EU Regulators To Decide On Apple’s Beats Acquisition
Apple announced its Beats acquisition for $3 Billion last month. The first step in the process of acquisition is getting the regulatory approval from various governing bodies where the companies conduct business. As per Reuters report, European Union’s Antitrust Commission is expected to make a decision on Apple’s $3 Billion deal to buy Beats by July 30.
According to the report,
The Commission can either clear the deal unconditionally or demand concessions if it sees competition issues. It can also open an extensive investigation if it has deeper concerns.
Apple plans to acquire both Beats Music that offers music streaming subscription service and Beats Electronics which makes headphones and speakers. With this deal Apple wants to get into music streaming business. Beats co-founders Jimmy Iovine and Dr. Dre will join the Apple team post acquisition.