EU suspends antitrust probe into IBM takeover bid
The European Commission suspended on Tuesday its antitrust probe into IBM’s takeover bid for Swedish software company Telelogic due to lack of information.
The European Union’s antitrust competitor said the in-depth investigation has been suspended since it needs more information from the two companies, and the probe will restart until the required material is provided. Earlier in October, the commission opened an in-depth antitrust investigation into the merger between IBM and Telelogic, based on the preliminary market findings that the proposed deal would raise serious doubts as to its effect on competition in the market for software development tools. The commission had previously said it would decide whether to approve the deal before Feb. 20, 2008, but no new date was given after the suspension. IBM announced in June to buy Telelogic for about €550 million. (people.com.cn)
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