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EU antitrust regulators extend Siemens, Dresser -Rand deal probe

Wednesday, Mar 11, 2015

European Union antitrust regulators have extended their investigation into Siemens' $7.6-billion proposed takeover of U.S. oilfield equipment maker Dresser-Rand Group Inc , the European Commission said.

The EU competition watchdog will now decide by July 14 instead of June 30 whether to clear the deal, one of Siemens' biggest.

The extra time will allow the Commission to do a more thorough investigation of the issues, said a person familiar with the matter.

The EU executive opened a full-scale probe last month, saying the deal by Europe's largest engineering group may reduce competition as the merged company would only compete with General Electric in turbo compressors and drivers for trains.

It also cited concerns about possible higher prices.

 

Source : http://in.reuters.com

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