The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Delphi Steering Business, a US manufacturer of steering products for motor vehicles, by the US car manufacturer General Motors (GM), for whom Delphi Steering Business is a major supplier of vehicle manufacturing activities. The Commission's examination of the transaction showed that for all vehicle components that GM gets from Delphi Steering Business, the merged entity would continue to face several strong, effective competitors with significant market shares. The Commission's investigation also found that the merged entity would not have an incentive to close off competing car manufacturers’ access to Delphi Steering Business products, given that, inter alia, these vehicle components represent a modest fraction of the cost of a car. The Commission therefore concluded that the transaction would not significantly impede effective competition within the European Economic Area or a substantial part of it.
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