The following has been reported in the newspapers referred to below: 

  • German-based energy company E.On AG has stated that it will raise its stake in its Swedish unit E.On Sverige to nearly 100% by taking over the 44.6% stake, worth €4.4bn, currently owned by Norwegian-based electricity company Statkraft. Statkraft is expected to receive a stake of more than 2% in E.On, as well as power-generation and gas assets held by E.On in Sweden, Germany, Poland and UK (WSJE, October 15, 2007, p. 8) 
  • US-based aggregates and industrial minerals company Oglebay Norton Co. has agreed to be acquired by Belgian-based maker of lime and limestone products Carmeuse SA for US$520m (WSJE, October 15, 2007, p. 4) 
  • UK-based mining company Celtic Resources Holdings PLC has instructed its shareholders to reject a takeover bid from Russian steel-maker OAO Severstal valuing the company at about £161m (WSJE, October 15, 2007, p. 8) 
  • The following concentration has been notified to the European Commission: 
    • Dell/ASAP (provision of IT products and services involving primarily the sale and distribution of software licenses for third party publishers) (OJ C 241, 13 October 2007, p. 9) 
  • The following concentration has been cleared by the European Commission: 
    • Nissan Forklift/Atlet (warehouse equipment) (RAPID, October 15, 2007)

State Aid 

  • Authorization for State aid pursuant to Articles 87 and 88 of the EC Treaty — Cases where the Commission raises no objections (OJ C 241, 13 October 2007, p. 1) 
    • Slovakia, Denmark – Recreational, cultural sporting activities, media
    • Germany – Research and development, innovation 
    • France – Transport


  • The Markets in Financial Instruments Directive (Mifid) will take effect at the end of October 2007, and is set to bring significant changes to financial services across the EU as it aims to establish a single market and generate cross-border competition (FT, October 15, 2007, p. 16)