Merger Remedies

Mergers

The French Competition Authority clears a merger subject to remedies in the retailing of gardening products market (Jardiland / InVivo)
French Competition Authority (Paris)
Retailing of gardening products* The Autorité de la concurrence clears the acquisition of Jardiland group by InVivo group (Gamm Vert, Delbard) subject to divestiture of 11 stores Parties to the transaction On 29 June 2018, InVivo Retail group, a subsidiary of InVivo cooperative union, which (...)

The French Competition Authority clears a merger subject to remedies in the food retail distribution sector (Bernard Hayot / Géant Casino)
French Competition Authority (Paris)
Distribution in Martinique* The Autorité de la concurrence clears, subject to conditions, the acquisition by Bernard Hayot Group of a Géant Casino hypermarket in Martinique On 20 June 2018, Bernard Hayot Group (‘BHG’) notified the Autorité de la concurrence of its planned acquisition of a Géant (...)

The EU Commission clears a merger subject to remedies in the fresh produce distribution market (Total Produce / Dole)
DG COMP (Brussels)
Mergers: Commission approves Total Produce’s acquisition of Dole, subject to conditions* The European Commission has approved under the EU Merger Regulation the acquisition by Total Produce of joint control over Dole. Both companies supply bagged salads, bananas and other fresh fruit and (...)

The French Competition Authority fines a retailer and distributor of electronic products for failing to comply with its merger remedies (Fnac / Darty)
French Competition Authority (Paris)
Fnac’s acquisition of Darty* The Autorité de la concurrence fines Fnac Darty Group €20 million for failing to divest itself of three stores, which was the pre-condition for clearance of the transaction. The Autorité also orders Fnac Darty to divest itself of two stores in lieu of those that it (...)

The French Ministry of Economy clears “Phase III” review and imposes commitment to maintain employment (Cofigeo / Agripole)
Van Bael & Bellis (Brussels)
On 19 July 2018, the French Ministry of Economy (“Ministry”) announced a revised clearance of Cofigeo’s acquisition of the ready meals business of Agripole. This is the first time in the history of French merger control that the Ministry has reviewed a transaction on public interest grounds under (...)

The EU Commission clears a merger, subject to remedies, in the titanium dioxide pigment market (Tronox / Cristal)
DG COMP (Brussels)
Mergers: Commission approves Tronox’s acquisition of Cristal, subject to conditions* The European Commission has approved under the EU Merger Regulation the acquisition of Cristal by Tronox, both major suppliers of titanium dioxide pigment. The approval is conditional on full compliance with (...)

The EU Commission clears a merger subject to remedies in the manufacturing of pool equipment products market (Zodiac / Fluidra)
DG COMP (Brussels)
Mergers: Commission clears Zodiac and Fluidra pool equipment joint venture, subject to conditions* The European Commission has approved under the EU Merger Regulation the proposed creation of a joint venture between the swimming pool equipment businesses of Zodiac and Fluidra. The approval is (...)

The Indian Competition Authority conditionally clears a merger in the agrochemicals and seeds industry (Bayer / Monsanto)
Shardul Amarchand Mangaldas & Co (New Delhi)
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Shardul Amarchand Mangaldas & Co (New Delhi)
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Shardul Amarchand Mangaldas & Co (New Delhi)
In an order dated 14 June 2018, the Competition Commission of India (CCI) approved Bayer AG’s (Bayer) acquisition of Monsanto Company (Monsanto) (together, the Parties) subject to certain modifications. Shardul Amarchand Mangaldas & Co. represented Monsanto and assisted in seeking the CCI’s (...)

The French Competition Authority clears a merger, subject to remedies, in the market for the production and sale of ready meals (Financière Cofigeo / Agripole group)
French Competition Authority (Paris)
Acquisition of William Saurin* The Autorité de la concurrence clears the acquisition Financière Cofigeo of certain securities and assets of the ready meals arm of Agripole group (William Saurin, Panzani, Garbit) subject to two targeted divestments designed to maintain competition in the sector. (...)

The Indian Competition Authority approves acquisition of global agricultural company by global pharmaceutical company subject to permanent divestments and 7-year FRAND licensing of genetically modified and non-GM agricultural products (Bayer AG / Monsanto)
Vaish Associates, Advocates (New Delhi)
CCI approves the acquisition of Monsanto by Bayer AG subject to structural modifications* The CCI by its order dated June 14, 2018 has approved the proposed acquisition of Monsanto Company (Monsanto) by Bayer Aktiengesellschaft (Bayer). The CCI approved the proposed combination, subject to the (...)

The EU Commission clears for the second time a merger subject to remedies on the market for the wholesale of premium Pay TV film channels (Ziggo / Liberty Global)
DG COMP (Brussels)
Mergers: Commission confirms approval of acquisition of Dutch cable TV operator Ziggo by Liberty Global, subject to conditions* The European Commission has reapproved with conditions, under the EU Merger Regulation, the acquisition of Ziggo by Liberty Global. The merger was first approved in (...)

The General Court of the EU finds that the Commission must re-assess compagnies request to waive their pricing commitments (Lufthansa)
Gomez Acebo & Pombo (Brussels)
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Gomez Acebo & Pombo (Brussels)
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Gomez Acebo & Pombo (Brussels)
In 2005, the European Commission cleared the planned acquisition of Swiss by Lufthansa subject to a a number of commitments, which included conditions on fares with regard to the Zurich-Stockholm and Zurich-Warsaw routes. On 4 November 2013, Lufthansa and Swiss submitted a request for a (...)

The Irish Competition Authority obtains remedies in order to clear a merger in the wholesale and retail market (4 Aces / BWG)
Irish Competition Authority (Dublin)
CCPC obtains commitments from BWG to secure approval for proposed acquisition of 4 Aces Wholesale* Following an extensive investigation, the Competition and Consumer Protection Commission (CCPC) has today cleared the proposed acquisition of 4 Aces Wholesale Limited (“4 Aces”) by BWG Foods (...)

The EU Commission clears a merger subject to remedies in the steel wheels manufacturing market (Mefro Wheels / Accuride)
DG COMP (Brussels)
Mergers: Commission approves acquisition of Mefro Wheels by Accuride, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the acquisition of steel wheels manufacturer Mefro Wheels by its competitor Accuride. The decision is conditional on the divestment (...)

The EU Commission clears a merger subject to remedies on the seeds, pesticides and digital agriculture market (Bayer’s Crop Science / BASF)
DG COMP (Brussels)
Mergers: Commission clears acquisition of parts of Bayer’s Crop Science business by BASF, subject to conditions* The European Commission has conditionally approved under the EU Merger Regulation the acquisition of parts of Bayer’s Crop Science business by BASF. This transaction is related to the (...)

The Romanian Competition Authority clears a merger subject to remedies in the pharmaceutical sector (A&D Pharma / Glebi)
Romanian Competition Council (Bucharest)
The Competition Council authorized with conditions the taking over of A&D Pharma holdings nv by Glebi holdings plc* The Competition Council authorised with conditions the transaction by which Glebi Holdings PLC takes over A&D Pharma Holdings NV. Glebi Holdings PLC is part of Penta (...)

The EU Commission considers potential harm to innovation as part of its merger assessments, particularly in R&D driven sectors such as pharmaceuticals and technology (Bayer / Monsanto)
Shearman & Sterling (Brussels)
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Shearman & Sterling (Brussels)
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Shearman & Sterling (London)
The European Commission has routinely considered potential harm to innovation as part of its merger assessments, particularly in R&D driven sectors such as pharmaceuticals and technology. In recent years, however, the Commission’s traditional innovation concerns have developed into broader, (...)

The EU Commission clears a merger, subject to remedies, in the seeds, pesticides and digital agriculture sector (Bayer / Monsanto)
DG COMP (Brussels)
Mergers: Commission clears Bayer’s acquisition of Monsanto, subject to conditions* The European Commission has approved under the EU Merger Regulation the acquisition of Monsanto by Bayer. The merger is conditional on the divestiture of an extensive remedy package, which addresses the parties’ (...)

The German Competition Authority clears a merger subject to remedies in the rail sector (CIT Rail / VTG Rail Assets)
German Competition Authority (Bonn)
Rail wagon leasing companies may merge subject to condition precedent* The Bundeskartellamt has cleared the acquisition of CIT Rail Holdings (Europe) S.A.S. by VTG Rail Assets GmbH subject to a condition precedent. The companies may only implement the merger once they have sold a substantial (...)

The EU Commission clears a merger subject to remedies in the global media market and rejects a referral request by the Polish Competition Authority (Discovery / Scripps)
DG COMP (Brussels)
Mergers: Commission approves Discovery’s acquisition of Scripps, subject to conditions; rejects referral request by Polish competition authority* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Scripps by Discovery, both US based global media (...)

The Spanish National Markets and Competition Commission clears the merger of the three card payment systems operating in Spain (Servired / Sistema)
Callol, Coca & Asociados (Madrid)
The NMCC has approved, subject to commitments, the merger of the three card payment service companies operating in Spain: Servired, Sistema 4B and Euro 6000, of which practically all banking entities present in Spain were shareholders. As a result of the operation, the Spanish card payment (...)

The Belgian Competition Authority clears a merger subject to remedies in the market of garages for maintenance and repairs of trucks (Kant / Volvo)
Belgian Competition Authority (Brussels)
The Competition College of the BCA authorises conditionally the acquisition of garages of the group Kant by Volvo Group Belgium* The Competition College of the Belgian Competition Authority (BCA) has authorised on 31 January 2018 the acquisition of garages of Kant NV by Volvo Group Belgium NV. (...)

The French Competition Authority clears a merger subject to remedies in the sector of collection and recovery of non-hazardous office waste (La Poste / Suez)
French Competition Authority (Paris)
Collection and recovery of non-hazardous office waste sector* In an unprecedented move, the Autorité de la concurrence closes a litigation procedure, and on the same day, clears a merger involving the same activity. The Autorité obtained commitments from La Poste regarding the promotion, (...)

The EU Commission clears a merger subject to remedies in the markets for passenger air travel (Lufthansa / Air Berlin)
DG COMP (Brussels)
Mergers: Commission approves acquisition by Lufthansa of Air Berlin subsidiary LGW, subject to conditions* The European Commission has approved under the EU Merger Regulation Lufthansa’s proposed acquisition of certain Air Berlin assets, through the entity Luftfahrtgesellschaft Walter GmbH (...)

The French Competition Authority clears a merger subject to remedies in the home decoration and gardening retail market (Bricorama / ITM Équipement de la Maison)
French Competition Authority (Paris)
The Autorité de la concurrence has cleared, subject to several conditions, the acquisition of the Bricorama group by ITM Équipement de la Maison (Bricomarché, Brico Cash)* Parties to the transaction On 18 October 2017, ITM Équipement de la Maison, a subsidiary of ITM Entreprises, which notably (...)

The Finnish Competition Authority clears a merger subject to remedies on the retail and purchasing markets of the grocery sector (SOK / Stockmann Delicatessen)
Finnish Competition and Consumer Authority (Helsinki)
FCCA approves the acquisition between SOK and Stockmann Delicatessen subject to conditions* Today, the Finnish Competition and Consumer Authority (FCCA) approved the acquisition of Stockmann Group’s Delicatessen business by Suomen Osuuskauppojen Keskuskunta, SOK (The Central Finnish Cooperative (...)

The French Competition Authority clears a merger subject to remedies in the agricultural cooperatives sector (CAM / Terrena)
French Competition Authority (Paris)
The Autorité de la concurrence clears, subject to commitments, the merger of Coopérative agricole des Agriculteurs de la Mayenne (CAM) with Terrena* Parties to the operation On 30 October 2017, the parties notified the Autorité de la concurrence of their intention to merge through a merger by (...)

The Finnish Competition Authority clears a merger subject to remedies in the hotel accommodation market (Scandic / Restel)
Finnish Competition and Consumer Authority (Helsinki)
The FCCA approves Scandic’s acquisition of Restel, with conditions* Today, the FCCA has approved the acquisition of Restel Hotellit Oy by Scandic Hotels Oy, with conditions. As a condition for the approval of the sale, the FCCA obliged Scandic to sell one hotel in Pori, Lahti and Kuopio to its (...)

The Russian Competition Authority clears the creation of a joint undertaking subject to remedies in the taxi market (Yandex / Uber)
Russian Federal Antimonopoly Service (Moscow)
FAS cleared merger between Yandex.Taxi and Uber, subject to conditions* On November 24, 2017 FAS agreed on the application of the Yandex N.V., Uber International C.V. for conclusion of an agreement on the creation of joint enterprise, subject to conditions. The results of analysis of the (...)

The Russian Competition Authority requires several remedies before clearing a merger in the agrotechnology market (Bayer / Monsanto)
Russian Federal Antimonopoly Service (Moscow)
FAS Russia applies access and behavioral remedies in the Bayer/Monsanto merger* The Federal Antimonopoly Service of Russia (FAS Russia) has concluded a review of the merger between “Bayer AG” (Germany) and “Monsanto Company” (USA) filed according to paragraphs 8 and 9 of section 1 of article 28 of (...)

The US FTC files a complaint challenging a proposed acquisition (Red Venture / Bankrate)
Shearman & Sterling (Washington)
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Shearman & Sterling (Washington)
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Shearman & Sterling (Washington)
On November 3, 2017, the Federal Trade Commission filed a complaint challenging Red Ventures’ proposed acquisition of Bankrate. The FTC alleged that the deal likely would have lessened competition in the market for thirdparty paid referral services for senior living facilities—even though Red (...)

The Hellenic Competition Authority clears an acquisition of joint control over a dairy milk company subject to commitments (Delta Foods / Mevgal)
Prentoulis Gerakini Law Partnership (Athens)
Under its decision No. 650/2017 the Hellenic Competition Commission (HCC) approved the acquisition of joint control of Mevgal SA by Delta Food SA and members of the Hatzakou family. Delta Food S.A., member of the Vivartia Group of companies, produces and distributes dairy products such as, (...)

The French Competition Authority adopts an innovative merger decision in the health care institution sector (Elsan / MPP)
Simmons & Simmons (Paris)
The French Competition Authority (FCA) has adopted an innovative merger decision in the health care institution sector, assessing not only the effects of the operation on medical services (diagnostic and treatments), but also the effects on non-medical ancillary services. An innovative merge (...)

The Belgian Competition Authority clears a merger subject to remedies on the telecommunication market (Coditel / Telenet)
Belgian Competition Authority (Brussels)
The BCA has approved conditionally the acquisition of Coditel by Telenet* The Competition College of the Belgian Competition Authority (BCA) has approved conditionally on 12 June 2017 the acquisition of Coditel Brabant SPRL and her subsidiary Coditel SARL (hereafter ‘Coditel’) by Telenet Group (...)

The EU Commission clears a merger subject to remedies on the markets for debt collection and debt purchasing (Intrum Justitia / Nordic Capital)
DG COMP (Brussels)
Mergers: Commission approves acquisition of Intrum Justitia by Nordic Capital, subject to conditions* The European Commission has approved under the EU Merger Regulation the acquisition of Intrum Justitia by Nordic Capital. The decision is conditional on the divestment of the companies’ (...)

The EU Commission clears acquisition of pharmaceutical company by global conglomerate, subject to commitment that clinical development of innovative insomnia drugs will not be adversely affected by the merger (J&J / Actelion)
DG COMP (Brussels)
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Spanish Ministry of Economy, Industry and Competitiveness
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DG COMP (Brussels)
J&J/Actelion - falling asleep fast and deeply while staying fully awake on innovation * In a nutshell: The Commission found competitive concerns due to the combination of two development programmes for insomnia drugs, currently in Phase II of clinical trials. These pipeline drugs are based (...)

The EU Commission clears a merger subject to remedies in the telecommunication market (Telecom Italia / Vivendi)
DG COMP (Brussels)
Mergers: Commission approves Vivendi’s acquisition of Telecom Italia, subject to conditions* The European Commission has approved the acquisition of de facto control over Telecom Italia by Vivendi. The decision is conditional on the divestment of Telecom Italia’s stake in Persidera. Telecom (...)

The German FCO publishes merger remedies guidelines
Heinz & Zagrosek (Köln)
Bundeskartellamt publishes merger remedies guidelines* On May 30, 2017, the Bundeskartellamt (Federal Cartel Office, "FCO“) has published guidelines on remedies in German merger control, also available in an English translation. The very detailed guidelines (87 pages) provide a comprehensive (...)

The EU Commission conditionally approves acquisition of de facto sole control over national incumbent telecommunications company by holding company otherwise competing with it in the market for wholesale access to TV networks (Vivendi / Telecom Italia)
DG COMP (Brussels)
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DG COMP (Brussels)
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DG COMP (Brussels)
Vivendi/Telecom Italia - jurisdictional and substantive assessment of minority shareholdings* In a nutshell: The Vivendi/Telecom Italia case raised interesting issues related to minority shareholdings. In relation to jurisdiction, the transaction consisted of the acquisition of (de facto) (...)

The EU Commission alleges a telecommunication company has breached EU rules by implementing its merger before notification or approval (Alice / PT Portugal)
DG COMP (Brussels)
Mergers: Commission alleges Altice breached EU rules by early implementation of PT Portugal acquisition* The European Commission has sent a Statement of Objections alleging that multinational telecommunications company Altice (the Netherlands), breached the EU Merger Regulation by implementing (...)

The EU Commission sends a statement of objections to a company to investigate whether a merger was implemented prior to the Commission’s clearance (Alice / PT Portugal)
Shearman & Sterling (London)
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Shearman & Sterling (Brussels)
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Shearman & Sterling (Brussels)
When a transaction meets the thresholds of the EU Merger Regulation, companies must notify and obtain clearance from the European Commission before implementing the transaction. This means that until clearance is obtained, companies should continue to operate independently (including (...)

The German Competition Authority publishes merger remedies guidance
Jones Day (Frankfurt)
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Jones Day (Brussels)
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Jones Day (Dusseldorf)
The German Federal Cartel Office (Bundeskartellamt or "FCO") has published guidance on the requirements placed on remedies in merger control and their implementation. Remedies are an important instrument in merger control practice. They can enable the clearance of a merger under conditions and (...)

The EU Commission clears a merger subject to remedies in the identity and security solutions market (Morpho / Advent International)
DG COMP (Brussels)
Mergers: Commission clears acquisition of smart card maker Morpho by Advent International, subject to conditions* The European Commission has cleared under the EU Merger Regulation the proposed acquisition of identity and security solutions provider Morpho, based in France, by Advent (...)

