The European Commission (EC) has opened an investigation into plans by Praxair Inc. and Germany’s Linde AG to join forces to create the market’s biggest player, over concerns that the deal could harm competition for gases, such as oxygen and helium.
The deal, announced in December 2016, would create the world’s largest industrial gas maker, with a combined market value of around US$85 billion.
The EC said on Friday, February 16, it was concerned the merger would reduce the suppliers of important gases in Europe to just three, and that other players lack the technical and financial capabilities to compete on equal footing.
“We will carefully assess whether the proposed merger between Praxair and Linde would lead to higher prices or less choice for European consumers and businesses,” said EC Commissioner Margrethe Vestager.
A Linde spokesman declined to comment on behalf of the companies.
The deal was expected to face global regulatory scrutiny, with divestitures an expected condition for approvals. The parties clinched approval from authorities in Russia and Pakistan but have yet to receive approval from regulators in the US, China and elsewhere.
Full Content: The Times Live
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
EU’s Incoming Competition Head Pushes for Policy Shift to Support ‘European Champions
Sep 19, 2024 by
CPI
Google Challenges $217 Million Legal Fee Demand in Privacy Case
Sep 19, 2024 by
CPI
EU Moves to Enforce Apple’s Compliance with New Market Rules
Sep 19, 2024 by
CPI
California Attorney General Bonta Stands Firm Against Albertsons-Kroger Merger
Sep 19, 2024 by
CPI
New FTC Report Highlights Privacy Risks in Social Media Data Use
Sep 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández