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EU mergers and takeovers (Feb 13)
February 13, 2017 / 2:40 PM / in 8 months

EU mergers and takeovers (Feb 13)

BRUSSELS, Feb 13 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

None

NEW LISTINGS

-- U.S. wireless carrier AT&T to acquire U.S. broadcaster and TV studio Time Warner (notified Feb. 10/deadline March 17/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

FEB 15

-- China’s Weichai Power Co raises its stake in German industrial vehicle and supply chain system maker Kion (notified Jan. 11/deadline Feb. 15/simplified)

FEB 16

-- Apollo Management to acquire Dutch lighting products maker Lumileds Holding (notified Jan. 12/deadline Feb. 16/simplified)

FEB 21

-- U.S. healthcare company Johnson & Johnson to acquire U.S. peer Abbot Laboratories’ eye-surgery unit (notified Jan. 17/deadline Feb. 21)

-- Japanese electronics products maker Sharp, which is a unit of Taiwanese conglomerate Hon Hai, to acquire a majority stake in UMC from Skytec UMC (notified Jan. 17/deadline Feb. 21/simplified)

FEB 22

-- Investment fund EQT Fund Management to acquire joint control of Germany energy company Getec Energie Holding which is now solely controlled by GEH GmbH (notified Jan. 18/deadline Feb. 22/simplified)

FEB 23

-- U.S. technology products distributor Tech Data to acquire U.S. electrical components distributor Avnet’s IT business (notified Jan. 19/deadline Feb. 23)

FEB 24

-- Swedish hygiene products and forestry group SCA to acquire German bandage and plaster cast maker BSN from private equity firm EQT (notified Jan. 20/deadline Feb. 24/simplified)

FEB 27

-- German engineering company Siemens to acquire U.S. software company Mentor Graphics (notified Jan. 23/deadline Feb. 27)

-- Japan’s NKT Cables to acquire Swiss power and automation company ABB’s high voltage cable business (notified Jan. 23/deadline Feb. 27)

MARCH 2

-- Private equity firm CVC Capital Partners to acquire Belgian aluminium products maker Corialis (notified Jan. 26/deadline March 2/simplified)

-- Swiss-based chemicals group Ineos to acquire French chemical company Arkema’s Oxo-alcohols business (notified Jan. 26/deadline March 2)

-- U.S. private equity firm KKR & Co LP to acquire Japanese conglomerate Hitachi’s power tools unit Hitachi Koki (notified Jan. 26/deadline March 2/simplified)

-- Japanese brewer Asahi Group Holdings Ltd to acquire Anheuser-Busch InBev’s beer businesses in central and eastern Europe (notified Jan. 26/deadline March 2)

MARCH 7

-- Investment group KKCG and Taiwanese technology company Hon Hai Precision Industry Co, which is also known as Foxconn, to set up a private equity fund (notified Jan. 31/deadline March 7/simplified)

-- South Korean conglomerate Samsung Electronics to acquire U.S. car and audio systems maker Harman International Industries (notified Jan. 31/deadline March 7/simplified)

MARCH 8

-- Canada Pension Plan Investment Board (CPPIB) to acquire minority stake and joint control along with Apax Partners over software development services provider GlobalLogic Holdings Ltd (notified Feb. 1/deadline March 8/simplified)

-- UK tech company Micro Focus to acquire Hewlett-Packard Enterprise’s software business (notified Feb. 1/deadline March 8)

MARCH 9

-- Private equity firm Kohlberg Kravis Roberts (KKR) to acquire a stake in German market research firm GfK (notified Feb. 2/deadline March 9/simplified)

-- U.S. aircraft component maker Rockwell Collins to acquire U.S. aircraft interior maker B/E Aerospace (notified Feb. 2/deadline March 9/simplified)

MARCH 10

-- Denmark’s Dong Energy, Australian investment bank Macquarie Group Ltd and Taiwanese chemicals company Swancor Ind Co Ltd to jointly acquire a Taiwanese offshore wind farm Formosa 1 Wind Power Co Ltd (notified Feb. 3/deadline March 10/simplified)

-- Slovenian energy group Petrol to take majority stake in natural gas wholesaler Geoplin (notified Feb. 3/deadline March 10)

-- Fairfax Financial HOldings Ltd to acquired certain Latin American and eastern European operations of American International Group (AIG). (notified Feb. 3/deadline March 10/simplified)

MARCH 13

-- Canada’s Public Sector Pension Investment Board (PSPIB) and Teachers Insurance and Annuity Association of America (TIAA) to acquire joint control of U.S. data centre operator Vantage Data Centers Holding Company (notified Feb. 6/deadline March 13/simplified)

-- Finnish fibre materials company Ahlstrom to merge with Finnish specialty paper maker Munksjo (notified Feb. 6/deadline March 13)

-- Private equity firms KKR and KSL Capital Partners IV to acquire joint control of U.S. hospitality operator Apple Leisure Group (notified Feb. 6/deadline March 13/simplified)

-- French banking mutual group Credit Mutuel Arkea and private equity firm Bridgepoint to acquire joint control of French consultancy Groupe Primonial (notified Feb. 6/deadline March 13/simplified)

-- Japan’s Mitsui Group to acquire a stake in UK train operator Group Anglia Rail Holdings from Dutch state-owned public transport firm Abellio (notified Feb. 2/deadline March 13/simplified)

-- German engineering company Siemens to merge assets with Spain’s Gamesa to form the world’s largest wind turbine maker (notified Feb. 6/deadline March 13)

MARCH 14

-- U.S. asset manager The Blackstone Group to acquire German property developer Officefirst Immobilien AG (notified Feb. 7/deadline March 14/simplified)

-- Private equity firm HIG Capital to acquire IT security products maker Infinigate Holding AG (notified Feb. 7/deadline March 14/simplified)

MARCH 23

-- German cement producers Heidelbergcement and Schwenk to jointly acquire Mexican peer Cemex’s Croatian unit (notified Sept. 5/deadline extended to March 23 from March 2 after the companies submitted concessions)

APRIL 3

-- Deutsche Boerse and the London Stock Exchange to merge (notified Aug. 24/deadline extended to April 3 from March 13 after the companies offered concessions)

APRIL 4

-- U.S. chemicals company Dow Chemical to merge with DuPont (notified June 22/deadline extended to April 4 from March 14 after the companies offered concessions)

APRIL 12

-- Chinese state-owned company China National Chemical Corp (ChemChina) to acquire Swiss pesticides and seeds group Syngenta (notified Sept. 23/deadline extended to April 12)

SUSPENDED

-- Azerbaijan’s state energy company SOCAR 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 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)

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