The UK Competition Authority clears a merger subject to remedies in the cinema sector (Odeon / Vue)
British Competition Authority - CMA (London)
CMA accepts Manchester cinemas sale* In December, the Competition and Markets Authority (CMA) announced that AMC (UK) Acquisition Ltd’s (AMC’s) purchase of Odeon and UCI Cinemas Holdings Ltd (Odeon) would face an in-depth investigation, unless AMC could address concerns over the merger’s effect (...)

The UK Competition Authority clears a merger subject to remedies on the market of payment systems (MasterCard / VocaLink)
British Competition Authority - CMA (London)
CMA accepts Mastercard/VocaLink undertakings* The CMA has today accepted undertakings offered by Mastercard to address competition concerns arising from its purchase of VocaLink. On 18 January 2017, the Competition and Markets Authority (CMA) announced it would look in detail at whether the (...)

The EU Commission clears a merger subject to remedies on the pesticides and plant growth regulators market (ChemChina / Syngenta)
DG COMP (Brussels)
Mergers: Commission clears ChemChina acquisition of Syngenta, subject to conditions* The European Commission has approved under the EU Merger Regulation the proposed acquisition of Syngenta (based in Switzerland) by ChemChina. The approval is conditional on the divestiture of significant parts (...)

The EU Commission approves acquisition of leading global R&D crop protection company by leading global generic crop protection company, subject to remedies (ChemChina / Syngenta)
DG COMP (Brussels)
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DG COMP (Brussels)
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DG COMP (Brussels)
ChemChina/Syngenta: when growth is no longer organic* In a nutshell: This case concerned the acquisition of Syngenta by ChemChina, which already controlled Adama, the largest supplier of generic crop protection products. Adama is the largest generic company in this industry worldwide and in (...)

The EU Commission prohibits acquisition of largest national cement producer by the largest national cement importers, due to insufficient divestment to fully eliminate competition concerns (HeidelbergCement / Schwenk / Cemex Hungary / Cemex Croatia)
Freshfields Bruckhaus Deringer (Brussels)
HeidelbergCement/Schwenk/Cemex Hungary/Cemex Croatia - Cement travelling across borders* In a nutshell: The acquisition of Cemex Croatia would have seen DDC transform from an expanding importer in Croatia into the largest Croatian incumbent, and customers could have no longer benefitted from (...)

The EU Commission blocks attempted merger between Europe’s two largest stock exchange operators, due to their inability to offer remedies that would prevent the creation of a de facto monopoly in the markets for fixed income clearing (Deutsche Börse / London Stock Exchange)
King’s College (London)
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DG COMP (Brussels)
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DG COMP (Brussels)
DB/LSE - Assessing financial infrastructure markets: Network effects, service portfolios and viability of remedies* In a nutshell: The Commission prohibited the merger between the two largest European financial infrastructure groups, Deutsche Börse and London Stock Exchange, in March 2017. This (...)

The EU Commission clears merger between two global chemical companies, subject to remedies to ensure price and innovation competition in the markets for pesticides, petrochemicals (Dow / DuPont)
DG COMP (Brussels)
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Skadden, Arps, Slate, Meagher & Flom (Brussels)
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DG COMP (Brussels)
Dow/DuPont: protecting product and innovation competition * In a nutshell: The main concerns arising in the Dow/DuPont merger related to crop protection, on both product and innovation competition. Innovation is of key importance to this industry and the merging parties were two of only five (...)

The Delaware Supreme Court affirms a termination of merger agreement due to the inability of a party to deliver a necessary tax opinion (Energy Transfer / Williams)
White & Case (New York)
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White & Case (New York)
Resolving a dispute surrounding one of the largest M&A deals of 2015, the Delaware Supreme Court affirmed the Delaware Chancery Court’s decision allowing Energy Transfer Equity, L.P. to terminate its proposed acquisition of The Williams Companies, Inc. due to the inability of Energy (...)

The German Competition Authority clears a merger on the sanitary wholesale market (Wilhelm Gienger / Cordes & Graefe)
German Competition Authority (Bonn)
Bundeskartellamt clears merger between sanitary wholesalers* The Bundeskartellamt has cleared the acquisition of the business operations of Wilhelm Gienger GmbH, Stuttgart, by Cordes & Graefe KG, Bremen, after the companies changed their original plans in response to concerns expressed by (...)

The French Competition Authority fines companies for breaching commitments on fibre optic rollout (Altice / SFR)
Van Bael & Bellis (Brussels)
On 9 March 2017, the French Competition Authority (“FCA”) fined Altice and SFR Group € 40 million for violating commitments entered into with the FCA at the conclusion of its review of the Altice/SFR merger in October 2014. By way of background, the commitments required Altice/ SFR to honour an (...)

The UK Competition and Markets Authority is consulting on proposed changes to the UK merger regime to reduce the burden of investigations into mergers where the parties operate in small markets
Jones Day (London)
UK merger control process The UK operates a two-stage merger control regime. Before starting a formal merger investigation, the CMA will conduct pre-notification discussions with the parties, which typically last one to two months. Upon conclusion of these discussions, the CMA opens a formal (...)

The EU Commission clears a merger, subject to remedies, on the threat detection equipment business market (Morpho Detection / Smiths)
DG COMP (Brussels)
Mergers: Commission clears acquisition of Morpho Detection by Smiths, subject to conditions* The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Morpho Detection, the threat detection equipment business of Safran of France, by Smiths of the UK. The (...)

The EU Commission clears acquisition between two leading global manufacturers of threat detection equipment, subject to remedies (Smiths Group / Morpho Detection)
DG COMP (Brussels)
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DG COMP (Brussels)
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DG COMP (Brussels)
Smiths Group/Morpho Detection: maintaining security through innovation* In a nutshell: Smiths’ acquisition of Morpho Detection brought together two leading suppliers of the equipment used to detect explosives and narcotics. This equipment is omnipresent at security checks in airports and is (...)

The Indian Competition Authority fines merging parties for failure to disclose global acquisition of the healthcase antisepsis business (Schulke / ASP Division of Ethicon)
Vaish Associates, Advocates (New Delhi)
CCI penalizes Schulke and Mayr GmBH (Schulke) for delayed filing in relation to the acquisition of Healthcare Antisepsis Solutions (HAS) business of Johnson & Johnson Private Limited (JJPL)* CCI, by its order dated January 13, 2017 has imposed a penalty of INR 25,00,000 on Schulke on (...)

The US FTC publishes its merger remedies report and signals tougher enforcement
Skadden, Arps, Slate, Meagher & Flom (Washington DC)
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Jones Day (Houston)
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Jones Day (Washington DC)
The Federal Trade Commission staff have completed a new study evaluating its process for designing and implementing merger remedies and the success of the remedies it has imposed in the past. Its report—"The FTC’s Merger Remedies 2006-2012: A Report of the Bureaus of Competition and (...)

The US FTC issues its second report on merger remedies
Baker McKenzie (Chicago)
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Baker McKenzie (Washington)
Expanding on the FTC’s divestiture study in 1999, on 19 January 2017, the FTC issued its second report, The FTC’s Merger Remedies 2006-2012: A Report of the Bureau of Competition and Economics. Recognizing that the efficacy of its remedies is critical to its mission, the key finding is that "the (...)

The Spanish Competition Authority clears a merger subject to remedies in the healthcare sector (Quironsalud / Fresenius Helios)
Callol, Coca & Asociados (Madrid)
The acquisition (Transaction) of Quironsalud by Fresenius Helios had been initially notified to the European Commission, who referred the Transaction to the SCA under Article 9 of the EU Merger Regulation. On 22 December 2016, the SCA issued its phase I decision authorizing the Transaction (...)

The Supreme Administrative Court of Czech Republic confirms fine for not complying with structural commitments imposed in merger approval decision (Rewe / Plus Discount)
Weil, Gotshal & Manges (Prague)
On 21 December 2016, the Supreme Administrative court rejected cassation appeal of REWE Zentralfinanz eG (“REWE”) against the previous judgment of the Regional Court in Brno which rejected claim against the Czech Office for Protection of Competition (“Office”) alleging that the Office acted (...)

The UK Competition Authority accepts merger remedies proposed by petrol and diesel retailers (Dover / Wayne)
British Competition Authority - CMA (London)
CMA accepts remedies in fuel pumps merger* The CMA has accepted undertakings from Dover to remedy competition concerns arising from its merger with Wayne. This follows the Competition and Markets Authority’s (CMA) intervention to ensure that choice is maintained for petrol and diesel retailers (...)

The Polish Competition Office clears a merger, subject to remedies, in the wholesale and retail sale of everyday consumer goods market (Dystrybucja Alkoholi / Eurocash)
Polish Competition Authority (Warsaw)
Conditional concentration clearance: Eurocash - PDA* The President of the Office of Competition and Customer Protection (UOKiK) gave his consent to a takeover of Polska Dystrybucja Alkoholi by Eurocash. The transaction may take place providing the purchase of a warehouse in Pabianice is (...)

The Polish Competition Authority gives conditional consent to a merger of undertakings operating on the market for wholesale and retail sale of alcoholic beverages (Eurocash / Polska Dystrybucja Alkoholi)
WKB Wierciński Kwieciński Baehr (Warsaw)
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WKB Wierciński Kwieciński Baehr (Warsaw)
In its decision of December 2016, the Polish Competition Authority (Prezes Urzędu Ochrony Konkurencji i Konsumentów, the “OCCP President” or the “Authority”) has given his conditional consent for Eurocash to take control over Polska Dystrybucja Alkoholi (hereinafter the “PDA”). Both undertakings (...)

The Dutch Competition Authority clears a merger in the telecommunication market (Vodafone Thuis / T-Mobile)
Netherlands Authority for Consumers & Markets (The Hague)
ACM clears acquisition of Vodafone Thuis by T-Mobile* Telecom provider T-Mobile is allowed to acquire the fixed-telecom division of Vodafone Netherlands. Vodafone has branded this division ‘Vodafone Thuis,’ which offers services for fixed telephony, TV, and internet. The Netherlands Authority (...)

The French Competition Authority clears a merger, subject to remedies, on the slaughtering and meat processing market (Sicavyl / Sicarev)
French Competition Authority (Paris)
The Autorité de la concurrence clears the merger between Sicavyl and Sicarev, subject to conditions* Parties to the operation On 4 November 2016, the agricultural cooperatives Sicarev and Sicavyl, mainly active in the meat sector, notified the Autorité de la concurrence of their intended (...)

The Danish Maritime and Commercial Court requests the EU Court of Justice to provide guidance on gun-jumping test (Ernst & Young / KPMG)
Gorrissen Federspiel (Copenhagen)
CJEU requested to provide guidance on gun-jumping test* With Post Danmark I and II under their belts, it seems Danish courts are punching above their weight when it comes to contributing to the CJEU’s development of EU competition law through preliminary rulings. Yet another interesting (...)

The EU Commission clears a merger, subject to remedies, on the professional social networks market (LinkedIn / Microsoft)
DG COMP (Brussels)
Mergers: Commission approves acquisition of LinkedIn by Microsoft, subject to conditions* The European Commission has approved under the EU Merger Regulation the proposed acquisition of LinkedIn by Microsoft. The decision is conditional on compliance with a series of commitments aimed at (...)

The EU Commission clears acquisition of leading global professional social networking platform company by leading global software company, subject to 5-year remedies that include monitoring and prevention of tying (Microsoft / LinkedIn)
DG COMP (Brussels)
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DG COMP (Brussels)
Microsoft/LinkedIn: Big data and conglomerate effects in tech markets* In a nutshell: The Microsoft/LinkedIn case is an important development in the Commission’s assessment of mergers involving data-related issues in tech industries. It provides further guidance on the framework for the (...)

The OECD holds roundtable on agency decision-making in merger cases: prohibition and conditional clearances
OECD - Competition Division
Executive Summary, by the Secretariat* Working Party No. 3 held a roundtable on 29 November 2016 on Agency Decision-Making in Merger Cases: From a Prohibition Decision to a Conditional Clearance. Considering the roundtable discussion, the delegates’ written contributions, presentations from the (...)

The EU Commission clears a merger, subject to remedies, in the pharmaceutical sector (St Jude Medical / Abbott Laboratories)
DG COMP (Brussels)
Mergers: Commission approves acquisition of St Jude Medical by Abbott Laboratories, subject to conditions* The European Commission has approved under the EU Merger Regulation the proposed acquisition of St Jude Medical by Abbott Laboratories, both US based companies that develop and market (...)

The Belgian Competition Authority clears a merger subject to remedies in the sector of newspapers distribution and delivery of small parcels (AMP / LS Distribution Benelux / bpost)
Belgian Competition Authority (Brussels)
The Competition College of the BCA has approved conditionally the acquisition of AMP and LS Distribution Benelux by bpost* The Competition College of the Belgian Competition Authority has on 8 November 2016 conditionally approved the acquisition of AMP NV and LS Distribution Benelux NV by (...)

The French Competition Authority clears a merger subject to remedies in the airports market (Aéroports de Lyon / Vinci Airports)
French Competition Authority (Paris)
The Autorité de la concurrence clears the acquisition of Aéroports de Lyon by Vinci Airports, subject to commitments* On 6 September 2016, Vinci Airports, a subsidiary of the Vinci group, notified the Autorité de la concurrence of its acquisition of sole control of Aéroports de Lyon, the company (...)

The German Competition Authority clears a merger, subject to remedies, in the food retail market (Coop / Rewe)
German Competition Authority (Bonn)
Bundeskartellamt clears acquisition of Coop by Rewe subject to conditions* The Bundeskartellamt has cleared the acquisition of the northern German food retailer Coop eG, Kiel, by REWE Markt GmbH, Cologne, subject to conditions. Coop operates around 200 supermarkets in the federal states of (...)

The EU Commission clears acquisition of global laser manufacturer by its leading competitor, subject to conditions (Coherent / Rofin-Sinar)
DG COMP (Brussels)
Coherent/Rofin-Sinar: Merger between leading CO2 laser suppliers cleared in phase I subject to conditions* In a nutshell: After the Bundeskartellamt had prohibited Coherent’s acquisition of Excel (now Synrad) in 2006, Coherent announced in 2016 its intention to acquire Rofin-Sinar; another (...)

The UK Competition Authority orders structural remedies to clear a merger on the market of energy trading services (Intercontinental Exchange / Trayport)
Van Bael & Bellis (Brussels)
On 17 October 2016, the UK Competition and Markets Authority (“CMA”) ordered Intercontinental Exchange Inc. (“ICE”) to sell Trayport to a new owner, to be approved by the CMA, in order to preserve competition on the market for the supply of certain energy trading services. ICE is the largest (...)

The EU Commission clears acquisition between two of the world’s largest rail equipment manufacturers, subject to divestment of the overlapping friction materials business (Wabtec / Faiveley)
DG COMP (Brussels)
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DG COMP (Brussels)
,
DG COMP (Brussels)
Wabtec/Faiveley - Braking News: Commission conditionally clears acquisition in train equipment sector* In a nutshell: The Commission cleared the acquisition of Faiveley Transport by Wabtec, subject to conditions. This case required the assessment of the effects of a merger with a potential (...)

The French Competition Authority clears a merger, subject to remedies, in the agriculture sector (Agri-Négoce / Axéréal Participations)
French Competition Authority (Paris)
The Autorité de la concurrence clears the acquisition of sole control of Agri-Négoce by Axéréal Participations, subject to commitments* On 21 April 2016, the company Axéréal Participations, subsidy of the farming cooperative Axéréal, notified the Autorité de la concurrence of the acquisition of sole (...)

The UK Competition Authority accepts remedies proposed by a supplier of fruit juice and clears the merger (Hain / Orchard)
British Competition Authority - CMA (London)
CMA accepts fruit juice merger remedies* The CMA has accepted Hain’s undertaking to sell its own-label fruit juice business to an approved buyer. Hain Frozen Foods UK Ltd (Hain) bought Orchard House Foods Ltd (Orchard) in December 2015. Both are major suppliers of own-label freshly squeezed (...)

The UK Competition Authority accepts merger remedies proposed by a leading global interdealer broker (Tullett Prebon)
British Competition Authority - CMA (London)
CMA accepts broker merger undertakings* The CMA has accepted undertakings from Tullett Prebon and will not refer its merger with IGBB for an in-depth investigation. Tullett Prebon plc and ICAP plc are leading global interdealer brokers, companies that sit between investment banks helping to (...)

The UK Competition Authority accepts merger remedies proposed by a company specialized in records management services (Iron Mountain)
British Competition Authority - CMA (London)
CMA accepts records management merger undertakings* The CMA has accepted undertakings from Iron Mountain Inc to sell C21 Data Services in Aberdeen and Dundee to an approved buyer. Iron Mountain and Recall both provide records management services, which comprise the storage and retrieval of (...)

The EU Commission approves a joint venture between the third and fourth largest telecom operators in Italy subject to structural remedies (Hutchison / VimpelCom)
Cleary Gottlieb Steen & Hamilton (Rome)
European Commission approves a joint venture between the third and fourth largest telecom operators in Italy subject to structural remedies* On 1 September 2016 the European Commission approved a proposed joint venture between Vimpelcom and CK Hutchison, respectively the owners of Wind and H3G (...)

The Indian Competition Appellate Tribunal (COMPAT) upholds the Indian Competition Authority’s fine for gun jumping imposed on manufacturer of industrial chemicals and fertilizers (SCM Soilfert / Deepak Fertilizers and Petrochemicals)
Vaish Associates, Advocates (New Delhi)
COMPAT upholds penalty imposed on SCM Soilfert for “gun-jumping”* COMPAT by its order dated August30, 2016 has upheld the penalty imposed by the CCI on SCM Soilfert for failure to file a notice under Section 6(2) of the Competition Act, 2002 (the Act) for a combination. Deepak Fertilizers and (...)

The EU Commission clears merger, subject to remedies, in the lifting equipment market (Konecranes / Terex)
DG COMP (Brussels)
Mergers: Commission approves Konecranes’ acquisition of Terex’s crane and container handling business, subject to conditions* The European Commission has cleared under the EU Merger Regulation the acquisition by Konecranes of Terex’s crane and container handling business, MHPS. The decision is (...)

