European Union Calendar of Pending Merger Cases, Latest Rulings
By Molly Schuetz
Brussels, March 26 (Bloomberg) -- The following is a calendar of proposed mergers, acquisitions and joint ventures of which the European Commission's competition authorities have been notified, and a record of the commission's latest rulings.
The commission has one month after receiving notification of proposed mergers and acquisitions to conduct an initial review and determine whether the transactions create or enhance a dominant position.
Third parties have 10 days after notification to submit their comments to the commission. Companies may resubmit proposed mergers and acquisitions to the commission under adjusted terms, resetting the initial investigation's one-month clock.
The commission clears more than 90 percent of mergers and acquisitions after the initial review. If companies offer concessions to address EU antitrust concerns during the first three weeks of a probe, the one-month deadline is postponed two weeks. If the concessions aren't sufficient the commission opens a second-stage investigation, which can take four more months.
The commission can block or force changes to mergers between companies with combined global sales of 5 billion euros ($4.7 billion) and EU sales of 250 million euros each, even if the companies are from outside the 15-nation EU.
LATEST RULINGS:
MARCONI/RAILTRACK: Clearance of Marconi Plc, the U.K.'s No. 1 phone-equipment maker, and Railtrack Group Plc, which owns the U.K.'s rail tracks and stations, joint venture to put up and manage an infrastructure of telecommunications masts. Date notified: Feb. 22. Ruling: March 26. Tickers: MONI LN (Marconi) RTK LN (Railtrack)
BAE SYSTEMS/XCHANGING: Clearance of BAE Systems Plc, Europe's largest defense contractor, and General Atlantic Partners LLC's Xchanging, an Internet provider of business administration services, creation of a jointly owned human resources company. Date notified: Feb. 23. Ruling due: March 26. Tickers: BA/ LN (BAE Systems) 17757Z US (GAP)
MERGERS AND ACQUISITIONS IN ONE-MONTH REVIEW
PPR/SALZAM: Pinault-Printemps-Redoute SA, France's largest retailer of clothes, computers and furniture, purchase of Salzam Mercatone Holding, an Italian retailer. Date notified: Feb. 26. Ruling due: March 27. Tickers: PP FP (Pinault)
OUTOKUMPU/NORZINK: Outokumpu Oyj, a Finnish producer of copper and nickel, purchase of Norwegian zinc refiner Norzink AS from Rio Tinto Plc and Boliden Ltd. as part of a larger plan to expand output. Date notified: Feb. 26. Ruling due: March 27. Tickers: OUT1V FH (Outokumpu) 1186Z NO (Norzink)
HSBC/BANQUE HERVET: HSBC Holdings Plc's CCF unit purchase of Banque Hervet, France's last state-owned bank, to bolster its regional network. Date notified: Feb. 26. Ruling due: March 27. Tickers: HSBA LN (HSBC) 2370Z FP (Banque Hervet)
DENSO/MAGNET MARELLI: Denso Corp. purchase of Magneti Marelli, Fiat SpA's car-parts arm, as Japan's largest auto-parts maker hopes to boost European sales. Date notified: Feb. 26. Ruling due: March 27. Tickers: 6902 JP (Denso) GIL IM (Marelli)
SUEZ LYONNAISE/TEKA: Teka Industrial SA, a Spanish company that manufactures and sells sinks and kitchen appliances, purchase of Holdivat SA, a holding company owned by Suez Lyonnaise des Eaux SA and VIV NV. Date notified: Feb. 26. Ruling due: March 27. Tickers: LY FP (Suez)
PEPSICO/QUAKER: PepsiCo Inc. purchase of Quaker Oats Co., giving the No. 2 soft-drink company the Gatorade sports-drink business and food brands such as Cap'n Crunch cereal and RICE-A- RONI side dishes. Date notified: Feb. 26. Ruling due: March 27. Tickers: PEP US (Pepsico) OAT US (Quaker)
BASF/SISAS: BASF AG, Europe's biggest chemical manufacturer, purchase of Pantochim SA, Eurodiol SA and ProvionFtal nv, all belonging to the SISAS Group. Date notified: Feb. 12. Ruling due: March 27, extended by two weeks by commission. Tickers: BAS GR (BASF)
SHELL/E.ON/SIEMENS: Royal Dutch/Shell Group, Europe's largest oil company, solar energy joint venture with Germany's Siemens AG and E.ON AG, as part of a plan to grow its solar power business. Date notified: Feb. 27. Ruling due: March 28. Tickers: EOA GR (E.ON) SIE GR (Siemens) RDSG1 LN (Shell)
THALES/RAYTHEON: Thales SA and Raytheon Co., the world's biggest electronics defense contractors, joint venture to develop air-defense and radar systems, a step that will deepen French-U.S. defense ties. Date notified: Feb. 15. Ruling due: March 30 after commission extended deadline. Tickers: HO FP (Thales) RTN/A US (Raytheon)
CAMPBELL/UNILEVER: Campbell Soup Co., the biggest soup maker, purchase of several of Unilever's sauce and packet-soup businesses to expand in Europe and gain brands such as Oxo bouillon cubes. Date notified: March 1. Ruling due: April 2. Tickers: CPB US (Campbell) UN NA (Unilever)
A.P. MOELLER/DANSKE BANK: A.P. Moeller's information technologies unit Dmdata A/S and Danske Bank Aktieselskab and Kommunedata A/S join together to create e-Boks A/S to provide safe infrastructure for sending, receiving and storing electronic documents and mail. Date notified: March 1. Ruling due: April 2. tickers: DSAA DC (A.P. Moeler) DANSKE DC (Danske Bank)
3I/RATOS/ATLE: 3i Group Plc, Europe's largest publicly traded buyout firm, and Swedish investment company Ratos AB purchase of rival Atle AB, completing 3i's European network. Date notified: March 1. Ruling due: April 2. Tickers: RATOB SS (Ratos) III LN (3i) ATLE SS (Atle)
GETRONICS/HAGEMEYER: Getronics NV, Europe's No. 3 computer- services company, merger of its hardware distribution activities with professional-products distributor Hagemeyer NV as Getronics continues to move away from its peripheral businesses. Date notified: Dec. 22. Ruling due: April 2 after re-notification. Tickers: GTN NA (Getronics) HAGN NA (Hagemeyer)
HUNTSMAN/RHODIA: Huntsman Corp., the world's largest closely held chemical maker, purchase of Rhodia SA's European surfactants unit which was created after Rhodia took over Albright & Wilson Plc, becoming the top maker of phosphates for products such as toothpaste and laundry detergent. Date notified: March 1. Ruling due: April 2. Tickers: 5675Z US (Huntsman) RHA FP (Rhodia)
SCHNEIDER/LEGRAND: Schneider Electric SA purchase of Legrand SA, adding Legrand's faster-growing household and office electrical accessories to its own industrial controls. Date notified: Feb. 19. Ruling due: April 3, after commission extended deadline. Tickers: SU FP (Schneider) LR FP (Legrand)
FLEXTRONICS/ERICSSON: Flextronics International Ltd., based in Singapore, purchase of Ericsson AB's unprofitable mobile phone production business. Date notified: March 5. Ruling due: April 6. Tickers: FLEX US (Flextronics) LMEB SS (Ericsson)
DOW CHEMICAL/ENICHEM: Dow Chemical Co., the world's largest maker of polyethylene plastic, used in garbage bags, purchase of EniChem SpA's polyurethane unit. Date notified: March 5. Ruling due: April 6. Tickers: DOW US (Dow) ENIM IM (EniChem)
SCHLUMBERGER/SEMA: Schlumberger Ltd., an oilfield-service company that has expanded into electronic meters and ``smart'' bank and credit cards, purchase of computer-system consultant Sema Plc. Date notified: March 5. Ruling due: April 6. Tickers: SLB US (Schlumberger) SEM LN (Sema)
RCS EDITORI/VNU/CLARITAS: VNU NV, the publisher of Billboard magazine, and RCS Editori SpA, publisher of Italy's two largest newspapers, purchase of Claritas Italia, a marketing information company in Italy. Date notified: March 6. Ruling due: April 9. Tickers: 1529Z IM (RCS) VNUN NA (VNU)
PHILIPS/LG ELECTRONICS: Royal Philips Electronics NV, Europe's biggest maker of consumer electronics, and LG Electronics Inc. joint venture to create the largest manufacturer of screens for televisions and computers. Date notified: March 6. Ruling due: April 9. Tickers: PHIL NA (Philips) 0261 KS (LG Electronics)
E.ON/SYDKRAFT: E.ON AG, Germany's largest utility, purchase of Sydkraft AB, Sweden's largest traded utility, to expand in Northern Europe. Date notified: March 6. Ruling due: April 9. Tickers: EOA GR (E.ON) SYDA SS (Sydkraft)
ENICHEM/POLIMERI: EniChem SpA won European Commission approval to buy the 50 percent stake it doesn't already own in Polimeri Europa Srl, its joint venture with Union Carbide. Dow Chemical Co. bought Union Carbide and needed to sell the stake to meet European antitrust requirements. Date notified: March 8. Ruling due: April 9. Tickers: ENI IM (ENI) 1951Z IM (Polimeri) DOW US (Dow)
