Business

Greif's acquisition of Blagden Packaging Group's large steel drum business has been cleared by the Competition Commission (CC), it was announced today (17 August).

Inquiry chairwoman Diana Guy said the CC had "not found it an easy decision", since the merged company would account for 50-60% of the large steel drum market.

But the late discovery of a new large steel drum facility being built in the Netherlands meant it could "no longer conclude that the merger would substantially lessen competition in the market".

Earlier this week, Packaging News revealed that Greif had criticised the CC's provisional findings for "serious and manifest errors and omissions" and for failing to take into account "relevant customer benefits".

Click here for a summary of the final report into the merger from the CC website. The full report will be published shortly.