Advertisement
UK markets open in 5 hours 53 minutes
  • NIKKEI 225

    37,990.76
    -469.32 (-1.22%)
     
  • HANG SENG

    17,201.27
    +372.34 (+2.21%)
     
  • CRUDE OIL

    82.74
    -0.07 (-0.08%)
     
  • GOLD FUTURES

    2,330.50
    -7.90 (-0.34%)
     
  • DOW

    38,460.92
    -42.77 (-0.11%)
     
  • Bitcoin GBP

    51,798.67
    -1,835.37 (-3.42%)
     
  • CMC Crypto 200

    1,394.99
    -29.11 (-2.04%)
     
  • NASDAQ Composite

    15,712.75
    +16.11 (+0.10%)
     
  • UK FTSE All Share

    4,374.06
    -4.69 (-0.11%)
     

EU mergers and takeovers (Dec 21)

BRUSSELS, Dec (Shanghai: 600875.SS - news) 21 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- U.S. car sealing and thermal management products Dana to acquire transmissions and hydraulic and electronic parts maker Brevini Group's fluid power and power transmission units (approved Dec. 16)

-- Irish technology distribution company Exertis, which is part of DCC PLC (Frankfurt: DCC.F - news) , to acquire UK data-storage company Hammer (approved Dec. 20)

NEW LISTINGS

-- ArcelorMittal Distribution Services France and Cellino to create a joint venture Steelcame Srl active in industrial sheet metal workshop and steel distribution (notified Dec. 16/deadline Jan 30)

ADVERTISEMENT

EXTENSIONS AND OTHER CHANGES

None

FIRST (Other OTC: FSTC - news) -STAGE REVIEWS BY DEADLINE

DEC 22

-- Coca Cola Company to buy 50 percent stake in Lithuanian mineral water producer Neptuno Vandenys from Coca Cola Hellenic Bottling Company (notified Nov. 17/deadline Dec. 22)

-- Verizon Communications (LSE: 0Q1S.L - news) to acquire U.S. internet company Yahoo (NasdaqGS: YHOO - news) (notified Nov. 17/deadline Dec. 22)

JAN 5

-- UK engineering company Smiths Group (Frankfurt: QS2A.F - news) to acquire U.S.-based Morpho Detection from French aerospace company Safran (Milan: SAF.MI - news) (notified Nov. 23/deadline Jan. 5)

-- Private equity (IOB: 0QLS.IL - news) firms Cinven, Permira and Mid Europa to acquire Polish e-commerce business Allegro and Polish price comparison website Ceneo from South African media and e-commerce company Naspers (notified Nov. 23/deadline Jan. 5/simplified)

JAN 6

-- Chinese insurance company Fosun to acquire German fashion house Tom Tailor (IOB: 0MMJ.IL - news) (notified Nov. 24/deadline Jan. 6/simplified)

JAN 9

-- Venture capital company Rockaway Capital SE, energy company EC Investments and Czech financial services company PPF (Shenzhen: 300258.SZ - news) Group N.V. to create online shopping joint venture Sully System (notified Nov. 25/deadline Jan. 9/simplified)

-- Czech e-commerce services company Rockaway Capital SE, energy company EC Investments and Czech financial services company PPF Group N.V. to acquire Sully systems, which will act as a holding company (notified Nov. 25/deadline Jan. 9/simplified)

JAN 10

-- French automotive manufacturer Groupe PSA to take control of French second-hand car distributor Groupe Aramis (notified Nov. 28/deadline Jan. 10/simplified)

-- Business consultancy Everis Initiatives, which is a subsidiary of Japanese group NTT Data (Stuttgart: 341601.SG - news) , and Spanish bank Bankia (Amsterdam: QU8.AS - news) to jointly acquire Spanish company Nettit Colaborative Payment, which is now solely controlled by Everis (notified Nov. 28/deadline Jan. 10/simplified)

JAN 11

-- U.S. medical devices maker Abbott Laboratories (Xetra: 850103 - news) to acquire U.S. diagnostics company Alere (notified Nov. 29/deadline Jan. 11)

JAN 13

-- Investment firm HIG Capital to acquire shares in Dutch recycling company Ecore (notified Dec. 1/deadline Jan. 13/simplifed)

-- U.S. conglomerate Koch Industries to acquire U.S. peer Guardian Industries (notified Dec. 1/deadline Jan. 13/simplified)

