Dive summary:
- Veolia Environnement and Suez Environnement, the worlds two largest waste companies by revenue, have decided against an $11 billion merger.
- Reasons for not going through with the deal include difficulties securing antitrust approval, which to obtain, both companies would have to sell off large parts of their businesses.
- The Wallstreet Journal reported that the deal may be considered again at a later date.
From the article:
France's Veolia Environnement and Suez Environnement, the world's two largest waste and environmental services companies by revenue, recently discussed an $11 billion merger before abandoning the deal over difficulties like securing antitrust approval, The Wall Street Journal reported.
Paris-based Suez denied it had plans to combine operations with Veolia Environnement in a statement posted to the company's website on Oct. 20. Veolia followed with a similar statement on Oct. 22.
The companies would have had a combined revenue of close to $60 billion, the WSJ reported. ...