BUHRMANN/SAMAS: Buhrmann NV, the largest office supplies distributor in the U.S., purchase of Samas Groep NV's office- products unit as it seeks to become Europe's market leader. Date notified: Jan. 10. Ruling due: April 11 after commission delays ruling. Tickers: BUH NA (Buhrmann) SAMNC NA (Samas)
ENDESA/SNET: Endesa SA, Spain's biggest electricity company, purchase of a 30 percent stake in Societe Nationale de Thermique et d'Electricite, a French electricity generator, giving Endesa a foothold in France, to allow it to buy and sell power in the rest of Europe. Date notified: March 9. Ruling due: April 18. Tickers: ELE SM (Endesa)
NEMETSCHEK/BILFINGER: Nemetschek AG, Germany's largest maker of construction-industry software, Internet joint venture with Bilfinger + Berger AG, Germany's No. 2 builder, and Strabag Bau Holding AG, a unit of Bauindustrie Beteiligungs AG, Europe's No. 6 such company, as they expand their online activities. Date notified: March 9. Ruling due: April 18. Tickers: GBF GR (Bilfinger) NEM GR (Nemetschek)
CRH/ADDTEK: CRH Plc, Europe's third-largest maker of building materials, purchase of Addtek International, Finland's largest maker of cement, giving CRH a presence in Sweden and Norway. Date notified: March 9. Ruling due: April 18. Tickers: CRH ID (CRH) PAR1S FH (Addtek)
GEVAERT/AGFA-GEVAERT: Gevaert NV, a Belgian holding company, acquires sole control of Agfa-Gevaert NV, Europe's largest maker of X-ray systems, after Bayer AG sells its 30 percent stake in Agfa. Date notified: March 9. Ruling due: April 18. Tickers: AGF BB (Agfa) GEVA BB (Gevaert)
DE BEERS/LVMH: De Beers, the world's biggest diamond company, and LVMH Moet Hennessy Louis Vuitton, the largest luxury goods company, $400 million retail venture as part of a plan to exploit the long-neglected De Beers name and enter the U.S. market. Date notified: March 9. Ruling due: April 18. Tickers: 1004Q SJ (De Beers) MC FP (LVMH)
BHP/CAEMI: BHP Ltd., Australia's No. 1 resources company, purchase of a controlling stake in Brazilian iron-ore miner Caemi Mineracao e Metalurgica SA, boosting its seaboard shipments by about half. Date notified: March 12. Ruling due: April 19. Tickers: BHP AU (BHP) CMET4 BZ (Caemi)
BELGACOM/MEDIAXIS: Belgacom SA, Belgium's dominant phone company, and Mediaxis NV joint venture to form an Internet portal aimed at women. Date notified: March 13. Ruling due: April 19. Tickers: 1008Z BB (Belgacom)
SHELL/3I/BEACON: The Beacon Group Energy Investment Fund, Royal Dutch/Shell Group and 3i Group Plc acquire joint control of a company to be named Twister, that will be involved in developing, manufacturing and selling natural gas processing solutions. Date notified: March 15. Ruling due: April 20. Tickers: III LN (3i) RDSG1 LN (Shell) 9440Z US (Beacon)
MERGERS AND ACQUISITIONS UNDER SECOND-STAGE REVIEW
BOMBARDIER/DAIMLERCHRYSLER: Bombardier Inc., the world's No. 1 maker of passenger rail cars, planned purchase of DaimlerChrysler AG's Adtranz train-making unit. Date notified: Oct. 20. Date to second stage: Dec. 6. Ruling due: April 23. Tickers: BBD/B CN (Bombardier) DCX GR (DaimlerChrysler)
MAN/AUWAERTER: MAN AG purchase of Gottlob Auwaerter GmbH & Co. to gain 35 percent of the German bus market. Date notified: Jan. 3. Date to second stage: Feb. 15. Ruling due: June 28. Tickers: MAN GR (MAN)
GE/HONEYWELL: General Electric Co. purchase of Honeywell International Inc. that will create an aerospace business expected to have more than $20 billion in revenue, and mesh the companies' activities in power, plastics and industrial systems. Date notified: Feb. 5. Date to second stage: March 1. Ruling due: July 12. Tickers: GE US (General Electric) HON US (Honeywell)
HUTCHISON/EUROPE COMBINED TERMINALS: Hutchison Whampoa Ltd., controlled by Hong Kong billionaire Li Ka-shing, joint purchase with the port of Rotterdam of Europe Combined Terminals BV. Date notified: Jan. 31. Date to second stage: March 1. Ruling due: July 12. Tickers: 13 HK (Hutchison) NLYN NA (Nedlloyd)
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