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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.