Report: European regulators eye timing of Canon deal

2017 07 07 10 47 37 369 Canon Ecr 2017 20170707174811

Reuters is reporting that Canon's acquisition of Toshiba Medical in 2016 is among several recent corporate mergers and acquisitions that are being reviewed by European regulators for possible violations of antitrust rules in the European Union (EU).

In a story published on 6 July, Reuters reported the European Commission had sent a communication called a "statement of objection" to Canon, as well as to GE and Merck KGaA, for possible violations of EU merger rules. GE's letter was related to its purchase of Danish rotor blade manufacturer LM Wind earlier this year, while Merck KGaA's letter involved its 2015 acquisition of Sigma-Aldrich.

The Reuters story reported the EU believed Canon "jumped the gun via a two-step warehousing move" to buy Toshiba Medical before getting final regulatory approvals. Regulators approved the deal in September 2016, and Canon finalized the acquisition that December.

The article said the three companies were in the process of responding to the EU's letters.

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