BRUSSELS (Thomson Financial)
The European Commission said the deadline for its inquiry into The Gores Group's proposed acquisition of a 51 percent stake in Siemens AG 's Enterprise Communications (SEN) unit is set for Sept. 19.
Siemens will retain a 49 percent stake, and plans to invest 175 million euros in the venture, compared with a total investment of 350 million euros.
The Gores Group will contribute two assets, Enterasys and SER Solutions to the joint venture, Siemens said previously.
The transaction will be reviewed under the EU's simplified merger review procedure for cases the commission believes do not pose competition concerns.
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