A PYMNTS Company

EU: ChemChina’s $7.9 billion bid for Pirelli cleared

 |  July 2, 2015

European Union antitrust bodies have approved China National Tire & Rubber Co.’s proposed takeover bid for Italian tire maker Pirelli.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The European Commission said its investigation “found that the proposed transaction would raise no competition concerns as the market share increments are modest, the two companies are not close competitors and customers will continue to have an adequate number of alternative suppliers in all markets.”

    The Commission said the proposed transaction was examined “under the ordinary merger review procedure.”

    Full content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.