The Competition Commission of India (CCI) on Tuesday granted its approval for American company Cummin‘s acquisition of Meritor. Meritor is a global supplier of axles, brakes, and other modules and components to Original Equipment Manufacturers (OEMs).
In a tweet on Tuesday, CCI said it has approved “acquisition of sole control of Meritor by Cummins”.
In February last year, Cummins signed definitive agreements to acquire Meritor.
Cummins is a global power leader that designs, manufactures, distributes engines, filtration, and power generation products. Both Meritor and Cummins have business operations in India.
Deals beyond a certain threshold have to be approved by CCI, which keeps a tab on unfair business practices.
