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Mergers: Commission prohibits acquisition of control of Legrand by Schneider Electric

( October 10, 2001, 15:32 GMT | Official Statement) -- ****************************************Following a detailed investigation, the Commission has decided to prohibit the merger of Schneider Electric and Legrand, the two main French manufacturers of electrical equipment. The merger would have considerably weakened the operation of the market in a number of countries, particularly in France, where the rivalry between the two companies has hitherto been the mainstay of competition. Despite the scale and seriousness of the problems posed by the merger, Schneider Electric did not put forward in good time adequate undertakings to ensure that, following the merger, the conditions of effective competition would be restored, to the benefit of consumers in France and in other countries....

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