On a Wall Street Journal report, The European Union (EU) accuses companies Canon Inc (CAJ), General Electric (GE), Merck (MKGAY), and Sigma-Aldrich Corp of violating the EU’s antitrust laws.

Margrethe Vestager, EU’s Competition Chief says her department is investigating new merger clearances if companies have in any way misled the commission upon registering for an antitrust review.

Mergers that are under suspicion include the $1.65 billion deal with GE and LM Wind Power, as well as the $17 million merger between Merck and Sigma Aldrich. The commission also suspects that Canon’s deal with Toshiba Medical Systems had been implemented before acquisition registration.

If found guilty, the companies may face a fine of up to 1% of their global revenue.

Source: The Street

Leave a Comment

Your email address will not be published. Required fields are marked *