Saint-Gobain (SG) is poised to get the green light from the EU Commission to proceed with its £3.7bn hostile bid for BPB, its British rival. The commission is expected to signal this week whether it has any competition concerns over the proposed takeover bid. Formal approval could be made a week a later-a move that would restart the bidding timetable under UK takeover rules. In October the Takeover Panel stopped the bid clock to allow the commission time to consider whether an SG takeover would be anti-competitive. A deal would allow the French giant to expand further into plasterboard & increase its global operations. SG first approached BPB in July with a 675p/share offer. BPB rejected the offer, as well as a revised 720p/share or £3.7bn bid, arguing that it substantially undervalued the company.
