TPG Pulls Bid to Win EU Nod for €6.7 Billion Techem Deal (1)

TPG has pulled its request to get EU antitrust approval to buy German energy metering company Techem GmbH in a deal worth about €6.7 billion.

• The European Commission’s website said Wednesday that a notification to deal watchdogs was withdrawn by the parties, giving no further details
• Techem said in emailed statement that it “takes note of TPG’s withdrawal of its filing for merger control clearance with the European Commission.”
• The firm, based near Frankfurt, said “TPG’s decision does not change Techem’s strategic course” and “regardless of current developments, Techem remains firmly committed to maintain and extend its strong positioning ...