European Union regulators resumed their investigation of a $7.6 billion merger where Siemens’ (NYSE: SI) would acquire Dresser-Rand Group (NYSE: DRC). The European Commission delayed the investigation mid-March, while waiting for additional information from Siemens.
Siemens previously said it was on track to close the deal no later than the summer despite the delay, according to Reuters. Siemens plans to operate Dresser-Rand as its oil and gas business , while retaining the Dresser-Rand name and its executive leadership team.
The Commission is concerned that the merger will reduce competition, to the point where Siemens would only have to compete against General Electric (NYSE: GE).
Regulators said they will decide whether or not to clear the deal by July 24.
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