Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: EC approves diabetes joint venture between Google’s sister company and Sanofi subsidiary, (Feb 24, 2016)

By Edward L. Puzzo, J.D.

The European Commission (EC) has approved under the European Union (EU) Merger Regulation the creation of a joint venture between Aventis Inc., a subsidiary of Sanofi S.A. of France, and Verily Life Sciences LLC, a subsidiary of Alphabet Inc. of the United States, the holding company of Google Inc., it was announced today.

Sanofi is a global pharmaceutical group and offers a range of solutions for the treatment of diabetes. Verily Life Sciences is active in life sciences. The joint venture will offer services for the management and treatment of diabetes. In addition, the joint venture may commercialize certain products, such as specialized continuous glucose monitoring devices, insulin pumps and insulin. The Commission concluded that the proposed transaction would raise no competition concerns, since the joint venture's products are not yet commercialized and a number of competitors would remain active in the market after the transaction.

Blount International acquisition by American Securities. Separately, the EC has approved under the EU Merger Regulation the acquisition of Blount International by American Securities, both of the United States. American Securities is a private equity investment firm that controls portfolio companies active in a variety of economic sectors. Blount International designs, manufactures, and markets a wide range of outdoor equipment and related replacement and component parts, and accessories, for professionals and consumers. The Commission concluded that the proposed acquisition would raise no competition concerns because the companies' activities do not overlap and they are not active on related markets.

Stork acquisition by Fluor. Finally, the EC has approved under the EU Merger Regulation the acquisition of Stork Holding B.V. and Stork Technical Services Group B.V. (together "Stork") of The Netherlands by Fluor Corporation of the United States. Fluor provides engineering, procurement, construction (so called "EPC"), maintenance and project management services. Stork is active in maintenance, modification, and asset integrity services for existing production facilities. The Commission concluded that the proposed transaction would raise no competition concerns because the overlaps between the companies' activities resulting from the acquisition are limited. The operation was assessed under the simplified merger procedure.

Companies: Aventis Inc.; Sanofi S.A.; Verily Life Sciences LLC; Alphabet Inc.; Google Inc.; Blount International; American Securities; Stork Holding B.V.; Stork Technical Services Group B.V.; Fluor Corporation

News: AcquisitionsMergers Antitrust