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)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.