- Chemicals company Synthomer said its proposed $455m takeover of Omnova Solutions had received clearance from the European Commission, conditional on it selling a small latex business in Germany.

Synthomer said the latex business represented less than 0.5% of its 2018 sales volume.

It had already received 'a number of expressions of interest' for the business, it added.

Completion of the acquisition of Omnova was expected late in the first quarter of 2020, conditional on the latex sale, Synthomer said.

'We are now working on the divestment as quickly as possible, which will enable us to conclude the Omnova acquisition and focus on taking the combined business to the next level,' chief executive Calum MacLean said.

At 2:48pm: [LON:SYNT] Synthomer share price was -7.6p at 326p

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