European Commission president Jean-Claude Juncker today confirmed his plans for a new framework to “screen” foreign takeovers of EU companies.
The commission is expected to set out more details on the foreign deal crackdown in Brussels tomorrow. Chinese takeover activity in particular has caused a stir in Europe, with China-to-EU mergers and acquisitions (M&A) reaching record levels last year.
“Europe must always defend its strategic interests,” Juncker said in his State of the Union speech this morning.
“This is why today we are proposing a new EU framework for investment screening.
“If a foreign, state-owned, company wants to purchase a European harbor, part of our energy infrastructure or a defence technology firm, this should only happen in transparency, with scrutiny and debate.
“It is a political responsibility to know what is going on in our own backyard so that we can protect our collective security if needed.”
Figures from Thomson Reuters released September 13 show foreign takeovers within the European Union have declined for the third year in a row in 2017.
Inbound M&A has totalled US$164 billion so far this year, down four per cent compared with this time last year. The UK, whose government is also considering plans for a crackdown on foreign takeovers, has been the most attractive EU destination for foreign investment, accounting for US$65 billion, or 40% of the total.
Full Content: Europa & Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Massachusetts AG Sues Insulin Makers and PBMs Over Alleged Price-Fixing Scheme
Jan 14, 2025 by
CPI
Apple and Amazon Avoid Mass Lawsuit in UK Over Alleged Collusion
Jan 14, 2025 by
CPI
Top Agent Network Drops Antitrust Suit Against National Association of Realtors
Jan 14, 2025 by
CPI
Weil, Gotshal & Manges Strengthens Antitrust Practice with New Partner
Jan 14, 2025 by
CPI
Russian Court Imposes Hefty Fine on Google for Non-Compliance with Content Removal Orders
Jan 14, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – CRESSE Insights
Dec 19, 2024 by
CPI
Effective Interoperability in Mobile Ecosystems: EU Competition Law Versus Regulation
Dec 19, 2024 by
Giuseppe Colangelo
The Use of Empirical Evidence in Antitrust: Trends, Challenges, and a Path Forward
Dec 19, 2024 by
Eliana Garces
Some Empirical Evidence on the Role of Presumptions and Evidentiary Standards on Antitrust (Under)Enforcement: Is the EC’s New Communication on Art.102 in the Right Direction?
Dec 19, 2024 by
Yannis Katsoulacos
The EC’s Draft Guidelines on the Application of Article 102 TFEU: An Economic Perspective
Dec 19, 2024 by
Benoit Durand