EU Greenlights GKN's $440M Buy Of Auto Parts Suppliers

Law360, New York (September 28, 2011, 8:21 PM EDT) -- The European Commission on Wednesday approved the sale of two auto parts manufacturing joint ventures to U.K.-based engineering company GKN PLC for £283 million ($440.5 million), after concluding that the deal did not raise antitrust concerns.

The commission said the sale satisfied the European Union Merger Regulation, stating that the acquisition would not thwart competition in the European economic area and that customers had enough suppliers from which to choose.

“The Commission examined in particular the horizontal overlaps in the parties' activities in the area of...
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