Kroes Authorized To Stop Spain From Blocking E.On Bid

Law360, New York (April 7, 2006, 12:00 AM EDT) -- The European Commission this week gave its top antitrust regulator, Competition Commissioner Neelie Kroes, the authority to intervene if Spain tries to thwart German energy giant E.On AG's €29.1 billion bid to acquire Spanish rival Endesa SA.

The 25-member Commission made the decision based on information that Spain might take measures to block E.On's bid after the Spanish government broadened the powers of its National Energy Commission to potentially block the deal.

European Union member states and the International Monetary Fund have called Spain’s move protectionist,...
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