Canada’s Magna has just been given approval by the European Commission to buy out its major rival ixetic Verwaltungs GmbH of Germany. Both are automotive suppliers. The Commission said in a press release that Magna will still face major competitors and that the deal would not hamper consumer choice. Of primary concern for the Commission were the sup-markets of vacuum pumps for brake systems and transmission oil pumps for engines; the two parties involved overlap with these products.
Full Content: European Commission
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