Rockwell Collins buys B/E Aerospace for $62 per share
Oct 23 Aircraft component maker Rockwell Collins Inc has struck a deal to buy aircraft interior maker B/E Aerospace Inc for $62 per share in cash and stock, the companies said.
BRUSSELS Oct 30 The following are mergers under review by the European Commission and a brief guide to the EU merger process:
APPROVALS AND WITHDRAWALS
-- British telecoms operator Vodafone to buy a minority stake in Vodafone Omnitel N.V. from U.S. peer Verizon Communications Inc (approved Oct. 30)
-- Dutch dredger Boskalis and investment company Reggeborgh to acquire joint control of subsea power cables supplier Visser & Smit Marine Contracting B.V. which is now solely controlled by Reggeborgh (approved Oct. 29)
-- Microsoft to acquire Nokia's phone business (notified Oct. 29/deadline Dec. 4)
-- Airport ground and cargo services handler Swissport, which is owned by private equity company PAI Partners, to acquire Servisair from French company Derichebourg SA (notified Oct. 29/deadline Dec. 4)
-- British private equity firm EQT VI to buy Finnish healthcare services company Terveystalo Healthcare (notified Oct. 28/deadline Dec. 3)
EXTENSIONS AND OTHER CHANGES
FIRST-STAGE REVIEWS BY DEADLINE
-- Switzerland-based INEOS and Belgian chemicals company Solvay to form a joint venture (notified Sept. 16/deadline extended to Nov. 5 from Oct. 21 after Solvay offered concessions)
-- South African furniture retailer Steinhoff International Holdings to acquire electrical appliances retailer Rudolf Leiner Gesellschaft m.b.H. and LKM Beteiligungsgesellschaft m.b.H. (notified Oct. 1/deadline Nov. 6/simplified)
-- Hutchison 3G UK to acquire Telefonica Ireland, a unit of Spanish telecoms provider Telefonica (notified Oct. 1/deadline Nov. 6)
-- U.S. maker of scientific and laboratory equipment Thermo Fisher Scientific to buy genetic testing equipment maker Life Technologies (notified Oct. 7/deadline Nov. 12)
-- Japanese trading house Mitsui & Co, Iskandar Investment Berhad (IIB) which is majority owned by Malaysian state investor Khazanah Nasional Berhad, and investment company UWI Capital One to acquire joint control of Medini Iskandar Malaysia Sdn Bhd, which is now jointly controlled by IIB and UWI (notified Oct. 9/deadline Nov. 14/simplified)
-- U.S. asset management fund Ares Management LLC and Canada's Ontario Teachers Pension Plan Board to acquire joint control of U.S. building products company CPG International LLC, which is now solely controlled by Ares (notified Oct. 11/deadline Nov. 18/simplified)
-- Norwegian telecoms operator Telenor to take a stake in a venture owned by Norwegian publishing house Schibsted and Singapore Press Holdings, and also to set up a joint venture with Schibsted focusing on South American business (notified Oct. 11/deadline Nov. 18/simplified)
-- Parkwind, which is an investment vehicle of Belgian supermarket chain Colruyt Group, and special purpose vehicle Summit Renewable Energy, which is owned by Japan's Sumitomo Corp, to acquire joint control of wind farm operator Belwind 1, which is now solely owned by Summit Renewable Energy (notified Oct. 11/deadline Nov. 18/simplified)
-- French luxury goods company LVMH to buy an 80 percent stake in Italian luxury cashmere clothing brand Loro Piana (notified Oct. 11/deadline Nov. 18/simplified)
-- Czech energy company EPH to acquire Slovakian power distributor Stredoslovenska Energetika (SSE) from French state-controlled utility EDF (notified Oct. 15/deadline Nov. 21)
-- Private equity investor 3i Group to acquire sole control of ferry operator Scandferries Holdings which is now jointly controlled by 3i and ACP Affiliates (notified Oct. 18/deadline Nov. 25/simplified)
-- U.S. bank Goldman Sachs to acquire sole control of British motor insurer Hastings Insurance Group (notified Oct. 21/deadline Nov. 26/simplified)
-- Japan's Suntory Beverage & Food Ltd to buy British drugmaker GlaxoSmithKline Plc's Lucozade and Ribena brands (notified Oct. 22/deadline Nov. 27)
-- French industrial group Schneider Electric to buy British engineer Invensys (notified Oct 24/deadline Nov. 29)
-- Private equity group Blackstone and investment bank Goldman Sachs to acquire joint control of British insurer Rothesay Life which is now solely owned by Goldman Sachs (notified Oct. 25/deadline Dec. 2)
-- Private equity investors Altor Funds and TryghedsGruppen to merge their Nordic fitness companies Elixia Holding III AS and Health & Fitness Nordic AB (notified Oct. 28/deadline Dec. 3)
-- Swiss cement maker Holcim to buy some of Mexican peer Cemex's assets in Germany (notified Sept. 3/dateline extended to March 10 from Oct. 22 after the Commission opened an in-depth investigation into the deal)
GUIDE TO EU MERGER PROCESS
The European Commission has 25 working days after a deal is filed for a first-stage review. It may extend that by 10 working days to 35 working days, to consider either a company's proposed remedies or an EU member state's request to handle the case.
Most mergers win approval but occasionally the Commission opens a detailed second-stage investigation for up to 90 additional working days, which it may extend to 105 working days.
Under the simplified procedure, the Commission announces the clearance of uncontroversial first-stage mergers without giving any reason for its decision. Cases may be reclassified as non-simplified -- that is, ordinary first-stage reviews -- until they are approved.
BEIJING, Oct 23 General Motors Co plans to launch a new SUV production line at its joint venture factory in the Chinese central city of Wuhan during the first half of 2017, the official Xinhua News Agency reported on Sunday, citing company sources.
MILAN, Oct 23 Storage rooms crammed with loan documents have emerged as a hidden front line in Italy's battle to save its banks from the threat of financial crisis.