French payments company Worldline’s €7.8 billion (US$9.23 billion) bid for Ingenico may require concessions to gain European Union antitrust regulator approval, the New York Times reported on Monday, September 7.
The acquisition by Worldline, which was born out of French IT company Atos, is emblematic of a wave of mergers and acquisitions that US rivals kicked off last year as they try to build up their share of digital transactions.
If Worldline is not able to allay EU concerns and in the absence of concessions, the deal would face a full-scale investigation following the end of the EU’s preliminary review.
Worldline has until Wednesday to offer concessions to the European Commission, unless it can convince the EU competition enforcer prior to that deadline that the move is unnecessary.
“We’re pursuing the usual procedure of discussions with the Commission and the process is underway, within the expected timetable,” Worldline stated.