The EU Commission clears a merger, subject to remedies, in the pharmaceutical sector (Boehringer Ingelheim /Sanofi)
DG COMP (Brussels)
Mergers: Commission clears acquisition of Boehringer Ingelheim’s consumer health business by Sanofi, subject to conditions* The European Commission has approved under the EU Merger Regulation the proposed acquisition of the consumer health business of Germany’s Boehringer Ingelheim by Sanofi of (...)

The EU Commission clears acquisition that creates global number two animal health company, subject to fix-it-first remedy including a technology transfer of vaccines (Boehringer Ingelheim / Sanofi Animal Health)
DG COMP (Brussels)
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DG COMP (Brussels)
Boehringer Ingelheim/Sanofi Animal Health - The timely injection of a fix-itfirst remedy* In a nutshell: The acquisition of Sanofi’s animal health business by Boehringer Ingelheim led to competition concerns in a number of animal vaccine and pharmaceutical markets. The remedy put forward (...)

The EU Commission clears a merger, subject to remedies, on the telecommunication market and rejects a referral request issued by the Dutch competition authority (Vodafone / Liberty Global)
DG COMP (Brussels)
Mergers: Commission clears Vodafone/Liberty Global telecoms joint venture, subject to conditions; rejects referral request by Dutch competition authority* The European Commission has cleared under the EU Merger Regulation the proposed creation of a joint venture in the Netherlands by mobile (...)

The EU Commission conditionally clears the creation of a joint venture between two mobile telecom operators (Vodafone / Liberty Global)
Van Bael & Bellis (Brussels)
On 3 August 2016, the European Commission conditionally cleared the creation of a joint venture between mobile telecom operator Vodafone and cable company Liberty Global in the Netherlands. The joint venture will offer unified communications services and will compete with KPN, the only other (...)

The Indian Competition Authority approves a merger and amalgamation between two insurance companies (L&T General Insurance / HDFC Ergo)
Vaish Associates, Advocates (New Delhi)
CCI approves acquisition and amalgamation between HDFC Ergo and L&T* The proposed combination relates to acquisition of 100% shareholding in L&T General Insurance Company Limited (“LTGI”) by HDFC Ergo General Insurance Company Limited (“HDFC Ergo”) from Larsen and Toubro (L&T). (...)

The German Competition Authority issues its preliminary assessment concerning a merger in the food retail market (Rewe / Coop)
German Competition Authority (Bonn)
Bundeskartellamt issues preliminary assessment of the planned Rewe/Coop merger* In response to enquiries the Bundeskartellamt confirms that on 25.07.2016 it sent the parties concerned in the Rewe/Coop merger control proceedings its draft decision in the matter. In addition to the parties to (...)

The US FTC requires divestitures in many local markets (Ahold / Delhaize)
Dechert (Washington)
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Dechert (Washington)
FTC Requires Divestitures in Ahold/Delhaize of 81 Stores and Gives Upfront Buyers More Time to Complete Acquisitions; Continues Focus on "Traditional Supermarket" Competition Key Points: The U.S. Federal Trade Commission (FTC) required divestitures in many local markets in Ahold/Delhaize (...)

The EU Commission clears a merger, subject to remedies, on the markets for satellites and launch services (Arianespace / ASL)
DG COMP (Brussels)
Mergers: Commission approves acquisition of Arianespace by ASL, subject to conditions* Following an in-depth review, the European Commission has approved under the EU Merger Regulation, the acquisition of Arianespace by Airbus Safran Launchers (ASL), a joint venture between Airbus and Safran. (...)

The European Commission conditionally clears an acquisition in market for satellite launch services (Arianespace / ASL)
Van Bael & Bellis (Brussels)
On 20 July 2016, the European Commission conditionally cleared the acquisition of Arianespace by Airbus Safran Launchers (“ASL”). Arianespace is a French company offering satellite launch services to private and institutional satellite operators. ASL is a 50/50 joint venture controlled by Airbus (...)

The French Competition Authority clears a merger, subject to remedies, on the market of retail of cultural and electronic products (Fnac / Darty)
French Competition Authority (Paris)
Retailing of "brown" and "grey" products* The Autorité de la concurrence clears, subject to the divestiture of 6 stores in Paris and the Parisian region, the acquisition of the Darty company by the Fnac group On 17 February 2016, the Fnac group notified its project to take over Darty to the (...)

The US Department of Justice fines an activist investor for a record $11 million for violations of the HSR Act (ValueAct)
Simpson Thacher & Bartlett (New York)
,
Office of the New York State Attorney General (New York)
On July 12, 2016, the US Department of Justice (“DOJ”) announced that activist investor ValueAct Capital agreed to pay a record $11 million fine and also agreed to injunctive relief to settle allegations that ValueAct violated the Hart-Scott-Rodino Antitrust Improvements Act of 1976, 15 U.S.C. § (...)

The EU Commission clears a merger subject to remedies in the market for the production and supply of plastic bumpers (Plastic Omnium / Faurecia)
DG COMP (Brussels)
Mergers: Commission clears acquisition of an automotive component business of Faurecia by Plastic Omnium, subject to conditions* The Commission has cleared under the EU Merger Regulation the proposed acquisition of the automotive plastic exterior component business of Faurecia by Compagnie (...)

The EU Commission clears acquisition between two automotive component manufacturers in the markets for plastic front bumpers, rear bumpers, and front end modules (FEM), subject to conditions (Plastic Omnium / Faurecia Exterior Automotive Business)
DG COMP (Brussels)
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DG COMP (Brussels)
,
DG COMP (Brussels)
Plastic Omnium/Faurecia Exterior Business: The use of delivery distances in defining the geographic market and how supplyside concentration cancels out buyer power* In a nutshell: An in-depth assessment of the customers’ sourcing behaviour and of the Parties delivery distance allowed the (...)

The Hellenic Competition Authority clears, subject to remedies, a merger on the market for the provision of stevedoring and storage of domestic containerized cargo services (Cosco / Piraeus Port Authority)
Hellenic Competition Authority (Athens)
Clearance of the proposed acquisition by COSCO (HONG KONG) GROUP LIMITED of sole control over PIRAEUS PORT AUTHORITY S.A. subject to conditions* The Hellenic Competition Commission (HCC) has cleared today the notified concentration between PIRAEUS PORT AUTHORITY S.A. (PPA S.A.) and COSCO (HONG (...)

The UK Competition and Markets Authority orders divestment of Scottish assets following a merger (Iron Mountain / Recall)
Van Bael & Bellis (Brussels)
On 16 June 2016, the UK’s Competition and Markets Authority (“CMA”) published its final report into Iron Mountain’s acquisition of Recall, following a six-month in-depth phase II investigation. Both companies are active in records and information management services (“RIMS”). The CMA con- cluded (...)

The French Competition Authority refuses to lift the ban on exclusive broadcasting of premium sports channels pronounced against a pay TV channel (Canal Plus)
French Competition Authority (Paris)
The Autorité de la concurrence considers that the conditions are not currently satisfied to lift the ban on exclusive broadcasting of premium sports channels pronounced on Canal Plus. * The Autorité will engage, during the upcoming twelve months, in an in-depth work in dialogue with all the (...)

The UK Competition Authority opens an in-depth investigation regarding a merger in the market of brokerage of oil products (Tullett / ICAP)
British Competition Authority - CMA (London)
Broker merger faces an in-depth investigation* Tullett’s anticipated acquisition of ICAP’s voice/hybrid broking business faces being referred for an in-depth investigation by the CMA. Tullett Prebon plc (Tullett) and ICAP plc (ICAP) are leading global interdealer brokers, companies that (...)

The EU Commission clears a merger subject to remedies in the market of building materials (Italcementi / HeidelbergCement)
DG COMP (Brussels)
Mergers: Commission approves acquisition of building materials group Italcementi by HeidelbergCement, subject to conditions* The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Italian building materials group Italcementi by its German competitor (...)

The EU Commission clears acquisition between two global building materials companies active in the cement markets, subject to divestment of geographically overlapping business (HeidelbergCement / Italcementi)
Freshfields Bruckhaus Deringer (Brussels)
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DG COMP (Brussels)
HeidelbergCement/Italcementi: Let’s get concrete…* In a nutshell: Two global cement players merged and although their footprint in Europe is rather complementary, their activities overlapped to a great extent in Belgium in a number of markets. In order to remedy the serious doubts in first (...)

The EU Commission clears a merger subject to remedies in the European beer market (AB InBev / SABMiller)
Van Bael & Bellis (Brussels)
On 24 May 2016, the Commission cleared the proposed acquisition of SABMiller, the world’s second largest brewer, by AB InBev, the world’s largest brewer. AB Inbev’s brands include Corona, Stella Artois and Budweise. SABMiller owns brands such as Miller, Peroni, Pilsner Urquell and Grolsch. The (...)

The EU Commission clears acquisition between two largest global brewers, respectively third and fourth in Europe, subject to conditions (AB InBev / SABMiller)
DG COMP (Brussels)
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DG COMP (Brussels)
ABI/SAB: The emergence of a global beer giant and its challenges for merger review* In a nutshell In May this year, the European Commission approved the acquisition of SABMiller by Anheuser-Busch InBev subject to conditions. The Commission found in its phase I investigation that the (...)

The Indian Competition Authority approves acquisition of film exhibition business by a cinema theatre company subject to conditions (PVR / DUL)
Vaish Associates, Advocates (New Delhi)
CCI approves PVR’s acquisition of DLF’s cinema exhibition business with modifications* CCI, by its order dated May 04, 2016, has approved acquisition of DLF’s film exhibition business, subject to modifications. The proposed combination relates to acquisition by PVR of DLF Utilities Limited (DUL) (...)

The French Competition Authority clears a merger, subject to remedies, on the smoked trout market (Aqualande Group / Labeyrie)
French Competition Authority (Paris)
The Autorité de la concurrence clears the acquisition of joint control of the Aqualande Group by Labeyrie together with the agricultural cooperative Les Aquaculteurs Landais, subject to commitments* On 21 January 2016, Labeyrie and Les Aquaculteurs Landais notified the Autorité de la concurrence (...)

The EU Commission conditionally approves a merger subject to divestment commitments and behavioural conditions in the payment services and terminals sector (Equens / Worldline)
Van Bael & Bellis (Brussels)
On 20 April 2016, the European Commission (“Commission”) approved the acquisition by Worldline of Equens (and its subsidiary PaySquare) under the EU Merger Regulation, subject to divestment commitments and behavioural conditions. Worldline is the incumbent operator of payment services and (...)

The French Competition Authority fines a mobile phone company for non-compliance with some of its merger remedies (SFR / Numéricable)
French Competition Authority (Paris)
Overseas Mobile Telephony* The Autorité de la concurrence fines Altice/Numericable group for non-compliance with some of the commitments linked to the divestiture of Outremer Telecom’s mobile telephony business made at the time of its acquisition of SFR. Having observed the non-compliance by (...)

The Finnish Competition Authority clears a merger subject to remedies on the food retail market (Kesko Food / Suomen Lähikauppa)
Finnish Competition and Consumer Authority (Helsinki)
FCCA to approve a merger between Kesko Food and Suomen Lähikauppa, subject to conditions* The Finnish Competition and Consumer Authority (FCCA) has approved Kesko Food Ltd’s acquisition of Suomen Lähikauppa Oy, subject to certain conditions. The conditions imposed by the FCCA are an obligation to (...)

The Belgian Competition Authority clears a merger subject to remedies in the market of multiplex cinemas (Kinepolis / Utopolis)
Belgian Competition Authority (Brussels)
The Belgian Competition Authority (BCA) has approved with remedies the acquisition by Kinepolis of two of the four multiplex cinemas of Utopolis* The Competition College of the Belgian Competition Authority has approved on 25 March 2016 the acquisition by Kinepolis of two of the four Utopolis (...)

The EU Commission clears a merger subject to remedies in the retail and wholesale fuels markets (Statoil Fuel / Shell)
DG COMP (Brussels)
Mergers: Commission approves Statoil Fuel and Retail’s takeover of Shell’s Dansk Fuels, subject to conditions* The European Commission has approved under the EU Merger Regulation the proposed acquisition of Shell’s Danish retail and wholesale fuels business, Dansk Fuels, by Alimentation (...)

The Belgian Competition Authority clears a merger, subject to remedies, in the food retail market (Ahold / Delhaize)
Belgian Competition Authority (Brussels)
The Competition College of the BCA has authorised the merger of Ahold and Delhaize with remedies* The Competition College of the Belgian Competition Authority has authorised on the 15th of March 2016 the merger of Delhaize SA and Royal Ahold NV with the remedies proposed by the parties. The (...)

The Belgian Competition Authority approves acquisition subject to remedies in the food retail market (Delhaize / Ahold)
Van Bael & Bellis (Brussels)
On 15 March 2016, the Competition College of the Belgian Competition Authority (“BCA”) approved the acquisition of Delhaize Group by Ahold, subject to a number of conditions. Delhaize (Belgium) and Ahold (The Netherlands) are two major food retailers active in their home countries as well as in (...)

The EU Commission clears acquisition of fourth largest global manufacturer of generic medicines by the largest global competitor, subject to complex remedies and monitoring, including addressing concerns about vertical relationships between parties for the first time in a generics merger (Teva / Allergan Generics)
DG COMP (Brussels)
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DG COMP (Brussels)
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DG COMP (Brussels)
Teva/Allergan Generics: An unprecedented generics merger* In a nutshell While the Commission has had significant experience dealing with mergers in the generic medicines industry, the sheer scale of Teva/Allergan Generics, combining two of the top four players globally, posed a number of (...)

The EU Commission approves a merger after an in-depth investigation and subject to a divestment (Staples / Office Depot)
DG COMP (Brussels)
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DG COMP (Brussels)
,
DG COMP (Brussels)
1. Introduction On 10 February 2016, the European Commission (the Commission) conditionally approved the acquisition of Office Depot by its rival Staples. Both companies are US-based global suppliers of stationery and other office products to private consumers and businesses. The Commission (...)

The EU Commission clears acquisition of global office supplies company by its leading competitor, subject to conditions, but the acquisition is subsequently rejected by U.S. Federal Trade Commission (Staples / Office Depot)
DG COMP (Brussels)
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DG COMP (Brussels)
,
DG COMP (Brussels)
Staples/Office Depot: House of Paper* In a nutshell: In February this year, the European Commission approved the acquisition of Office Depot by Staples. Three months later, the US District Court for the District of Columbia granted the FTC’s request for a preliminary injunction to block the (...)

The EU Commission conditionally approves a merger in the telecommunications sector (Liberty Global’s / BASE)
Van Bael & Bellis (Brussels)
On 4 February 2016, the European Commission conditionally approved the acquisition of Belgian mobile network operator (“MNO”) BASE by Liberty Global, which controls the Belgian telecommunications operator and mobile virtual network operator (“MVNO”) Telenet. Telenet has a significant position in a (...)

The EU Commission approves acquisition of a mobile network operator by virtual mobile network operator, subject to fix-it-first remedies (Liberty Global / BASE)
DG COMP (Brussels)
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DG COMP (Brussels)
,
DG COMP (Brussels)
Liberty Global/BASE: Fixing it first in the Belgian mobile market* In a nutshell: Liberty Global/BASE entailed the acquisition of a mobile network operator by a mobile virtual network operator. The transaction prompted an in-depth investigation and was ultimately cleared with a fix-it-first (...)

The UK Competition Authority accepts a remedy concerning a merger in the serviced office space market (Regus / Avanta)
British Competition Authority - CMA (London)
CMA accepts remedy in serviced office space merger* The Competition and Markets Authority has today accepted a remedy to resolve competition concerns arising from Regus’ acquisition of Avanta. The Competition and Markets Authority (CMA) announced on 18 November 2015 that it would consider in (...)

The EU Commission corrects second time around a merger decision in the publishing sector after a defect was raised by the ECJ (Editions Odile Jacob)
McDermott Will & Emery (Paris)
As a general proposition, when the validity of a European Commission antitrust decision is challenged before the General Court of the European Union (GCEU), the procedure is one of judicial review, not a retrial on the merits (although the GCEU does have special jurisdiction to increase or (...)

The EU Commission clears a merger subject to remedies on the market of beverage can manufacturing (Ball / Rexam)
DG COMP (Brussels)
Mergers: Commission approves Ball’s acquisition of Rexam, subject to conditions* Following an in-depth review, the Commission has approved under the EU Merger Regulation the acquisition of beverage can manufacturer Rexam by rival Ball, subject to the divestment of 12 plants in the EEA. Ten of (...)

The EU Commission clears acquisition of global number 2 beverage can manufacturer by global number 1, subject to divesting almost the entire business overlap in Europe (Ball / Rexam)
DG COMP (Brussels)
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DG COMP (Brussels)
,
DG COMP (Brussels)
Ball/Rexam: The beverage can merger – keeping an eye on the Ball* In a nutshell: In January 2016, the Commission cleared the acquisition of the global #2 beverage can manufacturer Rexam by the global #1 Ball, subject to the divestiture of nearly the whole overlap in Europe. A key feature of the (...)

The Competition Commission of India updates its Merger Regulations
Shardul Amarchand Mangaldas & Co (New Delhi)
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Shardul Amarchand Mangaldas & Co (New Delhi)
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Shardul Amarchand Mangaldas & Co (New Delhi)
The Indian merger control regime under the Competition Act, 2002 has been in force for nearly five years. In addition to the statutory provisions, the Combination Regulations were introduced by the Competition Commission of India in 2011 . These Regulations contain detailed rules on (...)

The UK Competition Authority opens an in-depth investigation regarding a merger in the computer-based testing sector after considering proposed remedies to be insufficient (Pearson / Learndirect)
British Competition Authority - CMA (London)
CMA refers computer-based testing merger for in-depth investigation* The CMA has referred Pearson VUE’s anticipated acquisition of learndirect’s computer-based testing business for a phase 2 investigation. Earlier this month, the Competition and Markets Authority (CMA) said that it would refer (...)

The French Competition Authority clears, subject to remedies, a merger in the fast food market (Quick / Burger King)
French Competition Authority (Paris)
The Autorité de la concurrence clears the acquisition of Quick by Burger King, subject to commitments.* On 4 November 2015, Burger King France notified to the Autorité de la concurrence the acquisition of sole control of the Quick group. Burger King France operates a network of thirty (...)

