Goudsmit Magnetics acquires Lenoir-MEC.

The people side in France

• A French target with 50 or more employees consults its works council (CSE) before any binding decision. Labour Code (Code du travail), articles L2312-8 and L2312-14
• In a sale of the business, a merger or another change in the employer's legal situation, all employment contracts in force continue with the new employer. Labour Code (Code du travail), article L1224-1
• Where a deal meets the French merger control thresholds, the parties wait for the final decision of the Autorité de la concurrence before completing it. Autorité de la concurrence: Contrôle des concentrations
• In sensitive activities, prior authorisation is needed for a foreign buyer taking control or a business line, or a non-EU/EEA buyer crossing 25% of votes (10% if listed). Direction générale du Trésor: Les conditions d'une opération soumise à autorisation préalable
• A foreign company without an establishment in France that hires staff there declares them and pays their social contributions in France, through the Urssaf Foreign Companies service. Urssaf: Foreign companies service
• Where the deal needs EU merger clearance, the buyer may not implement it before clearance. EU Merger Regulation (Council Regulation (EC) No 139/2004), article 7