LONDON (ShareCast) - (ShareCast News) - The European Commission said on Friday that it was to suspend the deadline for a review of the merger of Dow Chemical and DuPont, as key documents had not been submitted on time.
A month ago the antitrust regulator opened an investigation into the transaction, which would create the largest chemical company in the world.

"The commission has stopped the clock in its in-depth investigation into the proposed merger between Dow and DuPont," said commission spokesman Ricardo Cardoso. "To comply with merger deadlines, parties must supply the necessary information for the investigation in a timely fashion."

Cardoso said that once the necessary documents were handed in, the process would get underway again. The move will most likely delay the expectation of closing the deal before the end of 2016.

"Once the missing information is supplied by the parties, the clock is re-started and the deadline for the commission's decision is then adjusted accordingly."

Concerns remain whether the proposed coming together of Dow and DuPont will substantially reduce competition in the sector, with the market capitalisation of the combination in the region of $122bn.

A spokeswoman for Dow referred to the action as " a routine procedural part of the European Commission process.

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