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Assa Abloy Offers Concessions To EU

 |  February 10, 2020

World No. 1 lock maker Assa Abloy has offered concessions to address European Union antitrust concerns over its 502 million euro ($550 million) bid for an additional 54% stake in Swiss door maker, reported Reuters. 
Swedish company Assa Abloy, which already holds a 39% stake in agta record, submitted its proposal on Feb. 6. The site did not show any details in line with the Commission’s policy. 
The EU competition enforcer is now expected to seek feedback from rivals and customers before deciding whether to accept the concessions, demand more or open a full-scale investigation. It extended its deadline for a decision to Feb. 27.