Merger control

Amazon, India, Merger control, Merger notification, Mergers, Minority shareholding, Misleading information

(National Law University)/ /Leave a comment

Background Amazon.com Inc. recently approached the Supreme Court against the decision of the National Company Law Appellate Tribunal (NCLAT), where the Tribunal affirmed the ruling of the Competition Commission of India (CCI). The impugned decision of the Tribunal upheld the penalty order against Amazon.com, on the basis of non-disclosure and suppression of material information in…

Gun jumping, Merger control, Merger notification, Merger Thresholds, Mergers, Portugal, Turnover allocation, Turnover thresholds

, (Morais Leitão)/ /Leave a comment

As in most jurisdictions, the Portuguese Competition Act (‘PCAct’) provides for an ex-ante merger control regime, according to which concentrations above certain thresholds are subject to mandatory pre-notification. Three alternative thresholds apply i) a turnover threshold, ii) a standard market share threshold and iii) a de minimis market share threshold (see Article 37 of the PCAct)….

Competition policy, Concentrations, Killer acquisitions, Merger control, Merger regulation

(European University Institute)/ /Leave a comment

According to Wikipedia, the term “filicide” refers to a deliberate act of a parent killing their own child. As awful as that sounds, in corporate life it is pretty common for undertakings to divest, diminish, or discontinue entire product lines, services, distribution chains, or complementary divisions of work. This is often done as a response…

European Commission, Merger control, Remedies, Standard of Proof

, , , , , (White & Case)/ /Leave a comment

On 18 May and 22 June 2022, the EU General Court upheld two European Commission prohibition decisions. Both judgments endorsed the European Commission’s assessment of the mergers at issue, recognising a broad margin of discretion in the European Commission’s evaluation of the concentrations’ effects and the remedies.   Key takeaways The EU General Court (“GC”)…

Dutch clause, European Commission, General Court of the European Union, Gun jumping, Killer acquisitions, Merger control

(Norton Rose Fulbright, Belgium)/ /Leave a comment

On September 6, 2022, the European Commission (Commission) announced that it had prohibited the acquisition by Illumina Inc., a U.S company supplying sequencing- and array-based solutions for genetic and genomic analysis, of Grail LLC, another U.S. company that develops blood tests for the early detection of cancers, under the EU Merger Regulation (EUMR).  Grail has…

Digital economy, Digital markets, Merger control, United Kingdom

(University Villanueva, Spain)/ /Leave a comment

On 18 January 2022, Microsoft announced its future acquisition of Activision Blizzard, which will be the largest tech merger in the history of the United States. The press release voiced concern on a range of competition authorities around the World. Microsoft is one of the three contenders in the market of console-making and by acquiring…

China, Merger control

(Hogan Lovells, China)/ /Leave a comment

Yesterday, on 29 August 2022, clearance for the FAW/Refire joint venture transaction was announced on one of the websites of the Chinese antitrust authority – i.e., the State Administration for Market Regulation (“SAMR”).  That transaction marks the first case where Chinese merger review was handled by a local SAMR office. The foundations to this delegation…

Abuse of dominance, Cartels, Commitments, Competition law, India, Leniency, Merger control, Settlement

(Lakshmikumaran and Sridharan)/ /Leave a comment

The Competition (Amendment) Bill (‘Bill’) was first published for public consultation in February 2020 and it is only on 5 August 2022 that it has finally been tabled before the Indian Parliament. The Bill is a concerted effort to harmonize competition law with the evolving realities of businesses today. The Bill proposes to amend both…

European Commission, Foreign direct investment, Foreign investment, Hungary, Merger control, Mergers

(Pérez-Llorca, Spain) and (Pérez-Llorca)/ /Leave a comment

Background The recent proliferation of foreign direct investment regimes (“FDI”) in Europe baffles practitioners and deal makers alike.  Why is my acquisition of, say, a developer of grapes in Spain potentially subject to CFIUS-like rules?  Can my carefully crafted leveraged buyout of a niche Polish producer of NFTs derail out of national security concerns because…

European Union, Merger control

, , (White & Case) and (White & Case, Belgium)/ /Leave a comment

On 13 July 2022, the General Court of the European Union confirmed the European Commission’s jurisdiction to review the Illumina/Grail transaction following a referral pursuant to Article 22 EUMR. The judgment is an important endorsement of the EC’s recent change in its Article 22 referral policy, and may embolden the EC to call in for…