( May 29, 2018, 14:23 GMT | Official Statement) -- MLex Summary: The Mexican competition authority has blocked water-heater maker Rheem’s acquisition of Grupo Industrial Saltillo’s water heating assets, including facilities, brands and property licenses, according to a statement. The Federal Competition Commission, or Cofece, said the transaction would result in Rheem being the dominant player in the industry, with significant market share in the market for water heaters and related products. Cofece cited issues related to barriers to entry in the market affected by the deal, and said the parties' commitments to mitigate competition concerns resulting from the transaction weren't sufficient. Rheem is a private company, while GIS is listed on Mexican stock exchange Bolsa Mexicana de Valores.See Cofece release below....
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