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Danfoss, Eaton deal must divest Jiangsu orbital-motor business to proceed, China's SAMR says

By Yonnex Li ( June 8, 2021, 06:34 GMT | Insight) -- Danfoss will own more than half of China's market for orbital motors after taking over Eaton's hydraulics business, China's antitrust regulator has found, prompting the authority to require the Danish buyer to divest local assets in exchange for a regulatory go-ahead for the $3.3 billion acquisition. To mitigate antitrust concerns, SAMR ordered Danfoss to divest the orbital-motor business of its unit in China's eastern Jiangsu province, in a ruling dated June 4 but published only yesterday.Danfoss will own more than half of China's market for orbital motors after taking over Eaton's hydraulics business, China's antitrust regulator has found, prompting the authority to require the Danish buyer to divest local assets in exchange for a regulatory go-ahead for the $3.3 billion acquisition....

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