Increase in number of merger deals

THE number of merger transactions notified to the Competition Authority in 2004 rose to 81 from 47 the previous year, according to a study by law firm McCann FitzGerald.

All but three of the deals were approved in the first phase of the review process. The proposed merger of the business recovery services arms of IBM and Schlumberger was the only deal thrown out, while Grafton’s takeover of rival DIY firm Heiton and the UniPhar takeover of the Whelehan Group were cleared after a phase-two investigation.