The Italian Competition Authority conditionally clears a merger between two major ferry operators (Onorato Partcipazioni-Newco / Moby-Compagnia Italiana di Navigazione)
Desogus Law Office (Cagliari)
Introduction By the decision made on 10 December 2015 in Onorato Partcipazioni-Newco/Moby-Compagnia Italiana di Navigazione (OP/Moby-CIN), the Italian Competition Authority (ICA) has conditionally cleared a concentration involving two major ferry operators active on maritime routes connecting (...)

The EU Commission clears a merger, subject to remedies, on the market of chemicals for the mining industry (Solvay / Cytec)
DG COMP (Brussels)
The EU Commission clears a merger, subject to remedies, on the market of the chemicals for the mining industry (Solvay / Cytec)* The European Commission has approved under the EU Merger Regulation the proposed acquisition of Cytec by Solvay. The decision is conditional on Solvay’s divestment (...)

The Chinese MOFCOM approves a merger in the semiconductor industry subjecting it to a fix-it first remedy (NXP / Freescale)
University of Melbourne
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China Competition Bulletin (Beijing)
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Hogan Lovells (Beijing)
NXP’s acquisition of Freescale was conditionally approved by the MOFCOM on 27 November 2015. Both companies are major players in the semiconductor industry. The notification was first accepted in May 2015 and review had entered extended phase 2, but the notification was withdrawn and then (...)

The EU Commission approves the acquisition of a data centre operator by rival subject to the divestment of a number of data centres in Amsterdam, London and Frankfurt (Telecity / Equinix)
DG COMP (Brussels)
Mergers: Commission clears acquisition of Telecity by Equinix, subject to conditions* The European Commission has approved the proposed acquisition of data centre operator Telecity by rival Equinix subject to the divestment of a number of data centres in Amsterdam, London and Frankfurt. The (...)

The Italian Competition Authority clears a merger between media operators by imposing a divestiture remedy (Libero Acquisition / Seat Pagine Gialle)
Desogus Law Office (Cagliari)
By a decision made on 11 November 2015 the Italian Competition Authority (ICA) has closed a II-phase investigation into the proposed acquisition of Seat Pagine Gialle (Seat) by Libero Acquisition (Libero) in the Libero Acquisition/Seat Pagine Gialle case . The merging parties were media (...)

The EU Commission approves the creation of a joint venture between two of the world’s leading coffee manufacturers, subject to conditions (DEMB / Mondelēz)
DG COMP (Brussels)
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DG COMP (Brussels)
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DG COMP (Brussels)
"Some like it hot! – coffee merger between DEMB and Mondelēz"* In a nutshell Coffee products belong to a differentiated market where the evaluation of closeness of competition is key to the competitive assessment. Internal documents, views of market participants and economic analysis (...)

Merger remedies and competition law: An overview of EU and national case law
Këllezi Legal (Geneva)
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Lachenal & Lefort
Remedies are an important tool for competition authorities in merger control. In most jurisdictions, prohibitions can be avoided by crafting remedies able to resolve competition law concerns. The design and implementation of merger remedies have evolved during the last two decades. Merger (...)

Merger Remedies: An overview of EU and national case law
Quinn Emanuel Urquhart & Sullivan (Brussels)
,
DG COMP (Brussels)
Introduction If a competition authority considers that a transaction it is reviewing will have a sufficiently negative effect on competition “a significant impediment to effective competition” to borrow the language of the European Commission, the authorities and the companies together reach a (...)

The UK Competition Authority removes several structural merger undertakings given before 1 January 2005 concerning eleven cases
British Competition Authority - CMA (London)
CMA presses on with remedies removal* The CMA is continuing its drive to ensure that its remedies do not stay in place longer than needed. As part of a series of such reviews, the Competition and Markets Authority (CMA) has looked at remedies resulting from 13 merger investigations and (...)

The French Competition Authority opens ex officio proceedings to review whether a internet provider has respected its merger remedies (SFR / Bouygues Telecom)
French Competition Authority (Paris)
SFR/Bouygues Telecom agreement to deploy fibre in very densely populated areas* Following a complaint made by Bouygues Telecom, the Autorité de la concurrence has opened ex officio proceedings to review the conditions under which Numericable complies with its commitments made in relation to the (...)

The Mexican Competition Authority clears a merger subject to remedies in the supermarkets retail sector (Soriana / Comercial Mexicana)
Mexican Competition Authority (Mexico city)
COFECE conditions concentration1 between Soriana and Comercial Mexicana* Mexico City, October 8th 2015. - The Mexican Federal Competition Commission (COFECE) decided to challenge the concentration between Organización Soriana (Soriana) and Controladora Comercial Mexicana (CCM) in the terms in (...)

The Croatian Competition Authority acknowledges implementation of the structural divestment remedies and the conduct behavioural remedies imposed to a merger in the retail sector (Agrokor)
Croatian Competition Agency (Zagreb)
Agrokor complies with its commitment to divest its outlets under the decision of the CCA* The Croatian Competition Agency (CCA) accepted the second report of the trustee on the implementation of the structural divestment remedies and the conduct (behavioural) remedies in the concentration (...)

The UK Competition Authority considers merger remedies proposed by a supplier of legal information (Reed Elsevier / Jordan Publishing)
British Competition Authority - CMA (London)
CMA considers remedies in family law information merger* The CMA has decided to consider in detail whether to accept remedies offered by Reed Elsevier (UK) Limited. Earlier this month, the Competition and Markets Authority (CMA) announced that it would refer the anticipated acquisition by (...)

The French Competition Authority clears a merger subject to remedies on the hearing aid products market (Audika / William Demant)
French Competition Authority (Paris)
The Autorité de la concurrence clears, subject to commitments, the acquisition of Audika by William Demant.* On 28 May 2015, the William Demant group notified the Autorité de la concurrence of the acquisition of sole control of the Audika group. William Demant, one of the main manufacturers of (...)

The EU Commission clears a merger subject to remedies in the radio frequency power transistors market (NXP / Freescale)
DG COMP (Brussels)
Mergers: Commission approves NXP’s acquisition of Freescale, subject to conditions* The European Commission has approved the acquisition of Freescale by NXP, subject to divestment of NXP’s radio frequency power business, where the takeover could have led to higher prices and less competition. (...)

The EU Commission clears acquisition of global semiconductor manufacturer, subject to divestment of its radio frequency power business (NXP / Freescale)
DG COMP (Brussels)
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DG COMP (Brussels)
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DG COMP (Brussels)
NXP / Freescale: global remedies in a 3 to 3 semiconductor merger* In a nutshell: The case concerned the combination of two major semiconductor manufacturers active worldwide, which was reviewed in several jurisdictions. The Commission cooperated particularly closely with the US FTC to ensure (...)

The EU Commission clears a global energy leader’s biggest industrial acquisition of third largest competitor, subject to divesting part of the gas business to fifth largest competitor, and other remedies (General Electric / Alstom)
DG COMP (Brussels)
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DG COMP (Brussels)
,
DG COMP (Brussels)
General Electric / Alstom: our heavy duty* In a nutshell: The GE/Alstom merger raised concerns in relation to the supply of Heavy Duty Gas Turbines, which are expected to play an important role in the coming decades in the European energy mix. The case is interesting amongst other factors (...)

Merger Remedies: An overview of EU and national case law
Queen Mary University (London)
When a concentration has a significant negative effect on effective competition in the market, parties may propose remedies (or in some jurisdictions remedies can be imposed by National Competition Authorities – NCAs) to eliminate these effects and thus to get clearance. Remedies is an (...)

The German Competition Authority clears a merger, subject to remedies, in the market of automotive spare parts (Trost Auto Service Technik / Wessels & Müller)
German Competition Authority (Bonn)
Merger of wholesalers of automotive spare parts cleared subject to conditions precedent* fter an in-depth examination the Bundeskartellamt has cleared the acquisition of Trost Auto Service Technik SE, Stuttgart, by Wessels & Müller SE, Osnabrück, subject to conditions. Both companies sell (...)

The UK Competition Authority imposes remedies to clear an acquisition in the market of personal lubricants (Reckitt Benckiser / Johnson & Johnson)
British Competition Authority - CMA (London)
CMA orders remedy to meet concern over lubricants merger* The CMA has found that Reckitt Benckiser’s anticipated acquisition of the K-Y brand could lead to higher prices for personal lubricants. In its final report published today, the Competition and Markets Authority (CMA) has concluded the (...)

The UK Competition Authority orders licensing remedy to meet concerns over horizontal unilateral effects resulting from a merger in the personal lubricants market (Reckitt Benckiser / Johnson & Johnson)
Herbert Smith Freehills (Brussels)
Introduction and background On 4 November 2015, the UK Competition and Markets Authority ("CMA") accepted final undertakings from Reckitt Benckiser Group plc ("RB") and Johnson & Johnson ("J&J") in relation to RB’s proposed acquisition from J&J of the K-Y brand of personal lubricant (...)

The Belgian Competition Authority approves several acquisitions, subject to remedies, in the publishing market (De Persgroep / Humo)
Belgian Competition Authority (Brussels)
The Competition College of the Belgian Competition Authority has approved on 4 August 2015 the acquisition of Humo NV (publishers of the magazine Humo) and of the magazines Story, Teve-blad, and Vitaya by De Persgroep Publishing NV (publishers of newspapers and magazines with interests in (...)

The Belgian Competition Authority conditionally approves merger in highly concentrated print magazines market (De Persgroep / Humo)
Simmons & Simmons (Brussels)
Conditional approval of media merger defuses the risk of four popular Dutch language magazines disappearing from the Belgian market. On 04 August 2015, and in the context of a Phase I procedure, the Competition College of the Belgian Competition Authority conditionally approved the acquisition (...)

The EU Commission clears acquisition of pharmaceutical company, with effects in the market for biosimilars, subject to remedies that ensure innovation competition (Pfizer / Hospira)
DG COMP (Brussels)
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DG COMP (Brussels)
Pfizer / Hospira: Through the lookingglass: assessing competition by biosimilars* In a nutshell In Pfizer/Hospira, the Commission assessed biosimilar drugs in detail for the first time. Biosimilars aim to have the same therapeutic mechanism as, and be clinically equivalent to, original (...)

The EU Commission clears a merger, subject to remedies, in the market of industrial chocolate (ADM / Cargill)
DG COMP (Brussels)
Commission approves Cargill’s acquisition of ADM’s industrial chocolate business, subject to conditions* The European Commission has approved under the EU Merger Regulation the proposed acquisition of the industrial chocolate business of Archer Daniels Midland (’ADM’) by Cargill, subject to (...)

The UK Competition Authority decides to open an in-depth investigation in the market of processing of animal by-products in an effort to obtain acceptable remedies (Linergy / UFBP)
British Competition Authority - CMA (London)
Rendering merger faces in-depth investigation unless undertakings offered* Linergy’s acquisition of Ulster Farm By-Products will be referred for an in-depth phase 2 investigation unless acceptable undertakings are offered. The Competition and Markets Authority (CMA) has found that the (...)

The Italian Competition Authority conditionally clears a concentration between two regional energy firms (Energia Alto Adige)
Desogus Law Office (Cagliari)
By a decision made on 15 July 2015 the Italian Competition Authority (ICA) has conditionally cleared a concentration between two publicly held regional energy firms, Società Elettrica Altoatesina (SEL) and Azienda Energetica (AE), operating in the North-east of Italy in the province of Bolzano. (...)

The Italian Competition Authority conditionally clears a baby products merger (Enrico Preziosi-Artsana / Newco-Bimbo Store)
Desogus Law Office (Cagliari)
In Baby Products by a decision made on 9 July 2015 the Italian Competition Authority (ICA) has conditionally cleared a merger between retailers of baby products (Case C11982, Enrico Preziosi-Artsana/Newco-Bimbo Store) . The ICA started a phase II investigation into the notified merger since it (...)

The Danish Competition Authority clears a merger, with structural remedies proposed by the undertaking itself, in the market for poultry feed (Danish Agro)
Danish Competition and Consumer Authority (Copenhagen)
Divestment of production facilities proves necessary for the approval of agricultural inputs merger* Danish Agro commits itself to divest two production facilities to receive the approval of the merger with Dan Agro, which owns Hedegaard Agro. The merger was approved by the Danish Competition (...)

The EU Commission approves a joint venture for cross-border licensing of online music between three music collecting societies (PRSfM / STIM / GEMA)
DG COMP (Brussels)
Commission approves joint venture for cross-border licensing of online music between PRSfM, STIM and GEMA, subject to commitments* Following an in-depth investigation, the European Commission has approved under the EU Merger Regulation the proposed creation of a joint venture for (...)

The EU Commission conditionally approves online rights licensing and administration joint venture between collective management organisations (PRSfm / STIm / GEmA)
Van Bael & Bellis (Brussels)
On 16 June 2015, the EU Commission conditionally approved the proposed joint venture between music collective management organisations PRS for music Limited (“PRSfm”) of the UK, Föreningen Svenska Tonsättares Internationella musikbyrå u.p.a. (“STIm”) of Sweden, and Gesellschaft für musikalische (...)

The French Competition Authority approves the sale of an oversea telecom company, a mandatory condition to clear a merger in the market of mobile telephony (SFR / Numéricable)
French Competition Authority (Paris)
Acquisition of SFR by Numericable: France’s Competition authority and ARCEP approve the sale to the firm Hiridjee of the Outremer Telecom mobile operations that Numericable agreed to divest in La Réunion and Mayotte* On 30 October 2014, the Autorité de la concurrence approved the sale of SFR to (...)

The EU Commission approves acquisition of a life science company affecting the markets for laboratory chemicals, subject to remedies (Merck / Sigma-Aldrich)
DG COMP (Brussels)
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DG COMP (Brussels)
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DG COMP (Brussels)
Merck/Sigma-Aldrich: the 200,000 products case* In a nutshell: In the life science case Merck/Sigma-Aldrich, the Commission focused for the first time on "laboratory chemicals", a term that covers hundreds of thousands of specialty chemicals. The Commission identified concerns regarding the (...)

The Belgian Competition Authority lifts four-year old merger conditions from the conditional approval of an acquisition (Proximus / The Phone House)
Van Bael & Bellis (Brussels)
On 8 June 2015, the Belgian Competition Authority (BCA) lifted four-year old merger conditions from the BCA’s conditional approval of the acquisition by telecommunications operator Proximus (formerly Belgacom) of telecommunications retailer The Phone House. In 2011, the BCA’s predecessor agency, (...)

The French Competition Authority clears a merger, subject to remedies in the regional daily press market (Les Journaux du Midi / La Dépêche du Midi)
French Competition Authority (Paris)
The Autorité de la concurrence clears, subject to conditions, the acquisition of Les Journaux du Midi by La Dépêche du Midi.* The La Dépêche du Midi Group is mainly active in the South/South-West of France, with the publication of the following regional daily press titles: La Dépêche du Midi, La (...)

The Mexican Competition Authority clears a merger, subject to remedies, in the cut bond paper market (Bio Pappel / Scribe)
Mexican Competition Authority (Mexico city)
COFECE conditions merger between Bio Pappel and Scribe* The Mexican Federal Economic Competition Commission (COFECE) accepted commitments presented by Bio Pappel Group to merge with Scribe Corporation. COFECE deemed these commitments would avoid risks to competition and free market access in (...)

The UK Competition and Markets Authority reviews a merger remedy in the market of media related services (GTCR Canyon / Gorkana)
British Competition Authority - CMA (London)
CMA consults on GTCR proposed undertaking* The CMA is consulting on a proposed undertaking in lieu of a reference in relation to GTCR’s acquisition of Gorkana Group. In April, the Competition and Markets Authority (CMA) announced it would consider in detail an undertaking proposed by GTCR (...)

The Japan Fair Trade Commission clears, subject to remedies, a merger in the market of manufacture and retail of paper and pulp products (Chuetsu / Oji)
Japan Fair Trade Commission (Tokyo)
The JFTC Reviewed the Proposed Acquisition of Shares of Chuetsu Pulp & Paper Co., Ltd. by Oji Holdings Corporation* Receiving notification regarding the proposed acquisition of shares of Chuetsu Pulp & Paper Co., Ltd. (hereinafter referred to as “Chuetsu”) by Oji Holdings Corporation (...)

The EU Commission approves an acquisition in the telecommunications sector after a lengthy Phase II investigation and subject to extensive commitments (Orange / Jazztel)
Van Bael & Bellis (Brussels)
On 19 May 2015, the European Commission conditionally approved the acquisition of Jazztel by rival telecommunications provider Orange. The approval, after a lengthy Phase II investigation including a Statement of Objections issued in February, is subject to extensive commitments to facilitate a (...)

The EU Commission clears a merger subject to remedies in the retail markets involving fixed internet access services (Orange / Jazztel)
DG COMP (Brussels)
Commission clears acquisition of Jazztel by Orange, subject to conditions* The European Commission has approved under the EU Merger Regulation the proposed acquisition of Jazztel plc, a telecommunications company registered in the UK but mainly active in Spain, by rival Orange SA of France. (...)

The French Competition Authority clears a merger subject to remedies between two gas providers in the intermediate and large-bulk LPG market (Totalgaz / UGI France)
French Competition Authority (Paris)
The Autorité de la concurrence clears, subject to conditions, the acquisition of Totalgaz by UGI France, the parent company of Antargaz.* Among the commitments discussed and negotiated with the Autorité, UGI shall, in particular, be obliged to divest its stakes in the capital of several LPG (...)

The Indian Competition Authority approves a takeover of global HVAC business by competitor, subject to conditions (Johnson Controls / Hitachi Appliances)
Vaish Associates, Advocates (New Delhi)
CCI approves combination proposed by Johnson Control Inc.* CCI vide its order dated May 7, 2015 approved the combination between Johnson Control Inc. (JCI), Hitachi Ltd. (Hitachi), and Hitachi Appliances, Inc. (HA). The proposed combination entails the acquisition of worldwide building (...)

The US DOJ blocks a merger between two semiconductor equipment suppliers because the combination would have threatened to diminish innovation (AMAT / TEL)
Doyle, Barlow & Mazard (Washington DC)
Mergers That Diminish Innovation Present Deal Risk* On April 27, 2015, the Department of Justice’s (“DOJ”) Antitrust Division released a statement regarding Applied Materials Inc. (“AMAT”) and Tokyo Electron’s (“TEL”) joint announcement that they abandoned their merger. The Antitrust Division’s (...)

