Norvik hf.'s acquisition of Bergs Timber AB

The Competition Authority has been investigating a voluntary takeover bid by Norvik hf. for all the shares in Bergs Timber AB. Norvik hf. is an investment company, and its assets in Iceland include, among others, BYKO ehf. and the property company Smáragarður ehf. Bergs Timber AB is a Swedish corporate group consisting of a group of independent subsidiaries, each of which develops, produces and markets timber products for various uses. 

This concerns a vertical merger, but in the opinion of the Competition Authority, it does not appear that the merging parties will have the ability or incentive to exclude competitors and thereby cause a likely and significant distortion of competition due to the merger, such that there is cause for intervention on that basis.reason.