EU regulators to decide by July 20 on Ball's $6.9 bln Rexam bid

(Adds background, timing of deal)

BRUSSELS, June 16 (Reuters) - European Union market competition regulators are set to decide by July 20 whether to approve the 4.4 billion-pound ($6.9 billion) merger deal between Ball Corp (NYSE: BLL - news) and Rexam Plc (LSE: REX.L - news) , the world's two largest makers of drinks cans.

The companies sought approval for the deal on Tuesday, according to a filing on the European Commission website.

The European Commission can clear the merger unconditionally in the preliminary review or extend the deadline to consider concessions offered to allay competition concerns. It can also open a full-scale investigation to examine deeper worries.

Rexam Chief Executive Graham Chipchase has said that the Rexam board would not have accepted the offer from Ball unless it could see a clear route to get it approved. The company said on Feb. 19 it expected the deal to close in the first half of 2016.

However, analysts have said the size of the combined company could force regulators to demand concessions such as asset sales in return for letting the deal through.

Rexam makes cans for soft drinks company Coca-Cola Co and beer producer Anheuser-Busch InBev. ($1 = 0.6401 pounds) (Reporting by Foo Yun Chee; Editing by Greg Mahlich and Louise Heavens)