Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: EC clears financial services, aircraft sector deals, (Oct 19, 2015)

By Greg Hammond, J.D.

The European Commission (EC) has approved Fidelity National Information Services’ proposed acquisition of SunGard, finding that the deal between the two U.S. companies would not raise competition concerns. Fidelity provides banking and payment solutions and SunGard offers software and technology solutions in a number of markets, the EC announced today. In clearing the transaction, the EC determined that there were other strong competitors in the market and the companies’ combined market shares were negligible.

The EC also reported on Friday that it cleared the proposed acquisition of United Technologies Corp.’s business unit—Sikorsky Aircraft—by Lockheed Martin, all of the United States. Sikorsky manufactures military and civil helicopters, and Lockheed Martin is a security and aerospace company. The proposed acquisitions, according to the EC, would not raise competition concerns because there are no overlaps between the companies’ activities. In addition, the EC concluded that Lockheed’s supply of mission systems for military helicopters, which could be used on Sikorsky’s naval medium-lift military helicopters, was not a concern because the parties’ combined position would not shut out competitors or customers.

Also cleared by the EC was: (1) Antofagasta PLC’s (UK) and Barrick Gold Corp.’s (Canada) proposed acquisition of joint control of copper mine operator Compañía Minera Zaldívar SpA (Chile); (2) Parcom Capital Management BV’s and Pon Holding BV’s acquisition of joint control over electrical engineering services provider Imtech Marine Group BV, all of the Netherlands; and (3) PGA Motor’s proposed acquisition of MSA Groupe, both retail distributors of passenger cars and light commercial vehicles in France.

Companies: Fidelity National Information Services; SunGard; United Technologies Corp.; Lockheed Martin; Antofagasta PLC; Barrick Gold Corp.; Compañía Minera Zaldívar SpA; Parcom Capital Management BV; Pon Holding BV; Imtech Marine Group BV; PGA Motor; MSA Groupe

News: AcquisitionsMergers Antitrust