JAN 17

-- German automotive parts supplier Rheinmetall Automotive and Chinese automobile radiator company Zhejan Yinlun Machinery to form joint venture JV (notified Dec. 5/deadline Jan. 17/simplified procedure)

-- U.S. investment firm KKR & Co. to take sole control of Japanese auto parts supplier Calsonic Kansei Corp (notified Dec. 5/deadline Jan. 17/simplified)

JAN 18

-- Private equity firm Permira to acquire online fashion products retailer Schustermann & Borenstein (notified Dec. 6/deadline Jan. 18/simplified)

-- Private equity firm Permira to acquire German fashion retailer and exporter Schustermann & Borenstein (notified Dec. 6/deadline Jan. 18/simplified)

JAN 20

-- U.S. investment group KKR to acquire a majority stake in Swedish bed and mattrass maker Hilding Anders (notified Dec. 8/deadline Jan. 20/simplified)

-- South Africa's Barloworld Ltd (Frankfurt: 854646 - news) and Germany's BayWa (IOB: 0AH6.IL - news) to establish BHBW joint venture for agriculture and materials handling operations in southern Africa (notified Dec. 8/deadline Jan. 20/simplified)

-- U.S. investment group KKR to acquire a majority stake in Swedish bed and mattrass maker Hilding Anders (notified Dec. 8/deadline Jan. 20/simplified)

-- South Africa's Barloworld Ltd and Germany's BayWa to establish BHBW joint venture for agriculture and materials handling operations in southern Africa. (notified Dec. 8/deadline Jan. 20/simplified)

JAN 23

-- France's Schneider Electric (EUREX: SND1.EX - news) and DB Energie to form a joint venture (notified Dec. 9/deadline Jan. 23/simplified)

JAN 25

-- Japanese holding company Sompo Holdings Inc (Frankfurt: ANK.F - news) to acquireNew York-listed insurer Endurance Specialty Holdings Ltd (notified Dec. 13/deadline Jan. 25/simplified)

JAN 26

-- Japan's Mitsubishi Chemical Holdings Corporation and Ube Industries (BSE: UBEINDL.BO - news) to acquire joint control of electrolytes makers Changshu MC Ionic Solutions CN Co Ltd and AET Electrolyte Technologies (Zhangjiagang) Co. Ltd (notified Dec. 14/deadline Jan. 26/simplified)

-- EP Investment and EP Investment II to jointly acquire Czech utility Energeticky a prumyslovy holding, a.s. (EPH) (notified Dec. 14/deadline Jan. 26/simplified)

JAN 30

-- ArcelorMittal Distribution Services France and Cellino to create a joint venture Steelcame Srl active in industrial sheet metal workshop and steel distribution (notified Dec. 16/deadline Jan 30)

FEB 23

-- German cement producers Heidelbergcement (IOB: 0MG2.IL - news) and Schwenk to jointly acquire Mexican peer Cemex's Croatian unit (notified Sept. 5/deadline extended to Feb. 23 from Oct (Shenzhen: 000069.SZ - news) . 10 after the European Commission opened an in-depth investigation)

FEB 28

-- U.S. chemicals company Dow Chemical (Swiss: DOW-USD.SW - news) to merge with DuPont (notified June 22/deadline Feb. 28)

MARCH 6

-- Deutsche Boerse (IOB: 0H3T.IL - news) and the London Stock Exchange (Other OTC: LDNXF - news) plan to merge (notified Aug. 24/deadline extended to March 6 from Feb. 13 after the companies asked for more time)

MARCH 29

-- Chinese state-owned company China National Chemical Corp (ChemChina) to acquire Swiss pesticides and seeds group Syngenta (notified Sept. 23/deadline March 29)

SUSPENDED

-- Azerbaijan's state energy company SOCAR to buy stakes in Greek natural gas grid operator DESFA from Greek natural gas utility DEPA (notified Oct. 1/deadline suspended on Jan. 21)

GUIDE TO EU MERGER PROCESS

DEADLINES:

The European Commission has 25 working days after a deal is filed for a first-stage review. It may extend that by 10 working days to 35 working days, to consider either a company's proposed remedies or an EU member state's request to handle the case.

Most mergers win approval but occasionally the Commission opens a detailed second-stage investigation for up to 90 additional working days, which it may extend to 105 working days.

SIMPLIFIED:

Under the simplified procedure, the Commission announces the clearance of uncontroversial first-stage mergers without giving any reason for its decision. Cases may be reclassified as non-simplified - that is, ordinary first-stage reviews - until they are approved. (Compiled by Foo Yun Chee)