The Competition Commission has recommended to the Competition Tribunal that the proposed acquisition of Edgars Consolidated Stores by shelf company New HoldCo should be approved, arguing it would give the ailing retailer a much-needed lifeline and possibly help avoid job losses. The commission said it found the proposed transaction was unlikely to result in a […]
According to the Financial Times, Manfred Weber, a German MEP and “lead candidate” for the European People’s Party wants the next European Commission to behave “more politically” when making key decisions over merger rules and state-aid. Brussels should be ready to make “political” use of its powerful competition rules to foster the creation of European […]
A leading car dealer must pay €2,000 (US$2,252.90) to charity after pleading guilty to breaking competition law by failing to get the regulator’s approval to take over a rival, reported the Irish Times. Spirit Ford owner Armalou Holdings faced the first prosecution of its kind on Monday, April 8, for buying rival Lillis-O’Donnell Motor Company […]
Bloomberg reported that Siemens is exploring options for its struggling gas turbine business, and could look to form a joint venture with Japan’s Mitsubishi Heavy Industries (MHI). Manager Magazin on March 21 said Siemens “wants to accommodate the large turbine business of the Japanese Mitsubishi Group and in the future hold only a minority.” Reuters, […]
The largest futures exchanges in Japan are set to announce a merger this week as part of a national effort to take on foreign rivals and restore Tokyo’s place as the financial centre of Asia. According to people briefed on the negotiations, Japan Exchange Group (JPX) — owner of the Tokyo and Osaka stock exchanges […]
A US judge who has been asked to sign off on a government agreement that allowed CVS Health to buy health insurer Aetna ordered a hearing for April 5 on the matter. Judge Richard Leon of the US District Court for the District of Columbia issued the order on Thursday, March 14, saying that he […]
A US administrative law judge has dropped a hearing into Sinclair Broadcast’s US$3.9 billion bid to purchase Tribune Media because the deal had failed and further proceedings would be an “academic exercise.” But Administrative Judge Jane Halprin said in an order released on Tuesday, March 5, allegations that Sinclair, the largest US broadcast station owner, […]
Dollar Tree announced Wednesday, March 6, it will close up to 390 Family Dollar stores this year and convert another 200 into Dollar Tree locations. Additionally, while trimming Family Dollar stores, it will open 200 others in an updated format, while adding 350 new Dollar Trees. The merger, after a bidding war, was supposed to […]
According to the Financial Times, Margrethe Vestager has warned national capitals to be “aware of the consequences” of watering down merger rules, saying such a move would amount to a “strategic choice” to change Europe’s economic model. “We have a lot of state intervention in our economy but basically it is a very strategic choice […]
Experian has backed down over its $275m merger with credit rating checker rival Clearscore after a watchdog warned it could harm competition in the sector. “Taking into account subsequent interaction with the CMA (Competition and Markets Authority), Experian does not believe that the CMA will approve the proposed acquisition of ClearScore on satisfactory terms,” Experian said […]