The European Commission has listed the planned purchase of Chrysler by private equity firm Cerberus from DaimlerChrysler as “a candidate for simplified procedure”.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Noting that, in the past, Americans had criticised the commission for making it difficult for Boeing to buy McDonnell Douglas and impossible for General Electric to buy Honeywell International, Reuters said that, as long as no one complains, the Chrysler deal will be cleared by 3 July, bypassing the stringent normal procedure or the truly difficult second-stage procedure, which can add an additional 105 working days and involve a hearing.
“It is often the case that a deal is simplified where the two parties are active in totally different markets and there is no overlap between their activities”, commission spokesman Jonathan Todd told the news agency.
