On Friday, two sources familiar with the matter at hand have disclosed, EssilorLuxottica’s $8 billion (7.2 billion euro) bid to acquire Dutch GrandVision will face a full-scale EU antitrust investigation, following the latter declining to offer concessions during an initial review.
According to the European Commission’s website, EssilorLuxottica gave up its chance to offer concessions yesterday, the deadline for doing so.
The European Commission declined to comment.
Neither EssilorLuxottica nor GrandVision were immediately available for comment.
Sources reveal, rival lens makers and retailers had expressed concerns to the European Commission over the deal.
EssilorLuxottica had countered pointing out that specialist and independent lens makers have a growing market clout.
If the deal goes through, EssilorLuxottica will gain GrandVision’s more than 7,000 outlets across the world where it already sells eyeware brands including Ray-Ban sunglasses and Varilux lenses.