The UK Competition and Markets Authority (CMA) warned that the proposed $25 billion merger of AkzoNobel and Axalta could harm competition in the UK. According to Sina Finance, the CMA said the companies must submit remedies by next Wednesday or face an in-depth Phase 2 investigation, citing their direct competition in automotive refinishing coatings and a combined market share of 40% to 50%. The companies said they were assessing the decision and planned to use the remedy plan conditionally approved by the European Commission last week, which requires AkzoNobel to divest its European automotive refinishing coatings business, including its UK operations. The companies remain confident the deal will close in early 2027; their shareholders approved it in August this year after the companies agreed to merge last November. The combined group is expected to have revenue of about $17 billion, and the deal still lacks final approval from U.S. regulators.