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Europe's second-highest court, The Court of First Instance, has overturned the European Commission's (EC) decision that was handed down a year ago to block Tetra Laval's $1.6bn takeover bid of French blowmolding machinery supplier Sidel.
The move clears the way for Tetra Laval to re-submit its bid to acquire Sidel. This is reported to be only the second time a ruling by the EC has been overturned.
The decision comes at a time when the European Union (EU) competition regulators, including commissioner Mario Monti, are coming under scrutiny for past vetoes on mergers. The role of the Luxembourg-based Court of First Instance is said to be emerging as a check on …