Times have changed. Now China's Ministry of Commerce have begun to rule on Mergers & Acquisitions between Non-Chinese companies, Pfizer-Wyeth and GM-Delphi. Even if you are non-Chinese and are contemplating merging with another non-Chinese company, you better go seek Chinese antitrust approval, as you would with similar authorities in the US and EU.
China sets tough terms on foreign M&A deals
By Sundeep Tucker in Hong Kong
Published: September 30 2009 18:02 | Last updated: September 30 2009 18:02
Chinese antitrust authorities showed further willingness to use new powers to probe global deals by imposing tough conditions in clearing two high-profile mergers and acquisitions.
Mofcom, the country's commerce ministry, on Tuesday night published competition rulings relating to General Motors' acquisition of some units ofDelphi, the bankrupt car parts maker, and Pfizer's take-over of Wyeth, apharmaceuticals rival.
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