BRUSSELS (Thomson Financial) - The European Commission said it has cleared
German electronics and engineering giant Siemens AG's proposed 7 bln usd
acquisition of diagnostic products maker Dade Behring Holdings Inc.
The commission said the transaction would not significantly impede effective
competition in the European Economic Area.
The planned merger would create one of the leading groups in both European
and global markets for immuno-chemistry. However, the commission's market
investigation revealed that the horizontal overlaps between the activities of
Siemens and Dade Behring would not allow them to increase prices for
laboratories and consumers.
"Customers and competitors identified a large number of alternative
immuno-chemistry test firms in a position to replace Siemens and Dade Behring in
case of price increases," the EU executive said in a statement.
"Strong competition from several reputable players with significant market
shares would continue to characterise these markets."
simon.zekaria@thomson.com
sz/sal
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