EU’s Vestager: has ‘killer’ merger deals in sight, may use court-endorsed power
BRUSSELS — EU antitrust chief Margrethe Vestager on Friday said she has a few merger deals in sight where she may use powers endorsed this week by Europe’s second-top court which allow her to scrutinize so-called ‘killer’ acquisitions.
The Luxembourg-based General Court on Wednesday backed the European Commission’s Article 22 power to examine deals where companies do not have any activities or revenue in the 27-country European Union in a case involving Illumina and Grail.
“We have a few acquisitions within our sights that may be relevant candidates for Article 22. But that is not a given,” Vestager told a news conference, without providing details.
Killer acquisitions typically refer to big companies acquiring rival start-ups to close them down. (Reporting by Foo Yun Chee; Editing by Sudip Kar-Gupta)