US regulators stall €1.3bn takeover bid from Ardagh

US regulators have stalled a €1.3bn takeover planned by Irish glass and packaging group Ardagh, claiming the proposed move is “anti-competitive”.

The claim, by the Federal Trade Commission, relates to Ardagh’s proposed $1.7bn (€1.3bn) purchase of Verallia North America from French multinational Saint-Gobain, which was initially agreed upon and announced in January.

Verallia is the second largest glass container manufacturer in the US market and the deal represented Ardagh’s biggest single purchase since buying international metal packaging giant, Impress for €1.7bn three years ago.