about a transaction’s effects cannot be excluded during the preliminary assessment stage. Hydro announced a tender offer for 100% of the shares of the Polish recycler Alumetal on 29 April 2022. In July 2022, Hydro extended the subscription period to 10 October 2022. Following the Commission’s decision to open a Phase II review, the legal condition of the public tender offer will not be fulfilled before the end of subscription period, and the tender offer will therefore expire.
