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

    51,691.61
    +2,094.53 (+4.22%)
     
  • CMC Crypto 200

    1,371.97
    +59.34 (+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 (May 8)

BRUSSELS, May 8 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Toyota Industries Europe to acquire Vive, the parent company of Dutch industrial company Vanderlande Industries Holding B.V (approved May 5)

-- French insurer Axa (Paris: FR0000120628 - news) and French state-owned bank Caisse des Depots et Consignations to jointly acquire two commercial lots in a shopping centre (May 5)

NEW LISTINGS

-- Austrian refractories materials maker RHI (IOB: 0MJ5.IL - news) to acquire a controlling stake in Brazilian peer Magnesita Refratarios (notified May 5/deadline June 15)

ADVERTISEMENT

-- Private equity (IOB: 0QLS.IL - news) firms BC Partners and Pollen Street Capital Ltd to jointly acquire UK bank Shawbrook Group plc (LSE: SHAW.L - news) (notified May 4/deadline June 14/simplified)

EXTENSIONS AND OTHER CHANGES

None

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

MAY 12

-- Taiwan (Taiwan OTC: 6549.TWO - news) 's Ennoconn, which is part of electronics maker Foxconn, to increase its stake in Austrian IT group S&T (Taiwan OTC: 3674.TWO - news) (notified March 31/deadline May 12)

-- U.S. chemicals group Riechhold and Black Diamond Capital to acquire Italian polymers maker Polynt (Stuttgart: 2746556.SG - news) which is owned by Italian private equity group Investindustrial (notified March 17/deadline May 12/commitments offered March 17)

-- Singapore-based tech communications company Broadcom (Frankfurt: 28425279.F - news) to acquire U.S. networking switches and software maker Brocade (notified March 17/ deadline extended to May 12 from April 26)

MAY 15

-- Private equity firm KKR and Spanish telecoms provider Telefonica (LSE: 826858.L - news) tp acquire joint control of Spanish telecoms infrastructure provider Telxius (notified April 3/deadline May 15/simplified)

MAY 19

-- Italian cinema operator The Space Cinema, which is controlled by Vue International Holdco Ltd, and Italian peer UCI Italian S.p.A. which is part of Chinese conglomerate Dalian Wanda Group, to set up a joint venture (notified April 7/deadline May 19)

-- German industrial gas producer Linde (IOB: 0H3X.IL - news) and Russian power generation equipment maker PJSC Power Machines to set up a joint venture (notified April 7/deadline May 19/simplified)

-- U.S. packaging company WestRock to acquire U.S. peer Multi Packaging Solutions (notified April 7/deadline May 19)

-- Asset manager Ares Management L.P. and investment firm The Baupost Group to jointly acquire German shopping mall operator Prejan Enerprises Ltd (notified April 7/deadline May 19/simplified)

MAY 22

-- Investment firms Cinven Capital Management and Canada Pension Plan Investment Board to acquire joint control of Travel Holdings Parent Corporation (notified April 10/deadline May 22)

May 23

-- Private equity company KKR & Co. and Caisse de Depot et Placement du Quebec to acquire Onex Corp's USI Insurance Services (notified April 11/deadline May 23/sinplified)

MAY 24

-- Japan-based Zen-Noh to acquire a 33 percent stake in a Brazilian joint venture between French commodities trader Louis Dreyfus Company and Brazilian soy processor-exporter Amaggi (notified April 12/deadline May 24/simplified)

-- American healthcare company Johnson & Johnson (NYSE: JNJ - news) to acquire Swiss biotech company Actelion (notified April 12/deadline May 24)

-- Investment company Nordic Capital to acquire credit management services company Intrum Justitia (LSE: 0H9P.L - news) (notified April 12/deadline May 24)

MAY 29

-- French EDF to acquire equipment and fuel manufacturing company Areva (Euronext: AREVA.NX - news) (notified April 18/deadline May 29)

MAY 30

-- French media group Vivendi (LSE: 0IIF.L - news) to acquire de facto sole control of Italy's Telecom Italia (Amsterdam: TI6.AS - news) (notified March 31/deadline extended to May 30 from May 12 after Vivendi offered concessions)

MAY 31

-- Manufacturing and technology company General Electric (Euronext: GNE.NX - news) 's Oil & Gas to acquire oilfield services company Baker Hughes (notified April 20/deadline May 31)

-- Investment companies TPG (Taiwan OTC: 6521.TWO - news) and Oaktree to take joint control over Britain's Iona Energy Co, which owns 75 percent of two undeveloped oil fields in the North Sea and that will be active in crude oil production and sale (notified April 20/deadline May 31/simplified)

JUNE 1

-- French aircraft engine and aerospace equipment company Safran (LSE: 0IU8.L - news) and China Eastern Airlines Co. Ltd. to form joint venture to provide aircraft maintenance in China (notified April 21/deadline June 1/simplified)

-- Energy company Electricite de France (LSE: 0HBA.L - news) , French state-owned bank Caisse des depots et consignations and Japan's Mitsubishi Corporation (LSE: 0Q0J.L - news) to create a joint venture NGM to finance electric mobility projects mainly in France (notified April 21/deadline June 1/simplified)

-- Wastewater company SGAB and Spanish infrastructure company Acciona (Amsterdam: AN6.AS - news) to acquire 10 percent of Sociedad Concesionaria de la Zona Regable del Canal de Navarra (notified April 21/deadline June 1/simplified)

JUNE 2

-- Australian bank Macquarie and British pension fund Universities Superannuation Scheme to acquire Green Investment Bank (notified April 24/deadline June 2/simplified)

JUNE 7

-- German company CWS-Boco (Shanghai: 600289.SS - news) , which is part of German firm Haniel, to acquire some of British support services firm Rentokil's workwear and hygiene units (notified April 26/deadline June 7)

JUNE 8

-- German chemicals company Evonik Industries (IOB: 0QDS.IL - news) to acquire U.S. company J.M. Huber Corp's silica business (notified April 27/deadline June 8)

JUNE 9

-- Private equity firm Hellman & Friedman to acquire Spanish logistics platform Allfunds Bank (notified April 28/deadline June 9/simplified)

-- U.S. smartphone chipmaker Qualcomm (Swiss: QCOM-USD.SW - news) to acquire Dutch companyr NXP Semiconductors NV (NasdaqGS: NXPI - news) (notified April 28/deadline June 9)

-- Chinese textiles company Shanghai Shenda to acquire International Automotive Components Group's trim and acoustics unit business (notified April 24/deadline June 9/simplified)

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. (Reporting by Foo Yun Chee)