The Finnish Competition and Consumer Authority lifts certain remedies imposed on a dairy processor and manufacturer in two earlier merger clearance decisions (Valio)
Merilampi Attorneys (Helsinki)
On 23 April 2015, the Finnish Competition and Consumer Authority (“FCCA”) issued a decision accepting Valio Oyj’s (“Valio”) application to lift certain conditions imposed on Valio in two earlier merger clearance decisions (Case No 1151/81/99 acquisition of the regional dairies Osuuskunta (...)

The Spanish Competition Authority clears the acquisition of the first national pay-tv provider by a direct competitor (Telefónica / DTS)
Linklaters (Madrid)
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Linklaters (Madrid)
1 Introduction On 22 April 2015, seven months after it was notified of the incumbent telecoms operator Telefónica’s acquisition of sole control of Distribuidora de Televisión Digital, S.A. (“DTS”), the National Markets and Competition Authority (“CNMC”) cleared the deal subject to commitments . (...)

The Finnish Competition Authority clears a merger subject to remedies in the telephone and data communications services markets (Elisa Oyj / Anvia Oyj)
Finnish Competition and Consumer Authority (Helsinki)
The Finnish Competition and Consumer Authority (FCCA) gives conditional acceptance of acquisition of Anvia by Elisa* The FCCA has today accepted conditionally the transaction whereby Elisa Oyj will gain control over Anvia Oyj. The conditions relate to broadband services on a landline network (...)

The Competition Commission of India imposes a structural remedy while approving an acquisition agreement between two multinational cement firms (Holcim / Lafarge)
University of Delhi (New Delhi)
In a recent decision (technically known as an ‘Order’), delivered on 30 March 2015, the Competition Commission of India (CCI) approved an agreement whereby the multinational cement manufacturer Holcim would acquire all the outstanding shares of another large cement multinational, Lafarge. India’s (...)

The Competition Commission of India approves a merger subject to remedies between two global players in the business of manufacture and retail of cement (Holcim / Lafarge)
Lakshmikumaran & Sridharan (New Delhi)
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Lakshmikumaran & Sridharan (New Delhi)
Introduction Following one year of rigorous investigation and review process, the Competition Commission of India (CCI) approved the Holcim-Lafarge merger on 30 March, 2015 . CCI granted the final approval subject to the incorporation of certain remedies to the proposed merger. The merger (...)

The EU Commission conditionally clears a merger following an in-depth investigation (Zimmer / Biomet)
DG COMP (Brussels)
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DG COMP (Brussels)
Introduction On 30 March 2015, the European Commission conditionally cleared Zimmer’s acquisition of Biomet, following an in-depth investigation. Zimmer and Biomet are two of the five leading competitors in the medical implants industry. The transaction was initially notified on 3 June 2014, (...)

The US DOJ obtains disgorgement of profits for illegally consummated merger in the sector of city sightseeing by bus (Coach USA, City Sights, Twin America)
Doyle, Barlow & Mazard (Washington DC)
DOJ Obtains Disgorgement of Profits for Illegally Consummated Merger* On March 16, 2015, the Department of Justice (“DOJ”) and New York State Attorney General announced that they reached a settlement with Coach USA Inc., City Sights LLC and their joint venture, Twin America LLC, to remedy (...)

The Polish Competition Authority accepts several merger remedies and clears two acquisitions in the sector of grocery stores (Auchan)
Polish Competition Authority (Warsaw)
Auchan to implement conditions, Proceed with merger* Poland’s Office of Competition and Consumer Protection (UOKiK) has approved two transactions that will allow Auchan Polska to implement the conditions required for it to proceed with its acquisition of the Real company. Both mergers involve (...)

The Canadian Competition Bureau clears a transaction in the media sector revealing a possible shift in the Bureau’s analytical framework for media mergers (TVA Group / Transcontinental)
Stikeman Elliott (Toronto)
Media mergers and the Competition Bureau: Is the medium the market?* The rapid growth of digital media in recent years and the simultaneous pressures on traditional media have led to a number of fascinating media transactions in which the Competition Bureau has had to confront the difficult (...)

The Pakistan Competition Commission clears a merger, subject to remedies, in the pharmaceutical sector (Novartis / GlaxoSmithKline)
Competition Commission of Pakistan (Islamabad)
CCP approves acquisition of global vaccine business (excluding influenza business except in China) by GSK from Novartis* The Competition Commission of Pakistan (CCP) has approved acquisition of the global vaccines business (excluding influenza business except in China) of Novartis AG by (...)

The EU Commission conditionally clears the acquisition of a media company by a competitor (De Vijver Media / Liberty Global)
Ashurst (Milan)
European Commission clears acquisition of Belgian media company by Liberty Global subject to commitments* Last 24 February the European Commission cleared Liberty Global’s acquisition of a controlling stake in the Belgian media company De Vijver Media NV (“De Vijver”), subject to commitments. (...)

The Irish Competition Commission issues details of the merger remedies taken by an undertaking acting in the retail sector (Valeo Foods / Wardell Roberts)
Irish Competition Authority (Dublin)
Commission publishes details of the binding divestiture commitments by Valeo Foods UK Limited* On 17 February the Competition and Consumer Protection Commission (the Commission) cleared the proposed acquisition by Valeo Foods UK Limited (Valeo) of sole control of Wardell Roberts Limited and (...)

The Irish Competition Commission clears a merger, subject to remedies, in the retail market (Valeo Foods / Wardell Roberts)
Irish Competition Authority (Dublin)
Commission approves proposed acquisition by Valeo Foods UK Limited of sole control of Wardell Roberts Limited and Robert Roberts (NI) Limited, subject to binding divestiture commitments* The Competition and Consumer Protection Commission (Commission) has today cleared the proposed acquisition (...)

The UK Competition and Markets Authority spurs an undertaking specialized in rail services to offer merger remedies in order to resolve competition concerns and to avoid an in-depth merger investigation (ICRL)
British Competition Authority - CMA (London)
Stagecoach/Virgin consortium given chance to resolve limited competition concerns arising from the East Coast rail franchise award* ICRL, a subsidiary jointly owned by Stagecoach and Virgin Trains, has the chance to avoid an in-depth merger investigation into its successful bid to run the East (...)

The Finnish Consumer and Competition Authority lifts the remedy conditions originally attached to a reported merger (TV 4 / C More Group)
Dittmar & Indrenius (Helsinki)
Letting the Notifying Party Off the Hook* The Amendment of Remedy Conditions under Finnish Merger Control Law Post-Approval On February 6, 2015 the Finnish Consumer and Competition Authority (the ”FCCA”) published its approval of MTV Oy’s (“MTV”) application to lift the remedy conditions (...)

The Finnish Competition and Consumer Authority removes commitments imposed on broadcasting companies in the context of the acquisition of a pay-TV broadcaster (TV4/MTV)
Roschier (Helsinki)
On 27 November 2008, the Finnish Competition Authority (since then the Finnish Competition and Consumer Authority, "FCCA"), conditionally approved the acquisition of pay-TV broadcaster C More Group Ab ("C More") by TV4 Ab (“TV4”). The acquisition combined the broadcasting operations of MTV Oy (...)

A US State Court rejects a proposed consent judgement for under-addressing the competitive harm (Commonwealth / Partners Healthcare System)
Simpson Thacher & Bartlett (New York)
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New York State Executive Chamber
Massachusetts Court Unsettles Partners’ Hospital Merger By Nixing Consent Judgment* A Massachusetts state court on Thursday derailed the settlement of a challenge to the proposed merger of Partners Health System with rivals South Shore Health and Educational Corp. (South Shore Hospital) and (...)

The EU Commission conditionally approves a three part deal in the pharmaceutical sector (GSK / Novartis)
Van Bael & Bellis (Brussels)
On 28 January 2015, in two separate decisions, the European Commission conditionally approved a complex transaction between pharmaceuticals producers GlaxoSmithKline (GSK) and Novartis that will result in: (i) GSK’s acquisition of Novartis’ human vaccines business; (ii) the formation of a joint (...)

The EU Commission conditionally approves deals in the pharmaceutical sector extending its analysis of pipeline pharmaceutical products (GSK / Novartis)
DG COMP (Brussels)
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DG COMP (Brussels)
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DG COMP (Brussels)
"Protecting the drugs of tomorrow : competition and innovation in healthcare"* In a nutshell : In Novartis/GSK Oncology, the Commission extended its analysis of pipeline pharmaceutical products beyond those that are in advanced stages of development (phase III), to fully assess the (...)

The French Competition Authority opens ex officio proceedings to review the conditions under which a phone carrier complies with commitments (SFR / Numéricable)
French Competition Authority (Paris)
Acquisition of SFR by Numericable.* The Autorité de la concurrence opens ex officio proceedings to review the conditions under which Numericable complies with its commitment to divest Outremer Telecom’s mobile telephony activities in La Réunion and Mayotte. On 30 October 2014, the Autorité de la (...)

The Competition Appeal Tribunal upholds the merger decision of the UK Competition and Markets Authority in a maritime transport case (Eurotunnel / SeaFrance / MyFerryLink)
British Competition Authority - CMA (London)
The CMA has welcomed today’s judgment by the Competition Appeal Tribunal (CAT) to uphold the CMA’s decision to bar Eurotunnel from running its MyFerryLink service out of Dover, to safeguard competition.* The CAT’s judgment dismissed an appeal by Eurotunnel and Société Coopérative de Production de (...)

The Polish Parliament amends the merger control procedure and expends powers of the Competition Authority
Hansberry Tomkiel (Warsaw)
Most important changes in the law The amended version of the Antitrust Act (Act on Competition and Consumer Protection of 16.02.2007, Dz. U. Z 2015 poz. 184) in force since January 2015, introduced fairly significant changes in the reporting of concentrations to the President of the Office for (...)

The Danish Competition and Consumer Authority holds that companies have pre-implemented a merger under scrutiny, leading to the first case of gun jumping (KPMG / EY)
Gorrissen Federspiel (Copenhagen)
First case on gun jumping in Denmark* By terminating the agreement with KPMG International on the day of signing an agreement to join EY, KPMG Denmark pre-implemented the merger between KPMG Denmark and EY that the Danish Competition and Consumer Authority (DCCA) ruled in December 2014. It is (...)

The Chinese Ministry of Commerce implements its new provisions on imposing additional restrictive conditions on concentrations of business operators
King & Wood Mallesons (Beijing)
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King & Wood Mallesons (Beijing)
Developments to the Merger Control Regime in China: MOFCOM’s Provisions on Imposing Additional Restrictive Conditions on Concentrations of Business Operators (for Trial Implementation)* With the collaboration of Al Wu, Sarah Eder and Lingbo Wei. On 4 December 2014, the Provisions of the (...)

The Stockholm District Court blocks an already completed merger for the first time (Swedbank Franchise / Svensk Fastighetsförmedling)
Vinge (Stockholm)
Historic court victory for Swedish Competition Authority* Stockholm District Court blocks the already completed takeover by Swedbank Franchise of Svensk Fastighetsförmedling Sweden’s first court judgment blocking a merger is a major victory for the Swedish Competition Authority. The court’s (...)

The US DOJ approves a merger in the vehicle air springs market under conditions in order to resolve a vertical antitrust concern (Continental / Veyance Technologies)
Doyle, Barlow & Mazard (Washington DC)
DOJ’s Approval of Continental AG’s Acquisition of Veyance Requires Remedy of a Vertical Concern* On December 11, 2015, the Department of Justice (“DOJ”) approved Continental AG’s $1.8 billion acquisition of Veyance Technologies with conditions. The settlement agreements requires Continental to (...)

The Competition Commission of India directs for the first time a divestiture of assets in a merger case (Sun-Ranbaxy)
Shardul Amarchand Mangaldas & Co (Mumbai)
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Economic Laws Practice (Mumbai)
Introduction The Competition Commission of India (“CCI”) for the first time has directed divestitures of assets, before granting its final approval, in a combination relating to merger of Ranbaxy Laboratories Limited (“Ranbaxy”) into Sun Pharmaceutical Industries Limited (“Sun Pharma”) (referred (...)

The Competition Council of Lithuania clears an acquisition subject to diversture on the alcoholic beverage market (Alita / Mineraliniai Vandenys)
Sorainen (Vilnius)
On December 5, 2014 Competition Council of the Republic of Lithuania (LCC) gave the green light for the concentration in the Lithuanian beverage market. One of the largest manufacturers of alcoholic beverage and the leading wholesaler of alcohol, tobacco and other consumer goods in Lithuania (...)

The Indian Competition Authority approves a merger of two global pharmaceutical companies, subject to divestitures in seven markets for different formulations (Sun Pharma / Ranbaxy)
Vaish Associates, Advocates (New Delhi)
Sun-Ranbaxy deal got conditional approval from CCI* CCI vide its order dated December 5, 2014 has conditionally approved the proposed merger between Sun Pharma and Ranbaxy (collectively called as “parties”), subject to the parties inter alia carrying out the divestiture of their products (...)

The Chinese MOFCOM publishes penalty decisions regarding merger control for the first time (Unigroup / RDA Microelectronics; Western Digital / Hitachi)
AnJie Law (Beijing)
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AnJie Law (Beijing)
MOFCOM Steps Up: Penalty Decisions Regarding Merger Control Published for the First Time* Two months after the National Development and Reform Commission (“NDRC”) published its last high-profile anti-monopoly penalty decisions (e.g.Japanese Auto Parts and Bearing Manufacturers case, Audi and (...)

The Hellenic Competition Commission clears a merger subject to remedies in the market for chocolate milk and in the market for the procurement of raw milk (Delta / Mevgal)
Hellenic Competition Authority (Athens)
Clearance of the proposed acquisition by DELTA of MEVGAL, subject to conditions and obligations* HELLENIC REPUBLIC COMPETITION COMMISSION Athens, 1 December 2014, PRESS RELEASE Clearance of the proposed acquisition by the DELTA of MEVGAL, subject to conditions and obligations. The Hellenic (...)

The French Competition Authority clears, subject to remedies, a merger in the mobile virtual networks market (Virgin Mobile / Numericable)
French Competition Authority (Paris)
The Autorité de la concurrence clears Virgin Mobile’s acquisition by Numericable* The Autorité de la concurrence has cleared the acquisition of Omer Telecom Limited (“OTL”) by Numericable. OTL is a virtual mobile phone operator operating under the Virgin Mobile brand. This decision takes place (...)

The EU Commission imposes several commitments to alleviate vertical competition concerns in the space industry (Airbus / Safran)
DG COMP (Brussels)
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DG COMP (Brussels)
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European Space Agency - ESA (Frankfurt)
"Airbus /Safran /JV: Launching competition into space"* In a nutshell : In the Airbus /Safran/JV case, the Commission looked at the space industry. Several commitments were imposed to alleviate foreclosure concerns of competitors. One of the vertical concerns identified required the (...)

The French Competition Authority clears, subjet to structural remedies, a merger in the food distribution market (Dia France / Carrefour)
French Competition Authority (Paris)
The Autorité de la concurrence clears the merger but Carrefour undertakes to divest 56 shops.* On 18 August 2014, the European Commission referred to the Autorité de la concurrence the review of the acquisition sole control of Dia France SAS (hereinafter "Dia”) by Carrefour France SAS (...)

The Competition Commission of Singapore conditionally clears first merger with divestment and behavioural commitments (Seek Asia Investments / JobStreet)
BHP Billiton (Singapore)
Comment: On 13 November 2014, the Competition Commission of Singapore (the “CCS”) released its grounds of decision conditionally clearing the proposed acquisition by SEEK Asia Investments Pte. Ltd. (“SEEK Asia Investments”), of 100 per cent. of the online recruitment business assets of JobStreet (...)

The Ukranian Antimonopoly Committee intends to reconsider its decision granting merger clearance on the telecommunication technologies market (Kyivstar)
Arzinger & Partner (Kiev)
Antitrust authority of Ukraine intends to reconsider its decision granting merger clearance on the telecommunication technologies market of Ukraine* In early November 2014 the Antimonopoly Committee of Ukraine made a statement, announcing that it was going to reconsider its position on the (...)

The US DOJ reaches $5 millions settlement with companies after allegations of premerger coordination (Flakeboard America / SierraPine)
Wolters Kluwer (Riverwoods)
U.S. Premerger Coordination Allegations Settled for $5 Million in Civil Penalties, Disgorgement* The dangers of prematurely exercising operational control over an acquisition target, or at least appearing to operate organizational control, are highlighted by a Department of Justice Antitrust (...)

The US DOJ announces a proposed $4.95 million settlement for alleged “gun-jumping” while the parties’ proposed transaction was under antitrust review (Flakeboard America / SierraPine)
O’Melveny & Myers (Washington DC)
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O’Melveny & Myers (Washington DC)
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O’Melveny & Myers (Washington DC)
On November 7, 2014, the Antitrust Division of the U.S. Department of Justice (“DOJ”) announced a proposed $4.95 million settlement with Flakeboard America Limited, its parent companies Celulosa Arauco y Constitución S.A. and Inversiones Angelini y Compañía Limitada (collectively, “ Flakeboard”), (...)

The US DOJ requires disgorgement for gun-jumping violations in abandoned transaction (Flakeboard America / SierraPine)
Kirkland & Ellis (New York)
On November 7, 2014, the U.S. Department of Justice, Antitrust Division (“DOJ”) announced that it had entered into a settlement with Flakeboard and SierraPine resolving allegations that the two parties had engaged in illegal premerger coordination in connection with their now-abandoned (...)

The French Competition Authority clears the takeover of a mobile phone operator subject to structural and behavioural commitments (SFR / Numéricable)
Herbert Smith Freehills (Paris)
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Herbert Smith Freehills (Paris)
Introduction On 30 October 2014, following an in-depth review, the French Competition Authority (the "FCA") authorised the takeover of the mobile phone operator SFR by Numericable Group, a wholly-owned subsidiary of Altice. Before the transaction, SFR was wholly owned by the Vivendi group; (...)

The French Competition Authority clears, subject to remedies, an acquisition in the high-speed broadband access market (SFR / Numéricable)
French Competition Authority (Paris)
The Autorité de la concurrence gives conditional clearance to the acquisition of SFR by Numericable, an Altice subsidiary. * Among the commitments discussed and negotiated with the Autorité de la concurrence, Numericable commits to give competitors (internet service providers, MVNO) access to (...)

