Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: EC approves acquisition of L-3 Communications marine systems business by Wärtsilä, (Apr 15, 2015)
Organizations Mentioned:; L-3 Communications Corporation | L 3 Communications Corp. | Wä | rtsilä
By Linda O’Brien, J.D., LL.M.
The European Commission (EC) has cleared under the European Union (EU) merger regulation the proposed acquisition of the marine systems business of U.S. based supplier of aerospace and defense solutions, L-3 Communications Corporation, by Wärtsilä, a Finnish supplier of marine power sources, the EC announced today. The transaction was examined under the simplified merger review procedure.
L-3 Communications' marine systems business (L-3 MSI) is headquartered in Hamburg, Germany, and delivers automation, navigation and electrical systems, as well as dynamic positioning technology, sonar, and underwater communications technology for the marine, naval, and offshore markets. The activities of Wärtsilä and L-3 MSI overlap in the production and supply of marine automation systems and marine electric propulsion systems, as well as in the provision of repair and maintenance service relating to marine equipment. The Commission concluded that the proposed acquisition would raise no competition concerns because those overlaps are limited.
Companies: Wärtsilä; L-3 Communications Corporation
News: AcquisitionsMergers Antitrust