Advertisement
UK markets open in 6 hours 30 minutes
  • NIKKEI 225

    38,175.67
    -26.70 (-0.07%)
     
  • HANG SENG

    18,313.86
    -165.51 (-0.90%)
     
  • CRUDE OIL

    79.29
    +0.30 (+0.38%)
     
  • GOLD FUTURES

    2,315.00
    -7.30 (-0.31%)
     
  • DOW

    39,056.39
    +172.13 (+0.44%)
     
  • Bitcoin GBP

    49,121.71
    -848.15 (-1.70%)
     
  • CMC Crypto 200

    1,305.04
    +10.36 (+0.80%)
     
  • NASDAQ Composite

    16,302.76
    -29.80 (-0.18%)
     
  • UK FTSE All Share

    4,544.24
    +21.25 (+0.47%)
     

EU mergers and takeovers (Nov 9)

BRUSSELS, Nov 9 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Coca-Cola Enterprises, Coca-Cola Iberian Partners (LSE: 0QOQ.L - news) , German bottler Coca-Cola Erfrischungsgetraenke AG and Icelandic bottler Vífilfell hf to merge (approved Nov. 6)

-- Japanese steel producer Marubeni-Itochu Steel and Sumitomo Corp to combined their domestic Japanese steel building materials businesses (approved Nov. 6)

-- Swiss insurer ACE to acquire U.S (Other OTC: UBGXF - news) . peer Chubb (approved Nov. 6)

-- Insurance broker Willis Group to acquire financial management services provider Towers Watson & Co (NasdaqGS: TW - news) (approved Nov. 6)

ADVERTISEMENT

NEW LISTINGS

-- Private equity firm KKR to acquire Swiss-based vending machine operator Selecta (notified Nov. 6/deadline Dec. 11/simplified)

-- Private equity firm LetterOne Holdings to acquire German energy company E.ON's oil and gas assets in the Norwegian North Sea (notified Nov. 6/deadline Dec. 11/simplified)

-- Trading company Gunvor Group to acquire refinery operator Kuwait Petroleum Europoort (notified Nov. 6/deadline Dec. 11/simplified)

-- Swiss Re (LSE: 0QL6.L - news) to acquire Guardian Financial Services (notified Nov. 6/deadline Dec. 11/simplified)

-- Canadian auto parts maker Linamar (Other OTC: LIMAF - news) to acquire French peer Montupet (Other OTC: MNTPF - news) (notified Nov. 6/deadline Dec. 12)

-- German dairy producer DMK Deutsches Milchkontor GmbH to acquire Dutch cheese producer DOC Kaas B.V. (notified Nov. 5/deadline Dec. 10)

-- Austrian home improvement chain OBI (Taiwan OTC: 4174.TWO - news) to acquire some retail sites from Austrian peer BauMax (notified Nov. 4/deadline Dec. 9)

EXTENSIONS AND OTHER CHANGES

-- Hutchison Whampoa to acquire Telefonica (Amsterdam: TA6.AS - news) 's O2 UK subsidiary (notified Sept. 11/deadline extended for the fourth time to April (LSE: 0N69.L - news) 18 from March 16 after Hutchison (HKSE: 0013-OL.HK - news) asked for more time)

-- U.S. industrial group Honeywell to acquire the Elster utility consumption metering business of British company Melrose Industries Plc (Other OTC: MLSPF - news) (notified Oct (HKSE: 3366-OL.HK - news) . 9/deadline Nov. 16/filing withdrawn Nov. 3)

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

NOV 13

-- U.S. data center operator Equinix (NasdaqGS: EQIX - news) to acquire British peer Telecity Group (LSE: TCY.L - news) (notified Sept. 24/deadline extended to Nov. 13 from Oct. 29 after Equinix offered concessions)

NOV 16

-- BT Pension Scheme and Canada Pension Plan Investment Board to acquire a London property (notified Oct. 9/deadline Nov. 16/simplified)

NOV 18

-- Belgian chemical group Solvay (Brussels: SOLB.BR - news) to acquire U.S. peer Cytec (notified Oct. 13/deadline Nov. 18)

NOV 20

-- China's HNA Group to acquire Swiss air cargo handler Swissport International (notified Oct. 15/deadline Nov. 20)

NOV 23

-- U.S. chipmaker Avago Technologies to acquire U.S. peer Broadcom Corp (NasdaqGS: BRCM - news) (notified Oct. 2/deadline extended to Nov. 23 from Nov. 9 after Avago offered concessions)

-- Finland's Fortum (Other OTC: FOJCF - news) and Lithuanian state-owned energy group Lietuvos Energija to set up a joint venture (notified Oct. 16/deadline Nov. 23)

