Merger control

Gun jumping, Merger control, Warehousing structures

(Kirkland & Ellis LLP) and (Kirkland & Ellis)/ /Leave a comment

Key takeaways In November, the European Commission (“Commission”) published its much-anticipated reasoning in the Canon/Toshiba Medical Systems Corporation (“TMSC”) merger infringement case.[1]  Through this decision, which resulted in a remarkable €28 million fine against Canon for purely procedural contraventions, competition practitioners have gained further insight into the Commission’s standpoint on the use of warehousing structures…

Composite combinations, India, Merger control

(NALSAR University of Law) and (Institute of Law, Nirma University)/ /Leave a comment

Introduction Sections 5 and 6 of the Competition Act, 2002 [‘the Act’] provide the basic statutory framework for merger control in India. The Report of the Raghavan Committee, which played an instrumental role in the formulation of the Act, contemplated the Indian Competition Law regime to be one of pre-notification in order to elude the…

Merger control, United Kingdom

(Kirkland & Ellis)/ /Leave a comment

In his letter to Government[1] from February this year, the Chairman of the UK Competition and Markets Authority (“CMA”) proposed the introduction of a mandatory and suspensory notification regime in the UK for “larger mergers”. The adoption of this proposal would result in the creation of a hybrid regime in the UK, with the notification…

Bulgaria, Merger control

(Spasov & Bratanov) and (Kambourov & Partners)/ /Leave a comment

By 19 July 2018 the Bulgarian competition authority (“the Bulgarian NCA”/ “CPC”) had never blocked a transaction in a merger control procedure.[1] Since then, CPC has prohibited a total of 4 concentrations[2], including proposed acquisitions of the Bulgarian subsidiaries of CEZ A.S. (“CEZ BG group”) by various investors twice.[3] The last prohibition occurred on 24…

European Union, Merger control, Misleading information, Türkiye

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Mergers and acquisitions are effective tools for boosting innovation and commercial advancement. With the rising globalism in the circulation of goods and services, undertakings are forced to seek mutually beneficial collaborations to refrain from being outmaneuvered by the creative destruction that defines the way of doing business in the modern day. Vertical integrations that may…

Bulgaria, Merger control

(Kambourov & Partners)/ /Leave a comment

Bulgarian administrative law sets the bar high for legal interest of third parties not being an addressee of an administrative act to appeal the latter. A notorious example for the lofty threshold is the case regarding the revocation of the license of Corporate Commercial Bank. The majority shareholder in the bank appealed the revocation of…

Merger control, Switzerland

(Lenz & Staehelin)/ /Leave a comment

In its decision of June 24, 2019, the Federal Supreme Court affirms Ticketcorner Holding AG’s sole legitimacy to lodge a complaint against ComCo’s prohibition of the merger between its wholly-owned subsidiary Ticketcorner AG and Starticket AG. The Federal Supreme Court thereby clarifies that parties to a joint venture are not obliged to jointly appeal against…

India, Merger control

(KK Sharma Law Office)/ /Leave a comment

Having the Competition Act passed in 2002 and Competition Commission of India (hereinafter ‘CCI’) only started to function from 2009, Indian Competition law has taken many turns over the course of time and the ‘Competition Law Review Committee’, constituted in 2018, aims to ensure that the Indian legislation is in sync with the changing business…

European Commission, European Union, Gun jumping, Merger control

(LK Shields Solicitors)/ /Leave a comment

Canon, the Japanese imaging and optical products manufacturer, has been fined €28 million (US$ 31.8 million) for implementing its acquisition of Toshiba Medical Systems Corporation (TMSC), before it was approved by the Commission, which is in breach of EU merger control rules.  The fine was announced by the European Commission on 27 June 2019.  …

Canada, Merger control

(Davies Ward Phillips & Vineberg LLP, Canada)/ /Leave a comment

RECENT DEVELOPMENTS IN CANADIAN MERGER REVIEW: NEW COMMISSIONER MEANS NEW ENFORCEMENT AGENDA Anita Banicevic, Charles Tingley, Mark Katz In March 2019, Matthew Boswell was appointed to head the Canadian Competition Bureau (“Bureau”) as the country’s newest Commissioner of Competition (“Commissioner”). In that capacity, Mr. Boswell is responsible for the enforcement and administration of Canada’s Competition Act (Act”), including…