News

Carrefour/ Promodes

Premium 01 October 1999

The proposed merger between French supermarket chains Carrefour and Promodes, valued at 15.6 billion euros, will create the world’s second largest shopping chain.

Dow Chemical/ Union Carbide

Premium 01 October 1999

Dow Chemical Co is to buy long-time rival Union Carbide in a stock deal valued at US$8.89 billion.

Canada: Competition rules suspended as Canada’s airline industry restructures

Premium 01 October 1999

In an unprecedented move, the Canadian Government has issued an Order suspending the application of the Competition Act to enable Canada’s two national carriers to discuss and make proposals regarding the future structure of the industry. Long-awaited changes to the pre-merger notification rules which will double no-close waiting periods are expected to be implemented in October.

UK: Proposed merger control reform on track

Premium 01 October 1999

Implementation of the proposals for merger reform will require primary legislation, so a new regime is some way down the line. According to the timetable outlined in its ‘Implementation Plan’, the Department of Trade and Industry is on schedule so far. The consultation document was published in August and the consultation period is set to run until December 1 1999. If all goes according to plan, responses will be analysed in October and the outcome of the review will be published in May 2000. Progress thereafter will depend very much on the legislative process

RJB Mining state aids case

Premium 01 October 1999

The European Court of First Instance has delivered an ambiguous preliminary ruling in the first of seven cases in which RJB Mining is challenging the European Commission’s decisions regarding state aid to the German and Spanish coal industry. The court rejected both RJB’s and the Commission’s interpretation of the state aid code, and dismissed RJB’s case. RJB is to appeal.

New competition partner at Freshfields' Paris office

Premium 01 September 1999

Freshfields is putting together a new competition group in Paris under the leadership of Jacques-Philippe Gunther, who joined the firm on February 1 from Gide Loyrette Nouel.

Borg-Warner Automotive/Kuhlman

Premium 01 September 1999

Chicago-based car components manufacturer Borg-Warner Automotive has acquired engine manufacturer Kuhlman in a US$680 million transaction completed in March.

Celltech/Chiroscience

Premium 01 September 1999

UK firms Celltech and Chiroscience are to merge in a deal valued at £331 million, creating one of the largest bioscience companies in Europe.

Vivendi/Pathé

Premium 01 September 1999

French group Vivendi is to buy the pay-TV operations of film and television producer Pathé in a deal valued at US$2.5 billion.

New Holland/Case

Premium 01 September 1999

Dutch agricultural equipment company New Holland NV is to merge with Case Corporation of the US to form a US$12 billion global equipment company.