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Essilor/Luxottica Merger Clears Another Hurdle

Essilor and Luxottica today announced the proposed combination of the two companies has been cleared by the Canadian Competition Bureau. Canada is one of the five jurisdictions where antitrust approvals are a condition precedent to the closing of the transaction.

The transaction has been cleared so far in 10 other jurisdictions: Australia, Colombia, India, Japan, Morocco, New Zealand, Russia, South Africa, South Korea, and Taiwan. 

As reported earlier by EB, the merger—which both companies say they hope is finalized at the end of 2017 or beginning of 2018—is still undergoing an antitrust investigation process by the European Union.