EU says allows Japan's Bridgestone to buy Bandag

Newswire

BRUSSELS, May 29 (Reuters) - Bridgestone Corp. , Japan's biggest tyre maker, won permission from the European Commission on Tuesday to buy Bandag Inc. , the largest U.S. supplier of retread tyres, for $1.05 billion in cash. The deal gives Bridgestone, until now only a small player in retreaded tyres, a major presence in the global retread market as cost-conscious trucking firms increasingly turn to companies that offer both retreads and new tyres. "The Commission concluded that the ...

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