EC approves Thomas & Betts & ABB deal

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of the electrical components and connectors manufacturer Thomas & Betts Corporation of the US by ABB Ltd of Switzerland. The Commission's investigation confirmed that the overlaps between the parties' activities are limited and that the merged entity would continue to face competition from a number of other strong competitors. Customers will therefore still have a number of alternative suppliers in the markets concerned. The Commission found that the merged entity's market position will be limited and that it will continue to face a number of significant competitors active at the level of the European Economic Area (EEA) as well as at national level. Furthermore, the Parties' activities are largely complementary as Thomas & Betts' activities focus on North America and the UK where ABB has only a limited presence. The Commission therefore concluded that the transaction would not significantly impede effective competition in the EEA or any substantial part of it. The transaction was notified to the Commission on 30 March 2012.