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Italian Manufacturer Cogne Acciai Speciali to Acquire German Tube Producer Mannesmann Stainless Tubes GmbH

The European Commission (EC) has announced that Italian long stainless steel manufacturer Cogne Acciai Speciali is planning to take over the entire German tube manufacturer Mannesmann Stainless Tubes GmbH.

Potential EC Merger Regulation Implications

This transaction might fall under the EC Merger Regulation, prompting the Commission to initiate a simplified procedure in advance of the possible merger. The Commission will make a final decision on this classification and has invited third parties to submit their observations within 10 days.

Expectations of the EC Review Process

The article suggests that the EC review may be more procedural than substantive. There is an implication that genuine cartel protection would have necessitated earlier and different interventions by the relevant authorities. Consequently, it is anticipated that the EC will approve this merger without significant scrutiny.

Next Steps for Third Parties

Interested third parties have a 10-day window to provide feedback or concerns regarding this merger to the EC. This period is crucial for stakeholders to voice any objections or observations they may have about the potential market impact of this acquisition.

Full story on steelnews.biz