QUICK LINKS: Vending Videos  |  Micromarkets  |

VT Classifieds

|

Buy a Classified Ad

|

Editorial Calendars

|

Circulation Data

|

Downloads

|

Bookstore

|

Operators Date Book

Search:      

Bookmark this site




Issue Date: Vol. 53, No. 7, July 2013, Posted On: 7/3/2013


To Address Antitrust Concerns, The European Commission Extends Review Period For Crane Co.'s Acquisition Of MEI Conlux To July 19


Nick Montano
Nick@vendingtimes.net
TAGS: vending machine industry, payment systems, cashless vending, Crane Co., MEI Conlux, Crane MEI acquisition, Crane Merchandising Systems, European Commission , MEI acquisition, antitrust concern

STAMFORD, CT -- Crane Co. said this week that the European Commission has extended its initial review period to rule on Crane's planned acquisition of MEI Conlux from July 5 to July 19.

Crane said the commission is focused on two product lines in the European market, so it is engaged in discussions with the EU's executive body regarding potential remedies that would affect less than 10% of the aggregate sales of the combined businesses. Crane said it remains hopeful that all antitrust concerns will be "favorably resolved in the initial review period."

Crane Co. also stated that the staff of the U.S. Federal Trade Commission has not indicated any significant concerns with the proposed transaction, which was announced late last year. It anticipates that the FTC will clear the transaction under the Hart-Scott-Rodino Act in the near future. Additionally, Crane said that the Ukraine competition authority has approved the transaction.

On Dec. 21, Crane Co., parent of Crane Merchandising Systems, said it had signed an agreement to purchase 100% equity interest in payment systems giant MEI from Bain Capital and Advantage Partners for approximately $820 million on a cash- and debt-free basis. | SEE STORY


Topic: Vending Features

Articles:
  • Confectionery Companies Step Up In Fight Against Ebola
  • Mayor De Blasio Revisits NYC Soda Ban
  • Aramark To Pilot Mobile Payment Technology At Sports Venues
  • Crime Is A Drag For NC Vending Machine Thieves
  • Apple Pay Goes Live On Monday, Oct. 20

Copyright © 2014 Vending Times Inc. All rights reserved. 
P: (516) 442-1850 | F: (516) 442-1849 | subscriptions@vendingtimes.net
55 Maple Ave. - Ste. 304, Rockville Centre, NY 11570