EU: Commission rules on Apple, Beats merger

Apple has reportedly been given antitrust clearance from the European Commission to acquire Beats Electronics.

Reports say the Commission approved of the $3 billion takeover of the maker of Beats Headphones and the operator of music streaming service Beats Music. The acquisition was announced last May.

According to reports, the takeover marks the most expensive deal ever made by Apple.

The Commission said Monday that the deal does not significantly threaten competition in the music electronics industry and that the parties will continue to face strong competition across the EU.

Full content: ABC News

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.