Mohawk's Spano Acquisition Under EC Review
Calhoun, GA, March 25, 2013 -- Mohawk Industries’ proposed acquisition of Belgian panel board manufacturer Spano Invest NV for $168 million in cash is being reviewed by the European Commission, according to the Atlanta Journal-Constitution.
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Spano makes and distributes chip and melamine boards used in furniture construction and as building materials. It is majority-owned by the Belgian holding company Ackermans & Van Haaren.
The deal is being reviewed to see if it meets anti-competition regulations. A ruling could be made next month.