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Japan's Hitachi Rail says acquisition of Thales' transport systems to be delayed by ongoing reviews

( December 12, 2022, 03:07 GMT | Official Statement) -- MLex Summary: Hitachi Rail’s planned acquisition of ground transportation systems business from French company Thales will be delayed from the original target of early 2023 to the second half of 2023, said Hitachi Ltd. on Friday. The transaction has won antitrust clearances in nine out of 13 required jurisdictions, said the Japanese industrial conglomerate, without naming where. The UK competition authority announced on Friday its intention to open an in-depth review, and the EU is also continuing its review, said the statement. Hitachi Rail will work with Thales and regulators to ensure a successful closure as soon as possible, because Hitachi Rail and Thales strongly believe the deal is pro-competitive, the statement said. The UK Competition and Markets Authority said earlier on Friday that the companies have five working days to offer concessions to address its concerns.A statement is attached....

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