Germany-based ContiTech and US-based Veyance are still expecting to close their merger by this year’s fourth quarter, despite antitrust probes that are ongoing in both jurisdictions to review the $1.91 billion rubber merger.
ContiTech first announced plans to acquire its US competitor in February. Since, some jurisdictions have reportedly opened a second phase of merger reviews. Still, a spokesperson for ContiTech said that a lengthy review was expected by both parties due to the size of the transaction.
ContiTech said the company recently submitted documents for examination to all necessary authorities. Both Germany and the US continue to probe the buyout.
Following the deal, ContiTech is expected to take a top spot in North America’s rubber conveyor belting and hose production.
Full content: Tire Business
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Throws the Bag: Tapestry’s Capri Deal Blocked Over Market Monopoly Concerns
Apr 22, 2024 by
CPI
Italy’s Antitrust Authority Investigates Enel’s Communication of Energy Price Hikes
Apr 22, 2024 by
CPI
UK Data Regulator Uncovers Flaws in Google’s Privacy Sandbox Proposal
Apr 22, 2024 by
CPI
Japan’s Antitrust Body Orders Google to Amend Ad Search Practices
Apr 22, 2024 by
CPI
Senator Blackburn Blasts Ticketmaster Amid DOJ Probe
Apr 22, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI