Lawyers have questioned the necessity of the
European Commission’s (EC) interference in Siemens’
acquisition of Dresser-Rand.
The EU competition authority approved the deal
unconditionally on June 29, more than five months after the
transaction was notified on January 9 2015. Its review included
an in-depth phase 2 investigation into the potential
competition impediment on the turbo compressors and drivers
The companies were two of three major players in
this sector, making this one of the first transactions of its
kind to be approved on such favourable terms.
But deal counsel have queried why Commission took
such a close look at the deal, when the parties’
major activities fall outside the EU.
"The EC was definitely the most detailed review, and that
was somewhat surprising because many of these oil and gas
projects are not in...