Eyewear maker EssilorLuxottica has offered to sell assets in three European Union countries in a bid to allay EU antitrust concerns about its 7.2-billion-euro ($8.7 billion) bid for Dutch Opticians group GrandVision, reported Reuters.
EssilorLuxottica submitted its offer to the European Commission on Monday, according to a filing on the EU executive’s site. The EU competition enforcer will decide by April 12 whether to clear or block the deal.
The duo’s push for regulatory approval comes after a rocky year when EssilorLuxottica, the maker of Ray-Ban sunglasses, seemed to be reconsidering its agreed 7.3 billion-euro ($8.8 billion) purchase of its Dutch rival. The Franco-Italian company was worried about the way the Covid-19 crisis has affected GrandVision’s business as shops were shuttered, people said in December.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
K&L Gates Expands Antitrust Practice with New Partners
May 15, 2024 by
CPI
Polish Regulators Probe PS Store and Steam for Antitrust Violations
May 15, 2024 by
CPI
French Regulator Meat-Cutting Sector Case Following Antitrust Review
May 15, 2024 by
CPI
Arizona Attorney General Files Suit Against Amazon Over Unfair Business Practices
May 15, 2024 by
CPI
Varsity Spirit and Private Equity Owners Settle Class Action Antitrust Suit
May 15, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI