Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: EC clears acquisition of First Eagle by Blackstone and Corsair Capital, (Oct 13, 2015)

By Edward L. Puzzo, J.D.

The European Commission (EC) has approved under the European Union (EU) Merger Regulation the acquisition of joint control over First Eagle Investment Management LLC by Blackstone Group LP and Corsair Capital LLC, all of the United States, it was announced on October 13. Blackstone is a global alternative asset manager and provider of financial advisory services. Corsair Capital is a private equity firm, focusing on investing in companies in the financial services sector worldwide. First Eagle is an investment management firm active in the US. The Commission concluded that the proposed acquisition would raise no competition concerns, since First Eagle has no assets and no revenues in the European Economic Area (EEA).

Veritas acquisition by The Carlyle Group. Separately, the EC has approved under the EU Merger Regulation the acquisition of Veritas, the information management business of Symantec Corporation, by The Carlyle Group LP, all of the United States. Carlyle is a global investment firm. Veritas produces storage software. The Commission concluded that the proposed acquisition would raise no competition concerns, because the companies' are not present in the same markets.

Companies: First Eagle Investment Management LLC; Blackstone Group LP; Corsair Capital LLC; Veritas; Symantec Corporation; The Carlyle Group LP

News: AcquisitionsMergers Antitrust