General Electric’s $14.08 billion bid for Alstom’s power equipment business is likely to face a full-scale investigation by EU antitrust regulators said on Wednesday.
Last June, GE announced that it had won approval from Alstom‘s board for the all-cash offer to buy the company’s Power and Grid businesses, which at that time GE valued at $16.9 billion.
The move by the European Commission to probe suggests that the EU watchdog may have concerns that the deal could reduce competition, in which case it may demand remedies.
GE said it was cooperating with the Commission.
“Our goal is to secure the required regulatory approvals and close the transaction by mid-2015,” the company said in an emailed statement.
The EU competition authority is expected to announce the probe next week.
Full Content: Recharge News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Germany and France Advocate for Major EU Competition Reform
May 29, 2024 by
CPI
Equifax Accused of Monopolizing Employment Verification Market in New Suit
May 29, 2024 by
CPI
Car Battery Makers to Challenge EU Cartel Charges in Brussels
May 29, 2024 by
CPI
Agri Stats Must Face Price-Fixing Lawsuit, Judge Rules
May 29, 2024 by
CPI
States Ramp Up Antitrust Efforts with Expanding Legal Teams
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI