Sappi, UPM propose graphic paper joint venture
XLB•Partners plan responses by year-end
Both partners plan to submit responses to address the issues raised, targeting clearance by year-end.
European Commission raises preliminary concerns
Sappi received a European Commission Statement of Objections in its Phase 2 merger review of a proposed joint venture with UPM.
The filing signals preliminary competition concerns, though it does not determine the final decision on the transaction.
