In February 2017, the European Commission unconditionally approved the €836 million acquisition by NKT of ABB’s high-voltage cable and power cable accessories business after a Phase I investigation. The European Commission focused their attention on the competitive effects of removing one competitor, and whether the transaction would make it more likely that the remaining players could coordinate their competitive behavior. In particular, the European Commission was concerned that the transaction would reduce competition in bids for AC submarine power cable tenders. Compass Lexecon submitted analyses of bidding data, showing, among other things that the Parties catered to different segments of the market and therefore did not often bid directly against each other. A Compass Lexecon team including Enrique Andreu, Miguel de la Mano, Manuel Mertel Morillo, Catalina Campillo and Scott Holbrook supported NKT during the merger control process. Compass Lexecon worked with Jonas Koponen and Sibel Yilmaz of Linklaters LLP and Ingrid Vandenborre and Stanislas de Villoutreys of Skadden, Arps, Slate, Meagher & Flom LLP.
- Antitrust & Competition: Mergers
- Enrique Andreu
- Catalina Campillo
- Scott Holbrook