EU authorities accuse GE, Merck and Canon of merger violations
by The Associated Press
The European Commission suspects the three manufacturers skirted EU rules to force through major acquisitions; it will stop short of seeking to unravel the mergers, but is threatening hefty fines
The European Commissions says it suspects GE failed to provide full information about its wind products ahead of its $1.6 billion acquisition of Danish energy company LM Wind earlier this year. PHOTO: GE
BRUSSELS—EU authorities are accusing General Electric, drugmaker Merck and electronics manufacturer Canon of violating European rules to push through mergers or acquisitions.
The EU Commission announced July 6 it has filed complaints in all three cases. The Commission is not seeking to annul the mergers, but threatening hefty fines if further investigation confirms wrongdoing.
Based on preliminary investigation, the Commission says it suspects GE failed to provide full information about its wind products ahead of its $1.6 billion acquisition of Danish energy company LM Wind earlier this year.
Germany-based Merck is suspected of providing incorrect or misleading information ahead of a 2015 takeover of Sigma-Aldrich.
Japan-based Canon is suspected of acquiring Toshiba’s medical services last year before seeking EU approval.
