In-Depth EU Review of Unilever’s Sara Lee Acquisition
Reports suggest that in order to establish the full impact of the planned acquisition of Sara Lee Corp.'s shower-gel and European detergents business by Unilever, the European Commission has decided to review the deal at length.
It is believed that the European Commission wants to analyze the deal in depth so that the impact of the deal in the markets can be observed and understood.
As per the statement issued by EU, the Brussels-based regulator said that, the 27-nation bloc had set a new deadline of Oct. 5 in order to conduct its antitrust review of the transaction.
Confirming the news, EU Competition Commissioner Joaquin Almunia said, "This merger creates significant overlaps in a number of products used by consumers on an everyday basis. We need to make sure that if there are competition concerns these are duly addressed so that consumers are not harmed".
On the other hand, Rotterdam-based spokeswoman for Unilever, Fleur van Bruggen said that the Company and Commission are working together in order to address the worries of EU.
She further added that the decision of the Commission to conduct an in-depth inquiry does not anticipate the final result of the investigation.
She also said that the in-depth review was a common practice in deals that were of the size and complexity, such as theirs.
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