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EU: regulators to probe deeper into Siemens, Dresser-Rand deal

By  |  February 17, 2015

European Union antitrust regulators are to probe deeper into Siemens’ bid for US oilfield equipment maker Dresser-Rand Group on concerns that the $7.6 billion deal may reduce competition.

The Commission said on Tuesday that the merged company would compete only with General Electric in turbo compressors and drivers for trains.

“The transaction would reduce the number of competitors from three main players to two main players in all of these markets. This may lead to less product variety and ultimately higher prices,” the EU executive said in a statement.

The Commission set a June 30 deadline for its decision. Siemens may have to offer concessions to secure approval if it fails to convince the watchdog that its concerns are not significant.

Full Content: Zawya

 

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