The Competition Authority announced today that it is to investigate two proposed company acquisitions to determine whether the result of the acquisitions would substantially lessen competition in the State.
The Competition Authority decided to carry out full (Phase 2) investigations in relation to the proposed acquisition by Glen Electric Limited, a Northern Ireland based wholly owned subsidiary of Glen Dimplex Group, of Applied Energy Holdings Limited, and the proposed acquisition by Galco Steel Limited of Sperrin Galvanisers (Irl) Limited and Sperrin Galvanisers Limited.
The Authority received notification of the proposed acquisitions last June and conducted preliminary investigations (Phase 1) into the mergers. It was unable to conclude without further investigation that the transactions will not substantially lessen competition.
In the case of the proposed acquisition by Glen Electric Limited the Competition Authority has up until Sunday November 18th 2007 to make a final determination on the transaction. The investigation of the proposed acquisition will examine the effect on competition in the space heating sector in the State.
In the case of the Galco Steel acquisition, the Competition Authority has up until November 17th 2007 to make a final determination on the transaction. The investigation of the proposed acquisition will examine the effects on competition for steel corrosion protection systems.