Marlboro maker Philip Morris has offered concessions to address EU antitrust concerns over its $16 billion bid for tobacco and nicotine products maker Swedish Match, a European Commission filing showed on Wednesday.
The EU competition enforcer did not provide details of the concessions in line with its policy. It will seek feedback from rivals and customers before deciding whether to accept them or demand more.
The Commission extended its deadline for a decision to Oct. 25 from Oct. 11. Companies typically offer remedies during the preliminary review if they are confident that the EU antitrust watchdog will accept them.
The Commission had been expected to clear the deal unconditionally but no final decision had been made, people close to the matter said on Tuesday.
The deal, which has been cleared in the United States and Brazil, is complex and EU regulators have to take into account the scope and characteristics of the European market, another person said.
Featured News
Turkey Fines Meta $10.4 Million for Abusing Market Dominance
May 6, 2024 by
CPI
Canadian Watchdog Launches Inquiry into Lululemon’s Greenwashing Practices
May 6, 2024 by
CPI
Massachusetts Supreme Court Deliberates Ballot Redefining Gig Worker Status
May 6, 2024 by
CPI
European Commission Approves Nippon Steel’s $14.9 Billion Buyout of U.S. Steel
May 6, 2024 by
CPI
Banco Sabadell Rejects Rival BBVA Merger Proposal
May 6, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI