Reaction to Siemens/Alstom

Acquisitions Daily

"On 6 February 2019, the European Commission delivered its long-anticipated ruling on the proposed merger of Siemens and Alstom by prohibiting the transaction. While this was a notable event for competition lawyers – after all, there has been a prohibition decision in only 30 of the more than 7,000 deals that have been reviewed by the Commission since the start of the current regime – it was not particularly surprising. According to the Commission, the deal would have combined the two leading European providers of certain types of rail signalling and high speeds trains, creating a dominant position in the latter case. Although the parties claimed that the merger was necessary to counter the emerging threat from Chinese competition, Commission officials have noted that Chinese competitors have not tendered for a single European signalling contract or sold a single high speed train in Europe."

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Becket McGrath Partner, London
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