Word: antitrust
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...jilted American suitor. Chris Bright, one of GE's lawyers in Brussels, says the Commission sent United Technologies away "to find the mud, and in the end, unfairly, the mud stuck." One more lesson: the slow confirmation process in Washington has a cost. Had James been confirmed as antitrust chief at the Justice Department by March, say, regulators on both sides of the Atlantic would have been able to discuss the merger at a high level--and maybe come to common conclusions. As it is, Treasury Secretary Paul O'Neill has described the Commission's action as "off the wall...
...behavior of chipmaker Intel, at the behest of one competitor from the U.S. and one from Taiwan. U.S. regulators will review Switzerland-based Nestle's purchase of Ralston Purina, which would consolidate more than 50% of the $3 billion U.S. cat-food market. For now, the only antitrust authorities that really matter are in Brussels and Washington. But as other nations develop their economies, that may not always be the case. Activists in South Africa, for example, have forced American and European pharmaceutical companies to reverse their policies on the patent protection of drugs...
Mario Monti, the European Commission's chief antitrust enforcer, spoke last week in his Brussels office with TIME bureau chief James Graff...
...Like other antitrust agencies, we make our assessment of a merger or antitrust case based on its impact on our jurisdiction and not on the nationality of the companies. This is exactly what the U.S. antitrust agencies do. There was a case last year where the merger between two E.U. companies [France's Air Liquide and Britain's BOC Group] was approved here and blocked...
...What advice would you give Bill Gates or other CEOs with antitrust problems in Europe...