EU regulators give thumbs up to Bridgestone-Bandag deal
BRUSSELS, Belgium — Bridgestone’s landmark acquisition of Bandag last year has been approved by the European Commission.
Bandag, the largest supplier of retread tires in North America, was sold to the tiremaker for just over $1 billion. Bandag will become a wholly-owned subsidiary of Japan-based Bridgestone.
The deal, which was cleared by U.S. antitrust officials in April, gives Bridgestone a major presence in the retread market.
“The Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area,” the EU executive said in a statement.
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