GE Gets EU Nod to Buy Dresser
Thursday, January 06, 2011
The European Commission (EC) approved on Tuesday US
industrial conglomerate General Electric's (GE) proposed acquisition of
Texas-based energy infrastructure company Dresser for $3 billion.
According to the EU regulatory body, the deal would not
significantly impede effective competition in the European Economic Area, given
the limited horizontal overlaps between the mutual activities.
The deal is aimed at expanding General Electric's $40 billion
energy technology portfolio. More…