The Dell Boys
The Dell Boys

EC Accuses GE, Merck KgaA And Canon Of Breaking Merger Rules

EC Accuses GE, Merck KgaA And Canon Of Breaking Merger Rules

The three mergers include Merck's takeover of Sigma-Aldrich, General Electric's planned acquisition of LM Wind and Canon's deal to buy Toshiba Medical Systems Corporation.

If the commission finds what it believes happened in each case did in fact happen, Merck and GE face fines of up to 1 percent of their annual worldwide revenue. As a result Honeywell acquired the technology only after a year-long delay.

The commission says Germany-based Merck and Sigma-Aldrich provided "incorrect or misleading information" to regulators during the notification process. An acquisition made in this way is in breach of EU Merger regulation as Canon Inc. failed to notify the commission before the acquisition took place. The deal was approved in September 2016.

Vestager signaled a zero-tolerance approach to companies that give inaccurate information when she fined Facebook on May 18 for combining WhatsApp data with its other services after having told the merger officials otherwise during the EU's 2014 review.

"We need companies to work with us to ensure fast and predictable merger control, to the benefit of both companies and consumers".

In an emailed statement it said it "will review the information provided by the EC and provide its written response to the EC in due course".

GE said the company "acted in good faith" with "no intent to mislead", according to a statement, adding that it will continue its "constructive cooperation" with the EU.

Facebook Inc was hit with a 110-million-euro ($125 million) fine in May for providing misleading information during the European Union review of its messaging service WhatsApp buy in 2014.


editors' picks