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EU: EC receives concession offer in Wabtec merger

By  |  July 27, 2016

U.S. rail component maker Wabtec Corp has offered the European Commission concessions to allay EU concerns about its $1.8 billion bid for rival Faiveley Transport (FAIP.PA).

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    Wabtec made the concession offer on July 25, according to a filing on the EC website that did not reveal the details of the offer.

    The EC is scheduled to rule on the deal by Oct. 24, and is expected to seek feedback from third parties before deciding whether to accept the concessions, demand more concessions or block the acquisition entirely.

    The Commission began to review the deal in May and said at the time that the transaction would remove a significant competitor.

    Full Content: Reuters

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