Advertisement
UK markets closed
  • FTSE 100

    7,895.85
    +18.80 (+0.24%)
     
  • FTSE 250

    19,391.30
    -59.37 (-0.31%)
     
  • AIM

    745.67
    +0.38 (+0.05%)
     
  • GBP/EUR

    1.1607
    -0.0076 (-0.65%)
     
  • GBP/USD

    1.2370
    -0.0068 (-0.55%)
     
  • Bitcoin GBP

    51,517.90
    -1,001.80 (-1.91%)
     
  • CMC Crypto 200

    1,371.97
    +59.35 (+4.52%)
     
  • S&P 500

    4,967.23
    -43.89 (-0.88%)
     
  • DOW

    37,986.40
    +211.02 (+0.56%)
     
  • CRUDE OIL

    83.24
    +0.51 (+0.62%)
     
  • GOLD FUTURES

    2,406.70
    +8.70 (+0.36%)
     
  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     
  • HANG SENG

    16,224.14
    -161.73 (-0.99%)
     
  • DAX

    17,737.36
    -100.04 (-0.56%)
     
  • CAC 40

    8,022.41
    -0.85 (-0.01%)
     

EU mergers and takeovers (March 25)

BRUSSELS, March 25 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

None

NEW LISTINGS

-- Private equity firm Silver Lake to acquire U.S. talent agencies William Morris Endeavour Entertainment LLC and IMG Worldwide Holdings Inc (notified March 20/deadline April 29/simplified)

-- Sweden's Volvo Construction Eequipment Aktiebolag to buy truck maker Terex Equipment Ltd (notified March 18/deadline April 25)

EXTENSIONS AND OTHER CHANGES

None

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

APRIL 4

-- Mexican cement producer Cemex to acquire Swiss peer Holcim (Other OTC: HCMLF - news) 's Spanish cement business (notified Feb. 28/deadline April 4)

ADVERTISEMENT

APRIL 7

-- U.S. investment firm The Gores Group to acquire British grocer Premier Foods (LSE: PFD.L - news) ' Hovis unit (notified March 3/deadline April 7/simplified)

APRIL 8

-- U.S. media company Discovery Communications (NasdaqGS: DISCA - news) to acquire a controlling interest in European sports broadcaster Eurosport International from French media group TF1 (Frankfurt: FSE.F - news) (notified March 4/deadline April 8)

APRIL 9

-- Israeli conglomerate Ben-Moshe Group and Dolphin Fund to acquire Israel group IDB Development Corp Ltd (notified March 5/deadline April 9/simplified)

-- Dutch company Varo Energy, which is controlled by the Carlyle Group, to acquire assets from Austrian oil group OMV (Frankfurt: OMV.F - news) (notified March 5/deadline April 9/simplified)

APRIL 10

-- Japanese chemicals producer Kuraray to buy U.S. peer DuPont's glass laminating solutions business (notified March 6/deadline April 10)

-- Sale by Britain's Royal Bank of Scotland (LSE: RBS.L - news) of some structured retail investor products and equity derivatives businesses to France's BNP Paribas (Milan: BNP.MI - news) (notified March 6/deadline April 10)

APRIL 11

-- Carlyle Group to buy Illinois Tool Works Inc (NYSE: ITW - news) 's industrial packaging unit for $3.2 billion (notified March 7/deadline April 11/simplified)

APRIL 15

-- Deutsche Telekom (Xetra: DTE.DE - news) to acquire control of GTS Central Europe from a consortium of international private equity firms (notified March 11/deadline April 15)

APRIL 22

-- Australian investment fund AMP Capital Investors Ltd to acquire joint control of Luxembourg-based train leasing company Alpha Trains (Luxembourg) Holdings Sari (notified March 13/deadline April 22/simplified)

APRIL 23

-- U.S. cable company Liberty Global (NasdaqGS: LBTYA - news) to acquire Dutch peer Ziggo (Dusseldorf: ZGG.DU - news) (notified March 4/deadline April 23)

APRIL 24

-- British engineering group John Wood (Other OTC: WDGJF - news) and German peer Siemens to form a joint venture (notified March 17/deadline April 24)

-- Japanese spirits maker Suntory Holdings Ltd to buy U.S. spirits company Beam Inc (NYSE: BEAM - news) (notified March 17/deadline April 24)

APRIL 29

-- Private equity funds Bain Capital and Anchorage Capital to jointly acquire bathroom products maker Ideal Standard, which is now solely controlled by Bain Capital (notified March 20/deadline April 29/simplified)

-- British oil company DCC Energy to acquire Swedish motor fuels distributors Qstar Forsaljning, Qstar AB and Swedish payment cards software maker Card Network Solutions Europe AB (notified March 20/deadline April 29)

APRIL 30

-- British insurer Rothesay Life to buy Metlife Assurance (notified March 21/deadline April 30)

MAY 2

-- Swiss cement maker Holcim to buy some of Mexican peer Cemex's assets in Europe . (notified Sept. 3/deadline extended for the second time to May 2 from March 31)

MAY 14

-- Spanish telecoms provider Telefonica (Madrid: TEF.MC - news) to buy Dutch peer KPN (Amsterdam: KPN.AS - news) 's German unit (notified Oct. 31/Commission opened in-depth probe on Dec. 20, new deadline May 14)

MAY 16

-- Switzerland-based INEOS and Belgian chemicals company Solvay (Other OTC: SVYZY - news) to form a joint venture (notified Sept. 16/deadline extended to May 16 after additional concessions offered)

MAY 19

-- Hutchison 3G UK to acquire Telefonica Ireland, a unit of Spanish telecoms provider Telefonica (notified Oct. 1/deadline extended for the second time to May 19 from April 24 after Hutchison offered concessions)

AUG 20

-- U.S. chemical maker Huntsman Corp to acquire U.S. peer Rockwood Holdings (Frankfurt: R6H.F - news) 's titanium dioxide pigments business (notified Jan. 29/deadline extended for the second time to Aug. 20 from July 22)

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. (Editing by Foo Yun Chee)