The takeover deal of Horizon by Avnet has been cleared by the European Commission after concerns raised about the potential anti-competitive nature of the merger were dismissed.The deal was originally penned in April, as reported by PC Retail, but came under the scrutiny of the EC because of the size of the deal.
In a statement to the press, a spokesperson for the EC said: "The Commission concluded that the concentration would not significantly impede effective competition in the European Economic Area or any substantial part of it.
"Even though the merger would create the strongest player in these markets, the Commission's investigation identified a number of elements which led to the conclusion that anti-competitive effects are unlikely to occur.
"A number of other wholesale distributors will exercise competitive constraints on the merged entity, as well as manufacturers of IT products and software producers who sell their products directly to resellers and retailers, thus bypassing the wholesalers."
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