Press Release: Mergers: Commission opens in-depth investigation into Siemens’ take-over of VA Tech group

The European Commission on 14 February 2005 opened a detailed investigation under the EU Merger Regulation into the planned acquisition by German technology group Siemens of its Austrian competitor VA Tech, a company with global activities in a range of technology and industry sectors. The Commission's initial market investigation had found that the proposed acquisition potentially created significant competition problems given the two companies' horizontal overlaps and vertical links in markets such as hydro power equipment, electricity transmission & distribution equipment, rail transport equipment metallurgical plant building, infrastructure and building technology. Siemens had launched a public take-over bid for VA Tech, which was listed on the Vienna stock exchange.

• Primary Source

VA Tech: Press release, 10.2.04 http://www.vatech.at/view.php3?f_id=14655&LNG=EN

Siemens: Press release, 8.11.04 http://www.siemens.com/index.jsp?sdc_p=cfi1034531lmno1225850ps4uz3&sdc_sid=22801955633&sdc_bcpath=1034555.s_4%2C&

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