EU Steps Up Scrutiny Of IBM-Cognos Merger

Law360, New York (January 22, 2008, 12:00 AM EST) -- The European Union has introduced a wrinkle into IBM Corp.'s $5 billion purchase of a major Canadian software company.

The EU's top competition authority has announced it will investigate the merger under its regular protocol, rather than under its simplified procedure, according to numerous published reports.

Ottawa-based Cognos Inc. has agreed to be purchased by a wholly-owned indirect subsidiary of IBM for $58 per share in an all-cash transaction expected to have a net value of roughly $4.9 billion.

Its shareholders, the Canadian Competition Bureau, and...
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