EC clears merger
The European Commission has given the go-ahead for Sagem to acquire aerospace manufacturer Snecma, concluding that the deal "would not significantly impede effective competition in the European Economic Area or any substantial part of it". The commission found that "the combined firm will continue to face several strong, effective competitors with significant market shares", concluding "there would be no risk of any of the markets concerned being closed off, as there are alternative and competing sources of supply". Sagem and Snecma announced the proposed merger at the end of October.
Source: Flight International
