The European Commission’s deadline for third-party observations on Toshiba’s proposed $2.3 billion acquisition of Switzerland-based smart metering company Landis+Gyr, which is headed by Irishman Cameron O’Reilly, has closed.
The commission will now decide by July 11th if the merger should be allowed to proceed or whether its investigation should be extended.
It is not clear if any observations were received by the close of the deadline on June 26th. No comment was available from either the commission or Landis +Gyr.
The deal was notified to the commission on June 1st and it was opened up to third-party observations on June 16th. Established in 1896, Landis+Gyr has more than 8,000 utility customers globally.
The company is privately owned, with Mr O’Reilly and his father, Sir Anthony O’Reilly, believed to own more than 7 per cent of the business.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)