Bundeskartellamt approves Ohmnia Electronics takeover bid for Azkoyen

The German competition authority, Bundeskartellamt, has approved the unconditional takeover bid by Ohmnia Electronics for Azkoyen. The regulator determined that the acquisition does not meet the legal criteria for prohibition under applicable competition laws.

Because a significant portion of Azkoyen's business is conducted in Germany, the transaction required clearance from German authorities to ensure it would not create a dominant market position or distort competition.

The takeover bid, valued at 244 million euros at 10 euros per share, remains subject to authorization from Spain's National Commission on Markets and Competition (CNMC). The Spanish National Securities Market Commission (CNMV) has already admitted the takeover request for processing.