# French government rejects Flowserve's takeover of Velan

France's Ministry of Economy blocked Flowserve's acquisition of Canadian valve maker Velan under its foreign direct investment review. Flowserve plans to terminate the arrangement agreement after the 7 October 2023 outside date.

- Type: Regulation
- Announced: 2023-10-09
- Where: France
- Status: cancelled
- Products: industrial valves
- Sectors: [Pumps and Valves](https://endata.com/sectors/pumps-valves.md)

## Companies

- [Velan](https://endata.com/companies/441.md) (target)
- [Flowserve](https://endata.com/companies/911.md) (acquirer)

## Sources

- [worldpumps.com](https://www.worldpumps.com/content/news/french-regulators-reject-flowserve-s-takeover-of-velan), 2023-10-09: "Flowserve Corp has announced that the French Ministry of Economy, as part of its Foreign Direct Investment review process, has rejected the company's acquisition of Velan Inc"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.