The Antitrust Week In Review
Here are some of the developments in antitrust news this past week that we found interesting and are following.
EU regulators ask companies to delay merger filings over coronavirus disruption. European Union regulators have asked companies seeking to complete their desired mergers to delay submitting antitrust filings due to the coronavirus outbreak. That could affect the timelines of agreed deals. Among the biggest is the London Stock Exchange’s proposed acquisition of Refinitiv. LSE agreed last year to buy the data and analytics firm in a $27 billion deal aimed at offering trading across regions and currencies.
Danaher wins U.S. approval to buy GE Biopharma, with conditions. Danaher Corp. has won U.S. antitrust approval to buy General Electric’s biopharmaceutical business, GE Biopharma, for $21.4 billion on condition it sell some assets, the Federal Trade Commission said on Thursday. South Korea’s antitrust watchdog approved the proposed acquisition in February on condition that they sell certain assets to address monopoly concerns. The EU approved it in December. GE Chief Executive Lawrence Culp said the deal was a “critical milestone” in efforts to transform the company.
EU antitrust chief unveils state aid scheme to help virus-hit firms. EU antitrust chief Margrethe Vestager on Tuesday proposed a temporary framework to allow EU countries to help companies hit by the coronavirus crisis, without the risk of breaching the bloc’s rules against unfair subsidies. The measures, expected to be in place in the coming days once they are agreed by the 27 EU countries, include allowing governments to offer grants or tax advantages up to 500,000 euros ($551,200) to ailing companies.