Apple's $3 billion takeover of Beats approved by Europe

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Apple's $3 billion takeover of Beats approved by Europe
The EU commission has approved of Apple’s $3 billion takeover of Beats, as the merger does not threaten competition in the headphones market.

It ruled that the takeover “did not raise concerns because the combined (headphone) market share of Apple and Beats Electronics is low." The headphone market is still full of competitors such as Bose, Sennheiser and Sony, among others. As a result, Apple would not have a monopoly in the headphone market.

The purchase must still clear regulators in the U.S., but many believe that a similar ruling will be decided upon.

Apple announced the takeover of Beats Electronics and Beats Music in May of this year. The deal is worth $2.6 billion in cash and $400 million in stock. As a result, this is the most expensive acquisition in Apple’s history.



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