Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: EC approves acquisition of GCA by Thomas H. Lee, Goldman Sachs, (Jan 6, 2016)
Organizations Mentioned:Berkshire Hathaway | Berkshire Hathaway Inc. | Berkshire Hathaway, Inc. | GCA Services Group, Inc. | Precision Castparts Corp. | Precision Castparts Corporation | The Goldman Sachs Group, Inc. | Thomas H. Lee Partners, L.P. | Thomas H. Lee Partners, LP
By Linda O’Brien, J.D., LL.M.
The European Commission (EC) has cleared under the European Union (EU) merger regulation the acquisition of GCA Services Group, Inc. by Thomas H. Lee Partners, L.P. (THL) and The Goldman Sachs Group, Inc., all of the United States, the EC announced today.
THL is investing in growth-oriented global businesses. Goldman Sachs offers a range of banking, securities, and investment services worldwide. GCA provides a wide range of facility services, such as janitorial and custodial services as well as labor management. The Commission concluded that the proposed acquisition would raise no competition concerns because GCA is not active in the European Economic Area (EEA).
Precision Castparts-Berkshire Hathaway merger. The EC also has cleared under the EU merger regulation the acquisition of Precision Castparts Corporation by Berkshire Hathaway Inc., both of the United States. Berkshire Hathaway is a holding company, with subsidiaries engaged in a number of diverse business activities. Precision Castparts is a manufacturer of complex metal components and products. The Commission concluded that the proposed acquisition would not raise competition concerns, given the absence of horizontal overlaps and the limited vertical relationships between the activities of the two companies.
Companies: GCA Services Group, Inc.; Thomas H. Lee Partners, L.P.; The Goldman Sachs Group, Inc.; Precision Castparts Corporation; Berkshire Hathaway Inc.
News: AcquisitionsMergers Antitrust