EU OKs Endesa Takeover Deal

Law360, New York (June 16, 2008, 12:00 AM EDT) -- The European Commission has cleared the €43.7 billion ($67.6 billion) merger and joint takeover of Spanish energy provider Endesa SA by Spain's Acciona SA and Italian rival Enel SpA. The EC is now preparing for a showdown with Spain, which has yet to withdraw its merger conditions.

The European Union's top antitrust regulator announced its decision Monday from Brussels, ruling that Acciona and Enel's acquisition of Endesa would not substantially hinder competition in the European Economic Area's wholesale electricity market.

Monday also marked the one-month deadline...
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