merger – Page 5 – Antitrust Intelligence

Is Worldline-Ingenico the Last FinTech Deal To Get An Easy Pass?

September 19, 2020September 19, 2020Editorial

Worldline nears closing a deal to acquire rival Ingenico as the remedies submitted during a phase I merger investigation are likely to be accepted by EU regulators. Yet, this deal, together with the recent Mastercard-Nets, suggest that the days when a FinTech deal was barely scrutinized by regulators and quickly approved may be gone. More consolidation in the market is expected as companies seek to offer omnichannel payment solutions but from now on, antitrust approvals may cost dearly.

5 Things You Should Look at: Sept. 14-21

September 14, 2020September 14, 2020Editorial

Don’t miss anything with our weekly update on the main antitrust events for the week ahead.

China’s SAMR Tightens Its Grip on M&A Notification, May Close VIE Gap

September 11, 2020September 11, 2020Grace Gao

Variable Interest Entity (VIE) is a grey area in China. In the early days, VIE was a convenient alternative for Chinese internet companies to raise money overseas, due to certain obstacles in the domestic market and for foreign companies to invest in China without going through a merger review process. However this may change after the Mingcha Zhegang/Huansheng Information decision. While companies may still use a VIE for investment purposes, these operations may have to be notified in China.

LSE Likely Needs More Divestitures To Close Refinitiv Deal

September 2, 2020September 2, 2020Editorial

LSE is accepting bids for Borsa Italiana or for its bond trading platform, MTS, in an attempt to ease the EU merger review. While this divestiture is likely to bring the approval closer, it may still fall short to allay additional concerns on the market for derivatives and access to financial data.

UK’s CMA Clears $5 Billion Visa-Plaid, Lures Companies Into FinTech M&A

August 24, 2020August 26, 2020Editorial

Visa’s $5 billion acquisition of Plaid was unconditionally cleared by the U.K.’s CMA on August 24. It contrasts with the EU conditional approval obtained by Mastercard in its acquisition of Nets on August 17. The analysis conducted by the U.K. regulator left a door wide open for companies like American Express, PayPal and TrueLayer to continue the consolidation in the customer-to-business (C2B) payment sector.

Thyssenkrupp-Kone’s Elevator Tieup May Stay in Ground Floor

May 24, 2019May 24, 2019Editorial

(Premium)- After a failed JV with Tata, Thyssenkrupp is now trying to sell its elevator unit to Kone. Yet, this deal would likely face significant antitrust scrutiny in Europe and an approval may come at a very high price for both companies.

5 Things You Should Know About the ICN 2019

May 13, 2019August 25, 2020Editorial

After three days of debates and discussions in Cartagena, it is clear that the priority for antitrust authorities is how to apply competition law in digital markets. Non-horizontal mergers, remedies in unilateral conducts and ex-officio cartel probes were also some of the relevant topics of this year’s ICN.

$33 Billion IBM-Red Hat M&A Shouldn’t Spark Antitrust Concerns

May 7, 2019May 24, 2019Editorial

(Premium) – IBM’s $33 billion Red Hat acquisition will likely be cleared by EU and US regulators, which could green light the deal in 1H19. Precedents of mergers involving infrastructure software and DevOps tools are favourable to the companies and the deal may get an unconditional nod.

FIS-Worldpay $34 Billion Deal Nears Closing as FTC Grants Approval

May 6, 2019September 24, 2020Editorial

(Premium) – Fidelity National Information Services (FIS) and Worldpay are closer to get all the necesary approvals for their $34 billion deal after the FTC cleared the operation in April 26. This mega merger isn’t likely to raise antitrust concerns and it may trigger more FinTech/payment M&A in 2019.

Thyssenkrupp-Tata Likely Needs to Beef Up Remedy Plan to Get EU Approval

May 3, 2019May 12, 2019Editorial

(Premium) – Thyssenkrupp and Tata will likely need to beef up their remedy package to win EU antitrust approval by June 17. Yet, additional divestitures may affect the rationale of the deal.