-- Apollo Capital Management and hotel management company Redefine BDL Hotels UK Ltd to acquire joint control of British hotel operator LRG Finance (notified Oct. 16/deadline Nov. 23/simplified)

NOV 26

-- Bain Capital Investors to acquire car parts distributor Autodistribution Group (notified Oct. 21/deadline Nov. 26/simplified)

NOV 27

-- Panasonic Healthcare, which is backed by private equity firm KKR, and Japan's Panasonic Corp, to acquire Bayer (Milan: BAY.MI - news) 's diabetes care business (notified Oct. 22/deadline Nov. 27)

NOV 30

-- Austrian insurer Generali Holding Vienna's Generali (Swiss: ASG.SW - news) Pensionskasse AG subsidiary and Zürich Versicherungs-Aktiengesellschaft's BONUS Pensionskassen unit to merge (notified Oct. 23/deadline Nov. 30/simplified)

-- Canadian car parts supplier Magna International to acquire car parts maker Stadco Automotive Ltd (notified Oct. 23/deadline Nov. 30/simplified)

-- The Carlyle Group to acquire PA Consulting (notified Oct. 23/deadline Nov. 30/simplified)

DEC 1

-- Swiss chemicals company Ineos to acquire UK North Sea gas fields from the DEA Group (notified Oct. 26/deadline Dec. 1/simplified)

DEC 3

-- French supermarket chain Carrefour (Paris: FR0000120172 - news) to acquire French electronic products retailer Rue du Commerce (notified Oct. 28/deadline Dec. 3/simplified)

DEC 7

-- U.S. fertiliser maker CF Industries Holdings to acquire OCI NV's North American and European plants (notified Oct. 30/deadline Dec. 7)

-- French investment company Ardian France to acquire food ingredient maker Solina (notified Oct. 30/deadline Dec. 7/simplified)

-- Enel Green Power (Other OTC: ELPSF - news) and asset management company F2I to set up a joint venture (notified Oct. 30/deadline Dec. 7)

-- German carmaker BMW (Swiss: BMW.SW - news) and heating and refrigeration systems maker Viessmann to set up Digital Energy Solutions GmbH (notified Oct. 30/deadline Dec. 7/simplified)

-- Investment firm Oaktree Capital Group, Swedish builder Skanska (Stockholm: SKA-B.ST - news) and hotel operator Starwood Hotels & Resorts Worldwide to acquire Polish hotel operator Hotel Atrium (notified Oct. 30/deadline Dec. 7/simplified)

DEC 8

-- Swedish state utility Vattenfall and GDF Suez Energie Deutschland AG to to set up a consortium (notified Nov. 3/deadline Dec. 8)

-- U.S. conglomerate Koch Industries and BDT Capital Partners (LSE: 0LSM.L - news) to acquire joint control of U.S. lighting maker Truck-Lite (notified Nov. 3/deadline Dec. 8/simplified)

DEC 10

-- Spanish bank Banco Santander (Amsterdam: 817651.AS - news) and private equity firm Pai Partners to jointly control Grupo Konectanet (notified Nov. 5/deadline Dec. 10/simplified)

DEC 23

-- U.S. drinks can maker Ball Corp (NYSE: BLL - news) to acquire British rival Rexam Plc (LSE: REX.L - news) (notified June 15/deadline extended for the second time to Dec. 23 from Dec. 9)

JAN 13

-- U.S. packages delivery company FedEx (Swiss: FDX.SW - news) to acquire Dutch peer TNT (notified July /deadline extended to Jan. 13 from Dec. 8 after the companies asked for more time)

JAN 18

-- South African paper maker Mondi (LSE: MNDI.L - news) to acquire some assets from portfolio company Walki (notified July 29/deadline extended to Jan. 18 from Sept. 2 after the European Commission opened an in-depth investigation)

FEB 10

-- U.S. office supplier Staples (NasdaqGS: SPLS - news) to acquire U.S. rival Office Depot (NasdaqGS: ODP - news) (notified Aug. 21/deadline extended to Feb. 10 from Sept. 25 after the European Commission opened an in-depth investigation)

MARCH 17

-- Cable telecoms company Liberty Global (NasdaqGS: LBTYA - news) 's Belgian subsidiary Telenet (Other OTC: TLGHY - news) to buy mobile network operator Base from Dutch group KPN (notified Aug. 17/deadline extended to March 17 from March 3)

SUSPENDED

-- Oilfield services provider Halliburton (Hanover: HAL.HA - news) to buy rival Baker Hughes in a stock and cash transaction (notified July 23/deadline suspended after the companies provided insufficient information)

-- SOCAR, Azerbaijan's state energy company, 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 (Other OTC: ITGL - news) 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)