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Investing.com -- European Union antitrust regulators have temporarily suspended their investigation into Mars’ $36 billion acquisition of Kellanova (NYSE:K), the maker of Pringles, as they await additional information from both companies.
The European Commission, which serves as the competition watchdog for the 27-member bloc, announced the pause on Tuesday. The investigation clock has been stopped because the companies failed to provide requested data within the prescribed deadline.
"The ’clock’ in merger investigations can be suspended if the parties fail to provide, in a timely fashion, an important piece of information that the Commission has requested from them within a prescribed deadline," the Commission explained in an email statement.
The EU regulatory body had launched a full-scale investigation into the deal last month, expressing concerns that the acquisition could lead to price increases for consumers.
The investigation will resume once Mars and Kellanova submit the requested information, at which point a new decision deadline will be established. The previous deadline for the regulatory decision was set for October 31.
This European regulatory scrutiny comes after the U.S. Federal Trade Commission granted unconditional approval for the deal last month.
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