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E.U. Clears Toshiba's $5.4B Westinghouse Purchase

Law360 (September 20, 2006, 12:00 AM EDT) -- The European Commission’s antitrust authority has cleared the sale of British nuclear technology company Westinghouse Electric Ltd. to Toshiba Corp., so long as the Japanese engineering firm makes certain changes to its joint venture agreements.

The E.C. said that its approval of the $5.4 billion deal was secured after Toshiba agreed to alter contract agreements for nuclear fuel assemblies with General Electric Co.’s Global Nuclear Fuels unit, as well as Hitachi Ltd.

The E.C. said that although the companies’ nuclear services are complementary, both technologically and...
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