U.S. auto interiors maker Johnson Controls Inc (JCI.N) secured EU clearance on Friday to acquire the German automotive operations of Keiper Recaro Group. The companies did not disclose financial terms when they unveiled the deal in December last year. The European Commission, the EU competition watchdog, said the merged group would still face competition from other suppliers. "Whilst the parties would have high combined market shares in a number of car seat mechanisms such as recliners and height and tilt adjusters, the Commission's investigation in particular showed that they will continue to face competition from other suppliers," it said in a statement.
Johnson Controls, Inc. (Johnson Controls) provides automotive interiors. Shares of JCI remained unchanged at $36.28. In the past year, the shares have traded as low as $26.07 and as high as $42.53. On average, 4621940 shares of JCI exchange hands on a given day and today's volume is recorded at 0.
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