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EU: Luxottica, Essilor offer no merger concessions

By  |  September 20, 2017

Luxottica and Essilor have not offered any concessions to allay EU antitrust regulators’ concerns over their proposed €46 billion (US$51.9 billion) merger, increasing the possibility of a lengthy EU investigation into the deal.

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    Italian eyewear maker Luxottica, which owns brands such as Ray-Ban and Oakley, and French lens manufacturer Essilor had until September 19 to offer concessions after the EU competition enforcer expressed its reservations about the deal to the companies last week.

    The European Commission recognises if the parties to a merger have made concessions. However, the filing on its website shows that Luxottica and Essilor had not done so.

    Unless they managed to appease the Commission at last week’s meeting, it is likely that the regulator will open a full-scale investigation lasting about four months, following a preliminary review that ends on September 26.

    Full Content: Euro News

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