BALL CORP BRUSSELS - European Union antitrust regulators will decide by Dec. 23 whether to clear U.S. drinks can maker Ball Corp's (>> Ball Corporation) 4.43-billion-pound proposed takeover of British peer Rexam (>> Rexam PLC), a two-week delay agreed with the companies.
The European Commission's previous deadline was Dec. 9.
"The Commission decided with the agreement of the parties to extend the in-depth investigation by 10 working days, as foreseen in the merger regulation," spokesman Ricardo Cardoso said in an email.
The world's two largest beverage can makers by volume are looking to merge to better manage capital spending and costs. However, the EU competition enforcer is concerned that the deal would push up prices for companies and consumers.
Ball has said it is prepared to sell assets with sales of more than $1.58 billion to fend off regulatory worries. It is likely to offer concessions next month.
(Reporting by Foo Yun Chee; editing by Robert-Jan Bartunek)
