Yesterday, Saipem and Subsea7 formally notified their merger to the EC.
In our report on Monday, a source with knowledge of the matter was quoted saying that the parties were in the process of responding to the last request for information before filing for EU merger approval.
CADE's general superintendence is expected to decide on the matter in the coming days, with an opinion likely be issued before 25 June, when the mandate of current general superintendent Alexandre Barreto de Souza is due to expire, according to a source involved in the process.
The European Commission has recently reached out to third parties as part of its antitrust probe into the planned €5.3bn (US$6.1bn) acquisition of fund distribution platform Allfunds by Deutsche Börse, a third party who was contacted by the EU regulator told @equityreportuk
A consortium led by PIF is in discussions with the EC on how to address unlimited state guarantee concerns in order to secure FSR clearance for its US$55bn takeover of US video game developer Electronic Arts, a source with knowledge of the case told @equityreportuk yesterday.
The planned Paramount Skydance/Warner Bros. Discovery merger was formally notified to the European Commission yesterday, 2 June, with a provisional deadline set for 7 July.
Last week, @equityreportuk reported that the official filing would be imminent.
$PSKY $WBD #mergers#news
The Vereniging van Effectenbezitters (VEB), the industry body representing the rights and interests of investors in the Netherlands, told @equityreportuk it favours an all-cash offer for Dutch paints maker AkzoNobel over a merger with US peer Axalta.
This news service previously reported that both counterbidders were the most likely suitors for some of the overlapping assets that Akzo and Axalta are expected to divest to address antitrust concerns. What's the likelihood of a further revised proposal for the target?
Subscribe or log in to read our latest report on the Australian review of the Paramount Skydance/Warner Bros. Discovery merger, alongside an update on interested parties' interactions with EU policymakers.
$PSKY $WBD #entertainment#merger#antitrust
https://t.co/ORj9LLfsFu
The UK Competition and Markets Authority (CMA) and the European Commission (EC) are expected to collaborate more closely on the design of remedies in cross-border merger control reviews, competition lawyers practising on both sides of the pond told @equityreportuk.
#AKZONOBEL $AXTA #coatings#merger#antitrust
Read the full story, including an update on the status of the EC filing for the tie-up, here:
https://t.co/FBcHXQotaE
AkzoNobel and Axalta have recently filed for antitrust approval with Brazilian regulator CADE for their planned merger under summary proceedings, arguing that, although the deal results in horizontal overlaps in certain types of coating products, it does not raise concerns.