The Finnish Competition and Consumer Authority clears, subject to remedies, an acquisition in the chicken feed market (DAVA Foods / Muna Foods)
Finnish Competition and Consumer Authority (Helsinki)
The Finnish Competition and Consumer Authority approved egg business acquisition subject to conditions* On 21 October 2014, the Finnish Competition and Consumer Authority (FCCA) approved an acquisition whereby DAVA Foods Holding A/S, a Danish company, acquires control of the Finnish company (...)

The European Commission clears the acquisition of a Dutch cable TV operator by a competitor, subject to conditions (Liberty Global / Ziggo)
DG COMP (Brussels)
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DG COMP (Brussels)
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DG COMP (Brussels)
"Liberty Global/Ziggo: Consolidation and Innovation in Telecoms"* In the midst of the telecoms consolidation wave observed in Europe and the US, the Commission’s review of Liberty Global/Ziggo highlights the risk that fixed network consolidation can pose to innovation. Even in the (...)

The Lithuanian Competition Council conditionally clears an acquisition on the market of the insurance of land vehicles and the market of property insurance (AB Lietuvos draudimas / PZU)
Lithuanian Competition Authority (Vilnius)
COMPETITION COUNCIL CLEARS ACQUISITION OF AB LIETUVOS DRAUDIMAS BY PZU S.A., SUBJECT TO CONDITIONS* On 9 October, the Competition Council (KT) cleared the acquisition of 100 per cent of AB Lietuvos draudimas shares by PZU S.A. The merger was cleared upon the condition that PZU S.A. would sell (...)

The Lithuanian competition authority clears a merger subject to commitments in the insurance sector (PZU / Lietuvos draudimas)
Valiunas Ellex (Vilnius)
On 9 October 2014 the Lithuanian competition authority adopted a decision clearing the acquisition of 100% shares of AB “Lietuvos draudimas” by PZU S.A., subject to commitments. The transaction concerned Lithuanian insurance sector and it entailed a horizontal concentration between two of the (...)

The Competition Commission of India clears a joint venture after securing voluntary commitments (MIAL JV)
Shardul Amarchand Mangaldas & Co (Mumbai)
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Economic Laws Practice (Mumbai)
1. Introduction 1.1. The Competition Commission of India (CCI) approved the joint venture entered between Mumbai International Airport Private Limited (MIAL), Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL) (...)

The Polish competition authority conditionally clears acquisition of competing tobacco and fast moving consumer goods wholesalers (KDWT / Kolporter)
Dentons (Warsaw)
The proposed concentration was notified to the Chairperson of the Polish Office for Competition and Consumer Protection (the “UOKiK Chairperson”) pursuant to Article 13 Section 2 point 2 of the Law of February 16, 2007 on Competition and Consumer Protection (the “LCCP”) on December 23, 2013. The (...)

The Lithuanian Competition Council launches a market test following merger commitments proposed on the market of the insurance of land vehicles and the market of property insurance (PZU)
Lithuanian Competition Authority (Vilnius)
Competition Council calls for opinions on merger commitments proposed by PZU S.A.* Competition Council (KT) calls stakeholders to express their grounded opinions on PZU S.A. (Powszechny Zakład Ubezpieczeń Spółka Akcyjna) commitments to the merger wherein the latter acquires up to 100 per cent of (...)

The EU Commission approves the acquisition of several chemical businesses, subject to conditions (Huntsman / Rockwood)
DG COMP (Brussels)
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DG COMP (Brussels)
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DG COMP (Brussels)
"The "White Powder" Case: Balancing the Evidence"* The Huntsman- Rockwood TiO2 merger provides lessons for future chemical cases on the following topics: 1) The use of market features and price correlation to define relevant market. 2) Competition by Chinese products in the European (...)

The Romanian Competition Council conditionally clears a merger following a market test in the sugar market (Agrana Zucker)
Romanian Competition Council (Bucharest)
The Competition Council has approved takeover of SC Lemarco Cristal SRL and SC Zaharul Liesti by Agrana Zucker GMBH in Austria* The Competition Council has authorized the economic concentration by which AGRANA Zucker GmbH took over the assets of SC Zaharul Lieşti SA and SC Lemarco Cristal SRL. (...)

The UK Competiton and Markets Authority exercises its powers to impose interim enforcement Orders with flexibility (Marston Holdings / Collectica)
St John’s Chambers (Bristol)
United Kingdom: Merger Control Interim Enforcement Orders* Two unusual features of the United Kingdom’s merger control regime are that notification is voluntary and there is no ‘suspension’ obligation. This means that mergers can be – and routinely are – completed without notification to and/or (...)

The German Competition Authority receives a withdrawal of a merger notification between daily newspapers (Lensing and Funke)
German Competition Authority (Bonn)
Press Release published on the official website of the German Competition Authority. Withdrawal of notification of merger between the daily newspapers WAZ/Westfälische Rundschau and Ruhr-Nachrichten in the Dortmund area* The Bundeskartellamt confirms that the media company Medienhaus Lensing (...)

The Romanian Competition Council launches a market test to evaluate the commitments proposed by an undertaking on white sugar market (Agrana Zucker)
Romanian Competition Council (Bucharest)
The Competition Council launches for public debates the commitments formulated by AGRANA ZUCKER* The Competition Council launches for public debate the commitments formulated by Agrana Zucker for removing the competition concerns identified within the operation of taking over the assets of (...)

The Cypriot Commission for the Protection of Competition reports that two undertakings are abandoning their proposed joint venture despite the authorization granted conditionally on the market for printing services for weekly and monthly magazines (Proteas Press / I.G. Cassoulides & Son / Litho Web)
Commission for the Protection of Competition of the Republic of Cyprus (Nycosia)
Notification of a concentration regarding the creation of a joint company by Proteas Press Ltd, I.G. Cassoulides & Son Ltd and Litho Web Ltd* The Commission for the Protection of Competition announces that companies Proteas Press Ltd, I.G. Cassoulides & Son Ltd and Litho Web Ltd (...)

The EU Commission fines a leading company in salmon farming €20 million for breaching the standstill obligation and failing to meet notification requirements (Marine Harvest / Morpol)
DG COMP (Brussels)
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DG COMP (Brussels)
Article originally published in DG Competition’s Competition merger brief, as Competition merger brief 1/2014 (click here), under the title "Harvesting salmon, jumping guns: the Marine Harvest early implementation case". Please note that all articles published in the CPN are subject to a (...)

The EU Commission clears the acquisition by a Swedish steelmaker of its Finnish rival, subject to the divestment of five businesses in Finland, Sweden and Norway (SSAB / Rautaruukki)
French Ministry of the Economy (Paris)
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DG COMP (Brussels)
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DG COMP (Brussels)
"Viking Steel: the SSAB / Rautaruukki merger"* The SSAB / Rautaruukki case gives insight into the Commission’s approach to market definition in merger cases. The case confirms that the Commission’s approach is case-specific, and driven by the issues at stake in a given case rather than (...)

The District Court of Jerusalem condemns a former CEO for actual imprisonment time (Mr. Roznhoiz, Mr. Gidor, Supersal)
B.Golan Law Firm (Tel Aviv)
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B.Golan Law Firm (Tel Aviv)
Recently, the District Court of Jerusalem has sentenced the former CEO of the largest supermarket chain in Israel for actual imprisonment time. This verdict is very significant and is most likely to be a mile stone in the evolution of sanctioning for violations of antitrust law. It is (...)

The Australian Competition and Consumer Commission outlines potential competition concerns with the proposed acquisition on the market for casino services (Reef Casino Trust)
Australian Competition and Consumer Commission (Canberra)
ACCC calls for comment on Aquis’ proposed acquisition of the Reef Hotel Casino* The Australian Competition and Consumer Commission has released a Statement of Issues outlining potential competition concerns with the proposed acquisition by Aquis Reef Holdings (Aus) Pty Ltd (together with its (...)

The Australian Competition Tribunal grants authorisation to complete acquisition under the proposed conditions on the market for electricity wholesale and retail markets in NSW (AGL / Macquarie Generation)
Australian Competition and Consumer Commission (Canberra)
ACCC disappointed by Tribunal decision authorising AGL to acquire Macquarie Generation* The Australian Competition Tribunal (the Tribunal) has decided to grant conditional authorisation to AGL Energy Limited’s (AGL) proposed acquisition of Macquarie Generation. The Tribunal concluded that the (...)

The Turkish Council of State annuls the decision of the Turkish Competition Authority which conditionally cleared the merger of the two largest cinema chains in Turkey in Phase II (AFM/Mars)
University of Sussex
This study analyses the judgment of the Turkish Council of State in which it has annulled the decision of the Turkish Competition Authority to conditionally clear in Phase II the merger of the two largest cinema chains in Turkey on the grounds that the merger remedies were insufficient to (...)

The Lithuanian Competition Council opens an investigation and finds that refusal to negotiate a swap agreement for natural gas amounted to a breach of the merger conditions (Lietuvos energijos gamyba)
Lithuanian Competition Authority (Vilnius)
Lithuanian Competition Council fines OAO Gazprom for failing to comply with merger conditions* On 10 June, the Competition Council (KT) imposed a fine of 123,096,700 litas (approx. EUR 35,651,269) on OAO Gazprom for the failure to comply with merger conditions. In 2004, the KT allowed Gazprom (...)

The French Competition Authority conditionally clears an acquisition of sole control on the luxury perfumes and cosmetics market (Nocibé / Advent)
French Competition Authority (Paris)
Press Release published on the official website of the French Competition Authority. The Autorité de la concurrence clears the acquisition of sole control of Nocibé by Advent (Douglas) subject to the divestment of 38 sales outlets by the new entity. These commitments will provide consumers with (...)

The Danish Supreme Court upholds two decisions by the Danish Competition Council in relation to commitments given in a merger case (Nykredit)
Danish Competition and Consumer Authority (Copenhagen)
On 3 June 2014, the Danish Supreme Court upheld two decisions by the Danish Competition Council in which it decided (i) that a commitment without any specific mention of time limit was unlimited in time; and (i) that the Danish Competition Council enjoys a margin of appreciation in matters of (...)

The Danish Competition Authority abolishes commitments, which no longer are necessary for competition in the wholesale market for electricity in Western Denmark (DONG Energy / NESA)
Danish Competition and Consumer Authority (Copenhagen)
The Danish Competition Council Abolishes a Commitment from DONG Energy* On 28 May 2014 the Danish Competition Council abolished a commitment from a merger between Elsam (now DONG Energy) and Nesa in 2004. The commitment obliged DONG Energy to auction 600 MW electricity generation capacity (...)

The Danish Competition Council conditionally approves a takeover on the market for audit and tax services (EY / KPMG)
Danish Competition and Consumer Authority (Copenhagen)
Denmark: Merger in the audit industry approved with commitments* The Danish Competition Council (DCC) has approved EY’s takeover of KPMG in Denmark, subject to commitments. The purpose of the commitments is to support the reestablishment of KPMG International’s presence in Denmark so that KPMG (...)

The Australian Competition and Consumer Commission does not oppose proposed acquisition of fuel division after accepting an undertaking to sell four retail fuel sites (Caltex / Scotts)
Australian Competition and Consumer Commission (Canberra)
ACCC will not oppose proposed acquisition of the fuel division of the Scotts Group by Caltex following divestiture remedy* The Australian Competition and Consumer Commission has announced that it will not oppose the proposed acquisition by Caltex Australia Limited of the fuel division of the (...)

The US FTC approves the 2013 Hart-Scott-Rodino premerger notification program, which provides the enforcing agencies with information about large mergers and acquisitions before they occur
Sheppard Mullin (Washington)
Some Interesting Numbers Regarding Merger Review: The Hart-Scott-Rodino Annual Report for Fiscal Year 2013* The Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) requires that proposed acquisitions of voting securities, assets or non-corporate interests meeting certain (...)

The Indian Competition Authority fines two tour operators for gun jumping (Thomas Cook and Sterling)
Platinum Partners (New Delhi)
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Platinum Partners (New Delhi)
On 21 May 2014, the Competition Commission of India (“CCI”) imposed a penalty of INR 1 million (approximately USD 0.16 million) on Thomas Cook (India) Limited (“TCIL”), Thomas Cook Insurance Services (India) Limited (“TCISIL”) and Sterling Holidays Resorts (India) Limited (“Sterling”), for (...)

The Lithuanian Competition Council imposes fines for implementing non-notified mergers and requires the undoing of the takeover on the market for petrol stations (Lukoil Baltija / Baltic Petroleum)
Lithuanian Competition Authority (Vilnius)
Competition Council fines Lukoil 11 817 700 LTL for implementing non-notified mergers* On 12 May, the Competition Council (the KT) fined UAB Lukoil Baltija 11 817 700 LTL ( ̴ 3 422 642 EUR) for implementing non-notified mergers and obligated the company to eliminate the breach. Having (...)

The Australian Competition and Consumer Authority clears an acquisition proposed by leading convenience retailer of a company owning retail petrol station sites in South Australia (BP / Peregrine)
Australian Competition and Consumer Commission (Canberra)
ACCC will not oppose Peregrine’s proposed acquisition of BP petrol station sites in SA* The Australian Competition and Consumer Commission will not oppose the proposed acquisition by Peregrine Corporation (Peregrine) of BP Australia’s (BP) company- owned and operated retail petrol station sites (...)

The European Commission approves a joint venture in the PVC production sector on the basis of a divestiture (INEOS / Solvay)
Van Bael & Bellis (Brussels)
On 8 May 2014, the European Commission conditionally cleared the joint venture combining the European chlorvinyls businesses of INEOS of Switzerland and Solvay of Belgium. During an in-depth review of the deal, the Commission expressed concerns regarding two markets: the North West European (...)

The EU Commission clears a merger between the two top-tier suppliers of S-PVC upon submission of significant remedies (INEOS / Solvay / JV)
DG COMP (Brussels)
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DG COMP (Brussels)
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DG COMP (Brussels)
"INEOS / Solvay / JV: Yet another P(ractically) V(ery) C(omplex) merger"* In a nutshell : Natural experiments are rare in merger assessment. However, previous mergers in the PVC industry made it possible in this case to analyse the effects of consolidation on competition and prices. (...)

The Netherlands Competition Authority finds that the proposed acquisition may lead to restrictions for other companies on the use of the fiber-optic cable network (KPN / Reggefiber)
Netherlands Authority for Consumers & Markets (The Hague)
Further investigation needed into planned acquisition of Reggefiber by KPN* The Netherlands Authority for Consumers and Markets (ACM) will launch a more detailed investigation into the planned acquisition of Dutch fiber-optic company Reggefiber by Dutch telecom provider KPN. In 2008, ACM (...)

The Chinese MOFCOM clears acquisition on the market for chemical materials used in the manufacture of integrated circuits and flat panel displays (Merck / AZ Electronics)
AnJie Law (Beijing)
Last Hurdle for Merck’s Acquisition of AZ Electronics Removed: MOFCOM’s 23rd Conditional Clearance* Following the antitrust watchdog in Germany, Japan, Taiwan and the United States, the Ministry of Commerce of the People’s Republic of China (MOFCOM) conditionally cleared Merck KGaA’s (Merck) (...)

The Chinese MOFCOM conditionally clears a merger in the manufacture of flat panel displays sector (Merck / AZ Electronics)
Jones Day (Beijing)
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Gibson Dunn (Hong Kong)
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Jones Day (Beijing)
On April 30, MOFCOM approved the acquisition of AZ Electronic Materials S.A. (“AZ”) by Merck KGaA (“Merck”). MOFCOM’s review focused on two products that are components in the manufacture of flat panel displays (FPDs): liquid crystal and photoresist. The decision indicates that MOFCOM engaged (...)

The German Competition Authority clears subject to conditions and obligations an acquisition on the market for TV programme magazines (Springer / Funke)
German Competition Authority (Bonn)
Bundeskartellamt clears Springer/Funke merger in the TV programme magazine segment subject to conditions and obligations* Bonn, 29 April 2014: The Bundeskartellamt has cleared subject to conditions and obligations the acquisition by FUNKE MEDIENGRUPPE of Axel Springer’s TV programme magazines (...)

The US Sixth Circuit Court of Appeals strikes down Ohio hospital merger as anticompetitive (ProMedica Health System)
Norton Rose Fulbright (Washigton)
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Norton Rose Fulbright (Austin)
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Norton Rose Fulbright (Austin)
Continuing the Federal Trade Commission’s (the FTC’s) string of wins in hospital merger cases, the United States Court of Appeals for the Sixth Circuit (the Sixth Circuit) upheld an FTC decision ordering the largest hospital provider in the Toledo, Ohio area to divest a smaller independent (...)

The China’s Ministry of Commerce (MOFCOM) clears a merger in the mining industry (Glencore Xstrata / Las Bambas)
Mattel (Hong Kong)
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White & Case (Hong Kong)
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White & Case (London)
At long last, Glencore has overcome the final regulatory hurdle and secured the approval of China’s Ministry of Commerce (MOFCOM) to acquire the 66 percent of Xstrata that it does not already own. But not before agreeing to part with one of the prized assets in Xstrata’s portfolio, the Las Bambas (...)

The China Insurance Regulatory Commission partially relaxes mergers and the new acquisition rules in the insurance sector are expected to help facilitate market entry and expand the footprint of private capital
AnJie Law (Beijing)
China Issues New Insurance Merger Rules* Level play ground, optimizing industry structure, promoting competitiveness, and enriching the risk management tool kit of the insurance institutes”, quoting a statement of CIRC posted on its website. Promotion of Competition CIRC’s partially relaxed (...)

The Chinese MOFCOM conditionally clears a merger in the smartphone market (Microsoft / Nokia)
Jones Day (Beijing)
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Gibson Dunn (Hong Kong)
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Jones Day (Beijing)
On April 8, MOFCOM approved Microsoft’s acquisition of Nokia’s mobile handset business. MOFCOM’s review focused on three product markets: smartphones, mobile operating systems, and the licensing of standard-essential and non-essential patents for smartphones. Geographically, MOFCOM focused on (...)

The Spanish Competition Authority approves an acquisition of exclusive control subject to remedies in the market of direct sales of petrol (REPSOL/PETROCAT)
DG COMP (Brussels)
On 7 April 2014 the National Markets and Competition Commission (“CNMC”) approved the acquisition of exclusive control of Repsol Comercial de Productos Petrolíferos S.A. (REPSOL) over Societat Catalana de Petrolis S.A. (PETROCAT) subject to remedies. PETROCAT is active in both the market of (...)

