Financial services merger okayed
Tuesday 03 July 2012
The European Commission cleared, on 3 July, the acquisition of Talaris Topco of the UK by Glory of Japan. Both companies develop and produce cash handling machines. Cash handling products include teller cash recyclers (TCRs), coin and banknote sorters and counters. The Commission's investigation confirmed that the merged entity would continue to face several strong competitors in each of the various types of cash handling products that it sells. As a result, the customers of these products, which are primarily large and sophisticated financial institutions, would continue to have a sufficient number of suppliers from which to choose in their procurement processes.