Random Penguin Merger Passes Scrutiny in Europe
According to their statement, there was little concern that the larger company would dominate the market because “the merged entity will continue to face several strong competitors”. This approval follows the approval of the transaction by the ACCC in Australia, the NZCC in New Zealand, and the U.S. Department of Justice. To the best of my knowledge the only remaining regulatory body to approve the merger is Canada.
When the merger finally goes through the German media conglomerate Bertelsmann will trade their ownership of RH for will own 53% of Random Penguin Solutions, with Pearson owning the remaining 47%. Bertelsmann will have 5 directors on the Random Penguin Solutions board of directors and Pearson will have 4.