The French Competition Authority again conditionally clears a merger in the TV-broadcasting sector (Canal Plus / D8 and D17 TV Channels)
French Competition Authority (Paris)
Press Release published on the official website of the French Competition Authority. The Autorité de la concurrence again clears, subject to remedies, the acquisition of D8 and D17 by Vivendi and Groupe Canal Plus.* The commitments made by GCP and Vivendi are identical to those made at the (...)

The German Competition Authority confirms that the new submitted proposal for commitments is sufficient to dispel the competition concerns on the reader and advertising markets for TV programme magazines (Funke Media Group / Axel Springer)
German Competition Authority (Bonn)
Funke media group offers new commitments* The Bundeskartellamt confirms that in the examination proceedings concerning the acquisition of HÖRZU, FUNK UHR, TV DIGITAL and TV NEU, the media group Funke-Mediengruppe (FMG) and Axel Springer SE have submitted a new commitment proposal. According to (...)

The Polish Competition Authority issues conditional clearance for concentration in pharmaceutical sector (Neuca/ACP Pharma)
WKB Wierciński Kwieciński Baehr (Warsaw)
In the decision of 31 March 2014, the President of the Office for Competition and Consumer Protection (hereinafter referred to as the “OCCP President”) approved concentration consisting of Neuca taking control over ACP Pharma. However, Neuca must sell one of its wholesalers located in Bydgoszcz (...)

The Cypriot Commission for the Protection of Competition clears conditionally a joint-venture on the market for printing services for weekly and monthly magazines (Proteas Press / I.G. Cassoulides & Son / Litho Web)
Commission for the Protection of Competition of the Republic of Cyprus (Nycosia)
The Commission for the Protection of Competition decided to clear the concentration of companies Proteas Press Ltd, I.G. Cassoulides & Son Ltd and Litho Web Ltd for a joint venture, by imposing behavioural and structural remedies* On 28/3/2014, the Commission for the Protection of (...)

The Belgian Competition Authority clears a merger in the printed media sector (Editions de l’Avenir et L’Avenir Advertising / Tecteo Services Group)
Simmons & Simmons (Brussels)
Following its clearance of a merger of two Flemish newspaper groups (Corelio/Concentra, decision of 25 October 2013), the Belgian Competition Authority has had to review another proposed concentration in the printed media sector, this time in the French-speaking part of Belgium. The (...)

The Canadian Competition Bureau clears a merger in the grocery distribution sector by consent agreement (Loblaw-Shoppers)
Université d’Ottawa - University of Ottawa
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Canadian International Joint Commission (Ottawa)
Introduction The Canadian Competition Bureau (“Bureau”), which assists the Commissioner of Competition (“Commissioner”) in the administration and enforcement of the Competition Act (“Act”) , announced on 21 March 2014 that the Commissioner has reached a consent agreement with Loblaw Companies (...)

The Chinese MOFCOM announces decision to publicize the decisions of administrative penalties of undertakings which did not submit a notification prior to the implementation of their concentration
AnJie Law (Beijing)
Non-filers Beware: MOFCOM Takes More Strict Approach* Introduction On March 21, 2014, the PRC Ministry of Commerce (“MOFCOM”) announced that it decided to publicize the decisions of administrative penalties of undertakings which did not submit a notification prior to the implementation of their (...)

The Canadian Competition Bureau completes two lengthy merger investigations in the grocery sector where the regulation of pricing conduct with regard to the relation retailer - supplier was a central issue
Davies Ward Phillips & Vineberg (Toronto)
Face-off in the Grocery Aisle: Retailers and Suppliers Go Head-to-Head in Canada* I. INTRODUCTION Perhaps more than ever, tensions between suppliers and retailers have become the defining feature of the grocery industry worldwide. These tensions have also frequently formed the basis for (...)

The UK Competition Appeal Tribunal upholds the Competition Commission’s decision ordering partial divestment of an airline’s minority shareholding in its direct competitor (Ryanair)
The University of Manchester
On 7 March 2014, the Competition Appeal Tribunal (“the CAT”) handed down its judgement upholding the findings of the Competition Commission (“the CC”) in its final report (“the Report”) concluding that Ryanair’s 29.82% minority shareholding in Aer Lingus resulted in a substantial lessening of (...)

The UK Competition Appeal Tribunal dismisses an appeal against divestiture order under UK Enterprise Act 2002 (Ryanair)
Herbert Smith Freehills (London)
Ryanair Holdings Plc (“Ryanair”) and Aer Lingus Group plc (“Aer Lingus”) are Irish low-cost airline competitors that share more than 40 routes from and to Ireland. On 7 March 2014 in case 1219/4/8/13 Ryanair Holdings PLC v Competition Commission [2014] CAT 3, the Competition Appeal Tribunal ("CAT" (...)

The UK Competition Appeal Tribunal rules on non-controlling minority shareholding and reduces share to a maximum of 5% (Ryanair)
Queen Mary University (London)
The decision of the Competition Appeal Tribunal (CAT) Ryanair Holdings plc v Competition Commission on 7th March 2014 concerns the anti-competitive effects originated by financial links between competitors. In particular, the decision regards the effects on competition of Ryanair’s (...)

The UK Competition Appeal Tribunal dismisses an appeal against divestiture of minority stake (Ryanair, Aer Lingus)
King’s College (London)
Background of the case Ryanair has been attempting to take over its rival Irish airline Aer Lingus since 2006 when it made its first bid. The COM prohibited the merger but also found it had no power to require Ryanair to divest itself of the minority stake of 25% in Aer Lingus. In the appeal (...)

The Australian Competition and Consumer Commission does not oppose a proposed acquisition of a distributor of flat steel products after accepting an undertaking to divest certain processing assets (BlueScope Steel / OneSteel Sheet & Coil)
Australian Competition and Consumer Commission (Canberra)
ACCC will not oppose proposed acquisition of OneSteel Sheet and Coil by Bluescope* The Australian Competition and Consumer Commission has announced that it will not oppose the proposed acquisition of the OneSteel Sheet and Coil business from Arrium Limited by BlueScope Steel Limited after (...)

The South African Minister of Economic Development intervenes in favour of allowing the implementation of an acquisition in the agricultural sector (AFGRI / AgriGroupe)
Primerio (Washington)
Worrying trends in South African merger control – Government’s abuse of process continues unabated* Secret deals sideline competition authorities In what can only be described as a significant step backwards in ensuring that the more established of the emerging economies enforce the application (...)

The Australian Competition and Consumer Commission opposes the acquisition of two power stations by main electricity retailer (Macquarie Generation / AGL Energy)
Australian Competition and Consumer Commission (Canberra)
ACCC opposes AGL’s proposed acquisition of Macquarie Generation* The Australian Competition and Consumer Commission has today announced that it will oppose the acquisition of the assets of Macquarie Generation by AGL Energy Limited (AGL). The ACCC considers that the proposed acquisition is (...)

The District Court of Rotterdam upholds decision of the Dutch Competition Authority blocking a merger in the rusk and gingerbread sector (A.A. ter Beek / Continental Bakeries)
Stibbe (Amsterdam)
1. Introduction On 14 December 2012, the Dutch Competition Authority (formerly "NMa", currently "ACM") blocked the proposed acquisition of A.A. ter Beek B.V. by Continental Bakeries B.V. (jointly the "Parties") (the "Merger") . Both companies are involved in the production of rusk and (...)

The Finnish Competition Authority approves conditionally a merger on the market for fitness centres (Elixia / SATS)
Finnish Competition and Consumer Authority (Helsinki)
The Finnish Competition and Consumer Authority approved the merger between Elixia and SATS subject to conditions* On 24 February 2014, the Finnish Competition and Consumer Authority (FCCA) conditionnally approved a deal, in which Altor Fund III and TryghedsGruppen smba acquired joint control (...)

The German Competition Authority issues a preliminary assessment of the planned acquisition of a number of TV programme magazines (Springer / Funke)
German Competition Authority (Bonn)
Springer/Funke - TV programme magazines Talks held with the Bundeskartellamt about the divestment of several print titles* The Bundeskartellamt confirms that on 24 February 2014 it has issued a preliminary assessment of the planned acquisition of the TV programme magazines Hörzu, Funk Uhr, TV (...)

The German Competition Authority clears acquisition of medical care centres and clinics pursuant to the exclusion from the transaction of hospitals operated on four regional medical care markets (Helios Kliniken / Rhön-Klinikum)
German Competition Authority (Bonn)
Bundeskartellamt clears acquisition by Helios Kliniken (Fresenius) of 40 clinics and 13 medical care centres operated by Rhön-Klinikum AG* The Bundeskartellamt has cleared plans by the Helios clinics, which belong to the Fresenius group, to acquire the control of a total of 40 clinics and 13 (...)

The Australian Competition and Consumer Commission commences market consultation on commitments in relation to a proposed acquisition of the business and assets of a energy supplier (AGL Energy / Macquarie Generation)
Australian Competition and Consumer Commission (Canberra)
ACCC to consult market on proposed undertaking from AGL* The Australian Competition and Consumer Commission today commenced market consultation on a proposed undertaking offered by AGL Energy Limited (AGL) in relation to its proposed acquisition of the business and assets of Macquarie (...)

The Italian Competition Authority opens an investigation for a possible breach of obligations imposed to prevent anti-competitive effects following a merger clearance in the insurance sector (Unipol Gruppo Finanziario / Premafin Finanziaria / Holding di Partecipazioni)
University of London - School of Economics Birkbeck College
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Clifford Chance (Paris)
On the 19th of February 2014, the Italian Competition Authority (the “Authority” or “Italian Authority”) opened an investigation against Unipol Gruppo Finanziario (“UGF”) and Premafin Finanziaria S.p.A. – Holding di Partecipazioni S.p.A. (“Premafin”) for a possible breach of obligations set forth in (...)

The Chinese MOFCOM publishes a set of provisions establishing substantive criteria necessary to fulfil in order to qualify as a simple merger case
King & Wood Mallesons (Beijing)
MOFCOM Takes a Major Step towards a Simplified Merger Control Procedure by Promulgating the Standards for Simple Cases* On February 11, 2014, China’s Ministry of Commerce (MOFCOM) published the long-awaited Interim Provisions on the Standards for Simple Cases of Concentrations of Operators (the (...)

The French Competition Authority conditionally clears an acquisition of sole control on the pay-TV market (Mediaserv / Canal Plus Overseas)
French Competition Authority (Paris)
Subject to a number of commitments, the Autorité de la concurrence has cleared the acquisition of Mediaserv by Canal Plus Overseas, a subsidiary of the Canal Plus Group* The Autorité de la concurrence has cleared, subject to a number of commitments, the exclusive takeover by the Canal Plus (...)

The Polish Competition Authority conditionally clears a merger on the laundry detergents market (Henkel / PZ Cussons)
WKB Wierciński Kwieciński Baehr (Warsaw)
In the decision of 6 February 2014, the President of the Office for Competition and Consumer Protection (hereinafter referred to as the “OCCP President”) gave conditional consent for Henkel to acquire a part of assets of undertakings belonging to the PZ Cussons’s capital group. Henkel, together (...)

The Lithuanian Competition Council closes merger investigation pursuant to the divesture of acquired shares by the cosmetics supplier (Fragrances International)
Lithuanian Competition Authority (Vilnius)
Competition council terminates investigation on the actions of Fragrances International* On January 30, the Competition Council (the Council) terminated the investigation on the actions of UAB Fragrances International (Fragrances International) whereby the latter had acquired 49 per cent of (...)

The Austrian Supreme Court considers that the examination of a merger case excludes the parallel examination of antitrust issues (MPV/PGV)
Bpv Hügel (Vienna)
Introduction The MPV/PGV decision discussed here concerns the (merger) notification of a logistic joint venture between two Austrian press wholesalers. Unlike the European Merger Regulation 139/2004, the Austrian Cartel Act does not foresee an appraisal of a transaction under anti-trust (...)

A US District Court orders the largest care system in Idaho to divest independent multi-specialty physician practice (St. Luke’s Health System / Saltzer Medical)
Wolters Kluwer (Riverwoods)
Combination of Idaho’s Largest Health System and Largest Physician Practice Must Be Unwound* Within the span of about two weeks, each of the federal antitrust agencies has been handed a major win in their merger enforcement efforts. Last Friday, it was the Federal Trade Commission’s turn. The (...)

The United States District Court for the District of Idaho orders to unwind a hospital/physician group merger (St. Luke’s Health System / Saltzer Medical)
Paul Hastings (Washington)
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Paul Hastings (San Francisco)
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Paul Hastings (Los Angeles)
On January 24, 2014, the United States District Court for the District of Idaho ordered St. Luke’s Health System to unwind a merger with the Saltzer Medical Group. The outcome represented a significant victory for the various parties, including the Federal Trade Commission (“FTC”) and the State (...)

The New Zealand Commerce Commission clears proposed acquisition on the market for production and supply of magazines (Bauer Media)
New Zealand Commerce Commission (Wellington)
Press releases published on New Zealand Commerce Commission Bauer given clearance to acquire magazine titles* The Commerce Commission has cleared Bauer Media Group (NZ) LP (Bauer) to acquire all of the assets used by APN Specialist Publications NZ Limited (APNSP) in the publication of the New (...)

The French Competition Authority requests consultation in relation to commitments proposed for a notified acquisition in the TV-broadcasting sector (Canal Plus / D8 and D17 TV Channels)
French Competition Authority (Paris)
Press release published on the official website of the French Competition Authority. Canal Plus has just renotified the acquisition of D8 and D17 TV channels. The Autorité de la concurrence has decided to seek sector-specific regulators’ and market players’ views on the new draft commitments* (...)

The Polish Competition Authority conditionally clears an acquisition in the grocery market (Auchan/Real)
Deloitte (Paris)
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Deloitte (Paris)
In January 2014, the Polish Competition Authority (UOKiK) conditionally approved the proposed acquisition of 57 Real hypermarkets in Poland by Auchan Polska, an operator of 27 hypermarkets and 31 supermarkets in Poland. The acquisition is conditional on the sale of eight of the Real (...)

The Australian Competition and Consumer Commission opposes the proposed acquisition in the radiology industry (Delta Imaging / Sonic Health)
Australian Competition and Consumer Commission (Canberra)
ACCC to oppose Sonic’s acquisition of the assets of Delta Imaging Group* The Australian Competition and Consumer Commission has announced it will oppose the proposed acquisition by Sonic Healthcare Limited (Sonic) of assets of Delta Imaging Pty Limited (in liquidation), Delta Imaging Maitland (...)

A US District Court finds evidence that the merging parties expected the transaction to have anticompetitive effects (Bazaarvoice / PowerReviews)
Orrick, Herrington & Sutcliffe (San Francisco)
Another Example of Why You Should Follow the “New York Times” Rule — the Bazaarvoice Decision* Have you heard of the New York Times rule? The rule is: don’t write something down in a business communication unless you’re comfortable with its text appearing in the New York Times. If everyone followed (...)

The Chinese MOFCOM conditionally approves an acquisition in the biotechnology sector (Thermo Fisher / Life Technologies)
First Principles Economics (London)
On Tuesday 14th January 2014 MOFCOM conditionally cleared the acquisition of Life Technologies Corporation (“Life Technologies”) by Thermo Fisher Scientific Inc. (“Thermo Fisher”). The review process took 6 months from initial notification, which is relatively quick for an intervention decision by (...)

The US District Court Northern District of California rules against non-reported acquisition in the market for product ratings and reviews platforms (Bazaarvoice / PowerReviews)
Wolters Kluwer (Riverwoods)
Combination of online consumer review platforms Bazaarvoice and PowerReviews found to violate Clayton Act* Last week, the federal district court in San Francisco ruled that Bazaarvoice Inc.’s June 2012 acquisition of PowerReviews Inc. violated Sec. 7 of the Clayton Act. In a “necessarily lengthy (...)

The Italian Competition Authority fines several undertakings for a breach of obligations to protect competition following a merger clearance in the maritime sector (Compagnia Italiana di Navigazione / Moby)
University of London - School of Economics Birkbeck College
On the 20th of December 2013, the Italian Competition Authority (the “Authority”) opened an investigation against Compagnia Italiana di Navigazione S.p.A. (“CIN”) and Moby S.p.A. (“Moby”) for breach of obligations set forth in the decision issued by the Authority on the 21st June 2012. According to (...)

The New Zealand Commerce Commission approves conditionally an acquisition in the life sciences industry (Thermo Fisher Scientific / Life Technologies)
New Zealand Commerce Commission (Wellington)
Press releases published on New Zealand Commerce Commission Thermo Fisher cleared to acquire Life Technologies subject to a divestment undertaking’ The Commerce Commission has cleared Thermo Fisher Scientific Inc. (Thermo Fisher) to acquire Life Technologies Corporation (Life Technologies). (...)

The South African Constitutional Court sets aside costs order related to decision by the Competition Appeal Court to overturn merger prohibition decision (Pioneer Hi-Bred International / Pannar Seeds)
RBB Economics (London)
How to (almost) gut an agency – the final twist in the maize seeds case?* On 18 December 2013, the Constitutional Court of South Africa (“Constitutional Court”) handed down its decision in an appeal by the Competition Commission (“Commission”) against an unprecedented costs order imposed by the (...)

The EU General Court confirms that the merged parties are not dominant in the internet visual communications market and rejects interoperability issues raised by appellants (Microsoft / Skype)
Ashurst (Milan)
EU Court upholds the Commission’s decision on the Microsoft/Skype deal* On 11 December 2013 the EU’s General Court (the “Court”) handed down its ruling concerning Microsoft’s acquisition of Skype. The Court held that the Commission rightly considered that the transaction does not restrict (...)

The UK Competition Appeal Tribunal quashes the Competition Commission decision regarding maritime transport over the Channel highlighting contradictory analysis of mergers between National Competition Authorities (Eurotunnel / SeaFrance / MyFerryLink)
HEC (Jouy-en-Josas)
The control of the Channel remains an emphatically strategic subject of prime importance for England: the Eurotunnel ferries might well not be allowed to disembark at Dover in the future! At least that’s what the Competition Commission, the British competition authority (hereinafter referred to (...)

The COMESA Competition Commission announces the lodging of its tenth merger notification involving two supermajor oil companies (Total Egypt / Chevron Egypt)
Primerio (Washington)
Some COMESA Merger-Control Musings on the Latest Notification* It’s been a little while since we last published a note on COMESA. When there is little substantive news to report, statistics often yield a topic to write about. And so it is with COMESA. The statistic at hand: On Monday, 18. (...)

The U.S. Department of Justice announces an agreement to settle the antitrust litigation challenging the merger of two air carriers (US Airways / American Airlines)
Cadwalader Wickersham & Taft (New York)
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Cadwalader Wickersham & Taft (Washington)
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Cadwalader Wickersham & Taft (Washington)
On November 12, 2013, US Airways, American Airlines, the U.S. Department of Justice (“DOJ”), and several state Attorneys General announced an agreement to settle the antitrust litigation challenging the merger of the two carriers. Cadwalader, Wickersham & Taft LLP acted as antitrust counsel (...)

The Polish Competition Authority clears a merger subject to remedies in the print media sector (Polskapresse / Media Regionalne)
WKB Wierciński Kwieciński Baehr (Warsaw)
The Polish Competition Authority gives green light to Polskapresse for conditional concentration in press sector (Polskapresse / Media Regionalne). According to the decision of 24 October 2013, Polskapresse’s acquisition of newspaper and media group Media Regionalne was approved by the Polish (...)

The Canadian Competition Bureau completes two lengthy merger investigations in the grocery sector where the regulation of pricing conduct with regard to the relation retailer - supplier was a central issue
Davies Ward Phillips & Vineberg (Toronto)
Face-off in the Grocery Aisle: Retailers and Suppliers Go Head-to-Head in Canada* I. INTRODUCTION Perhaps more than ever, tensions between suppliers and retailers have become the defining feature of the grocery industry worldwide. These tensions have also frequently formed the basis for (...)

The French Competition Authority clears an acquisition of sole control on the market for public transportation subject to commitments (Transdev & Caisse des Dépôts et Consignations)
French Competition Authority (Paris)
Press release published on the official website of the French Competition Authority. The Autorité de la concurrence clears the acquisition of sole control of the Transdev group by the Caisse des Dépôts et Consignations subject to the maintenance of the commitments made in 2010*. On 26 April (...)

The Australian Competition and Consumer Commission releases new guidelines for merger review
Australian Competition and Consumer Commission (Canberra)
ACCC publishes updated informal merger review process guidelines* The Australian Competition and Consumer Commission has released the ACCC’s Informal Merger Review Process Guidelines 2013. This follows a consultation process on a draft of the Guidelines with key stakeholders in July, including (...)

The US FTC challenges an acquisition in the market for audience measurement services (Nielsen / Arbitron)
Wilson Sonsini Goodrich & Rosati (Washington)
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Wilson Sonsini Goodrich & Rosati (Washington)
Background On December 18, 2012, Nielsen announced a $1.26 billion deal to acquire Arbitron. Both firms offer a variety of audience measurement services, which help advertisers and media companies estimate how many people tune-in to particular media content and the demographics of those (...)

The UK Competition Commission requires airline to sell down its minority shareholding in its rival (Ryanair/Aer Lingus)
Dechert (Brussels)
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Fangda Partners (Hong Kong)
1. Introduction This case note provides a summary of the UK competition authorities’ investigation into Ryanair’s 29.82% minority shareholding in its rival Aer Lingus. The long running battle between the two airlines has resulted in more than 20 competition authority and court decisions since (...)

The Brazilian CADE applies remedies on four licensing agreements (Monsanto cases)
Tauil & Chequer (in cooperation with Mayer Brown)
I. Summary of the cases Each of the four concentration acts (“Monsanto Cases”) refer to non-exclusive licensing agreements for the development, testing, production and commercialization of seeds using Intacta RR2 PROTM technology in Brazil, executed between Monsanto, as licensor, and Syngenta, (...)

The Chinese MOFCOM announces its conditional clearance of a merger on the market for LCD TV controller chip (MediaTek / MStar)
King & Wood Mallesons (Beijing)
Another “Hold-Separate” Decision of MOFCOM—MediaTek’s Acquisition of MStar is Cleared with Conditions* On August 27, 2013, MOFCOM announced its conditional clearance on MediaTek Inc’s (“MediaTek”) 4 billion USD acquisition of MStar Semiconductor Inc (“MStar“) (the “Transaction“). This is the second (...)

The COMESA Competition Commission releases the drafts competition guidelines for public review and comment for the second time
Primerio (Washington)
COMESA issues antitrust RFP for comment & review project, re-releases 5 draft Guidelines* COMESA’s Competition Commission’s (“CCC”) has issued a Request for Proposal to conduct a comprehensive review of its previously-released five draft competition Guidelines. In doing so, the CCC re-released (...)

The Portuguese Competition Authority issues clearance decision with remedies in Phase I (Kento Unitel Sonaecom/ZON Optimus)
Sérvulo & Associados (Lisbon)
On the August 26, 2013, the Portuguese Competition Authority (“PCA”) issued a Decision of Non-opposition, with remedies, regarding a concentration notified in February 1, 2013 (under every notification criteria under article 37 (1) of the Portuguese Competition Law – Lei n.º 19/2012, of May 8, (...)

The Chinese MOFCOM conditionally approves the acquisition of a semiconductor company for display and digital home platforms by a semiconductor company for wireless communications and digital multimedia solutions (MediaTek / MStar)
University of Melbourne
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China Competition Bulletin (Beijing)
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Institute of American Studies (Beijing)
On 26 August 2013, MOFCOM announced that it had conditionally approved the acquisition of MStar Semiconductor Inc. (MStar) by MediaTek Inc. (MediaTek). MediaTek is a fabless semiconductor company for wireless communications and digital multimedia solutions, and MStar is a semiconductor (...)

The Competition Tribunal of South Africa approves a merger in the petrochemical and mining sector within four hours of receiving the Competition Commission’s recommendation (Stefanutti Stocks / Energotec)
Nortons (Sandton)
South African Competition Tribunal approves merger in record time of 4 hours* The South African Competition Tribunal received notice of, heard and approved the acquisition by construction firm, Stefanutti Stocks (Pty) Ltd, of Energotec, which is a division of First Strut (Pty) Ltd, and (...)

The US FTC agrees to "unusual" remedy in hospitals merger case (Phoebe Putney Health System)
Jones Day (Washington DC)
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Jones Day (Washington DC)
The U.S. Federal Trade Commission has settled its long running dispute with the Phoebe Putney Health System, Palmyra Park Hospital, and the Hospital Authority of Albany-Dougherty County over the Hospital Authority’s acquisition of Palmyra in Albany, Georgia. Memorialized in a consent decree, the (...)

The Higher Regional Court Düsseldorf overrules decision of the Bundeskartellamt to free merger under remedies between two cable operators (Liberty Global / KabelBW)
Berlin School of Economics and Law
Recently, the Higher Regional Court Düsseldorf ("Court") overruled the decision of the Bundeskartellamt, the German competition authority, to free the merger between two cable operators, Liberty Global and KabelBW. The court decision is the outcome of an appeal procedure initiated by two (...)

The Chinese MOFCOM conditionally approves the EUR 3 billion acquisition of a medical technology company (Baxter & Gambro)
King & Wood Mallesons (Beijing)
MOFCOM Conditionally Cleared Baxter’s $4 Billion Acquisition of Gambro* On August 13, 2013, China’s Ministry of Commerce (MOFCOM) announced on its website that it has conditionally approved the $4 billion acquisition of Swedish medical technology company Gambro AB by Baxter International. (...)

The European Commission conditionally clears merger between two US commercial airlines while the US DOJ sues to block deal (US Airways / American Airlines)
Van Bael & Bellis (Brussels)
On 5 August 2013, the European Commission conditionally approved the proposed merger between US Airways Group and AMR Corporation, the parent company of American Airlines. Both US Airways and American Airlines are major US commercial airlines. The Commission examined the competitive (...)

The New York Attorney General settles remedies regarding the merger between two leading online food ordering services in Manhattan (Seamless / GrubHub)
Ashurst (Milan)
NY Attorney General reaches settlement with two leading online food ordering services in Manhattan* On 5 August 2013 NY Attorney General stated that he reached a settlement with Seamless North America, LLC and GrubHub, two leading online food ordering services in Manhattan, in order to address (...)

The German Competition Authority forbids a previously approved acquisition in the healthcare sector since the acquirer no longer intends to comply with conditions for clearance (Asklepios / Rhön)
German Competition Authority (Bonn)
Participation of Asklepios Group in rival Rhön-Klinikum retroactively prohibited - Asklepios no longer intends to comply with condition for clearance (sale of Goslar clinics)* Bonn, 30 July 2013: In spring this year the Bundeskartellamt approved plans by Asklepios Kliniken (...)

The French Competition Authority clears, subject to conditions, the merger between two companies manufacturing earthenware construction materials (Bouyer-Leroux / Imerys TC)
French Competition Authority (Paris)
Press Release published on the official website of the French Competition Authority. The Autorité de la concurrence clears, subject to conditions, the acquisition of Imerys TC assets by Bouyer-Leroux. The commitments made by Bouyer-Leroux enable the removal of all risks to competition in the (...)

The German Competition Authority clears acquisition on the market for cash handling services (Prosegur Compania de Seguridad / Brink)
German Competition Authority (Bonn)
Bundeskartellamt clears mergers of cash handling services (CIT) companies* Prosegur’s acquisition of Brink’s only cleared subject to conditions relating to the Berlin market The Bundeskartellamt has cleared the acquisition of Brink’s Deutschland GmbH and Brink’s Transport und Service GmbH by the (...)

The French Competition Authority clears, subject to commitments, an acquisition of sole control in the market of food retail (Casino / Monoprix)
French Competition Authority (Paris)
Press Release published on the official website of the French Competition Authority. The Autorité de la concurrence clears, subject to commitments, the acquisition of sole control of Monoprix by Casino Casino undertakes to divest 55 shops in Paris and 3 in the French département of Var and in (...)

The Italian Competition Authority opens a monitoring proceedings for a conditionally cleared concentration in the ferry sector (CIN/Tirrenia)
Desogus Law Office (Cagliari)
By a decision made on 18 June 2013 the Italian Competition Authority (ICA) has opened a monitoring proceedings under Article 19 of the Competition Act n. 287/1990 against CIN and Moby to verify compliance with the conditional authorization of the CIN/Tirrenia merger in the ferry sector . The (...)

The Hungarian Competition Authority publishes its revised merger regulations (Fúziós Dokumentumok)
Hungarian Competition Authority (Budapest)
The revised merger documents of the GVH come into force on 1 August* The Hungarian Competition Authority (GVH) modified its merger notice dealing with the differentiation between simplified (first phase) and full (second phase) proceedings, and the merger notification form. The documents are (...)

The French Competition Authority approves the implementation of an injunction after a merger in the pay TV sector (Canal Plus / TPS)
French Competition Authority (Paris)
Press Release published on the official website of the French Competition Authority. The Autorité de la Concurrence approves three reference offers from the Groupe Canal Plus, after amendments. The first one regulates access of independent channels to distribution services by CanalSat; the (...)

The UK Competition Commission, unlike the French NCA, rules that operator of channel tunnel between Great Britain and France may no longer offer ferry services from Dover (Eurotunnel / SeaFrance / MyFerryLink)
Jones Day (London)
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British Competition Authority - CMA (London)
The UK Competition Commission (“CC”) has prohibited Eurotunnel from operating ferry services at the port of Dover, following its June 2012 acquisition of three SeaFrance vessels. The decision is notable for two reasons. First, this decision differed from that of the French Competition Authority (...)

A US District Court starts hearings in a class action case where the plaintiffs argue that a previously concluded DoJ settlement failed to ameliorate the competitive harm occasioned by the removal of a direct competitor and price maverick (AB InBev / Grupo Modelo)
King & Wood Mallesons (Sydney)
This article was originally published on In Competition by King & Wood Mallesons (click here). Closing time* Given our previous posts on the topic you would be forgiven for thinking we have a particular interest in Corona sales. Rather, the AB InBev / Grupo Modelo merger has been (...)

The Finnish Competition and Consumer Authority welcomes Market Court decision (Uponor / KWH)
Finnish Competition and Consumer Authority (Helsinki)
Competition and Consumer Authority welcomes Market Court decision in Uponor/KWH matter* The Finnish Market Court decided in its ruling on May 24, 2013 to set stringent conditions for a corporate acquisition deal by Uponor and KWH Group. The court ruled in accordance with a proposal made by the (...)

The Danish Competition Council approves modification of merger commitments in relation to an acquisition on the market for supply of pure alcohol (Arcus / Pernod Ricard)
Danish Competition and Consumer Authority (Copenhagen)
The Danish Competition Council Approves a Modification of Commitment by Arcus-Gruppen Holding AS to Sell the Aquavit Brand ’’Brøndums’’ On September 26 2012 The Danish Competition Council (“DCC”) cleared the acquisition of Pernod Ricard Denmark A/S by Arcus-Gruppen Holding AS (“Arcus”). The DCC’s (...)

The Finnish Market Court conditionally approves a merger in the plumbing and indoor climate systems sector and rejects the Competition Authority’s proposal to block the creation of a joint venture (Uponor / KWH)
Roschier (Helsinki)
On 24 May 2013 the Finnish Market Court handed down its first decision in a case utilising the recently enacted New Competition Act and the so-called SIEC (significant impediment of effective competition) test. The Market Court broke ground on many levels when it rejected the Competition and (...)

The Brazilian CADE analyzes two international mergers with intense cooperation with EU DG-Competition indicating a new approach for international merger review in Brazil (Mach/Syniverse, Munksjö/Ahlstrom)
Brasilian Administrative Council for Economic Defense (CADE) (Brasilia)
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Vinicius Marques de Carvalho Advogados (VMCA) (Sao Paulo)
CADE has recently analyzed two international mergers with intense cooperation with DG-Competition. In fact, these two cases reflect the advances brought by new Competition Law. In the previous law, CADE would only analyze cases after their approval by other jurisdictions. With the institution (...)

The Polish Competition Authority gives conditional consent to a merger in the retail of bottled gas sector (Gaspol / Orlen Gaz)
WKB Wierciński Kwieciński Baehr (Warsaw)
In its decision of 20 May 2013, the President of the Office of Competition and Consumer Protection (the “OCCP President” or the “PCA”) has given her conditional consent for Gaspol to acquire a part of assets of Orlen Gaz. Both undertakings operate on the sales market of bottled gas. Gaspol applied (...)

The President of the Office of Competition and Consumer Protection clears a merger on the LPG distribution market in Poland and imposes a set of remedies, including behavioural (Gaspol/Orlen Gaz)
Markiewicz & Sroczynski
I. The Facts On 25 July 2012 Gaspol S.A. with its seat in Warsaw (“Gaspol”) notified the President of the Office of Competition and Consumer Protection (“OCCP”) of its intention to acquire the business of bottled liquified petroleum gas (“LPG”) from Orlen Gaz Sp. z o.o. with its seat in Plock (“Orlen (...)

The US FTC requires divestiture of production and intellectual property assets before clearing an acquisition in the market for desktop hard drives (Western Digital / Hitachi GST)
Sheppard Mullin (New York)
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WilmerHale (Washington)
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US Federal Trade Commission (FTC) (Washington DC)
On May 8, 2012, Western Digital Corporation (“Western Digital”) completed its acquisition of Viviti Technologies (formerly, Hitachi Global Storage Technologies Ltd., or, “Hitachi GST”) for approximately $4.8 billion, after the Federal Trade Commission (“FTC”) approved a consent order requiring (...)

The Chinese MOFCOM requests public comments on draft provisions concerning the evaluation, negotiation, implementation, monitoring, reconsideration of the remedies used in the conditional approvals issued as a result of the pre-merger review process
Sheppard Mullin (Beijing)
MOFCOM Requests Public Comments on Draft Provisions Related to Remedies Imposed in Conditional Approvals* Since the Anti-monopoly Law (“AML”) has come into effect in August 2008, MOFCOM has issued 16 conditional approvals requiring certain structural or behavioral remedies in order to prevent (...)

The Finnish Competition and Consumer Authority approves acquisition but attached conditions (Elisa & PPO)
Finnish Competition and Consumer Authority (Helsinki)
FCCA approved deal between Elisa and PPO but attached conditions* The Finnish Competition and Consumer Authority (FCCA) decided on 24 April 2013 to approve the deal in which Elisa Corporation acquires control of the companies PPO-Yhtiöt Oy, Kymen Puhelin Oy and Telekarelia Oy. However, the FCCA (...)

The Chinese MOFCOM imposes complex behavioural remedies after identifying potential concerns about impact on competition in the import to China of soy beans (Marubeni / Gavilon)
First Principles Economics (London)
On the 23rd April 2013 MOFCOM published its 2nd merger decision of the year. It was a clearance, with conditions, of the merger between Marubeni Corp, a publicly listed company headquartered in Japan, and Gavilon Holdings LLC, a privately held company based in the USA. Process The parties (...)

The Chinese MOFCOM announces conditional clearance for a merger in the sensitive market of agriculture and food products (Marubeni / Gavilon)
Hogan Lovells (Beijing)
Recent Developments in Chinese Merger Control – MOFCOM Shifts up a Gear* The Chinese Ministry of Commerce (“MOFCOM“) has stepped up its merger control activities on many fronts in recent weeks, issuing ground-breaking decisions in the Glencore/Xstrata and Marubeni/Gavilon cases and circulating (...)

The Chinese MOFCOM cleares conditionally an acquisition in the grain trading sector (Marubeni / Gavilon)
King & Wood Mallesons (Beijing)
MOFCOM Cleared Marubeni’s Acquisition of Gavilon with Conditions* On April 22, 2013, the Ministry of Commerce (“MOFCOM“) cleared the proposed acquisition of Gavilon Holdings, LLC (“Gavilon“) by Marubeni Corp (“Marubeni“) (the “Transaction”) with conditions. This is the second case conditionally (...)

The US DOJ shows flexibility in crafting structural remedies in merger between two leading brewers (Anheuser-Bush InBev / Grupo Modelo)
Jones Day (Washington DC)
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Jones Day (Washington DC)
The U.S. Department of Justice ("DOJ") has reached a settlement with Anheuser-Busch InBev ("ABI") and Grupo Modelo S.A.B. de C.V. ("Modelo"), requiring ABI to divest Modelo’s entire U.S. business to Constellation Brands Inc. ("Constellation"). The consent decree provides for a straightforward (...)