The Danish Competition Authority holds that companies have pre-implemented a merger under scrutiny, leading to the first case of gun jumping (EY / KPMG)

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 first time the DCCA finds that a merger has been pre-implemented. Gun jumping is a criminal offence under the Danish Competition Act; hence, fines may be imposed. EY (previously known as Ernest & Young) and KPMG are both among the big four international accounting networks providing audit, tax, legal and advisory services. Both businesses are present locally in Denmark and worldwide via an international network. Under an agreement between Ernest & Young Europe LLP (EY) and KPMG

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  • Gorrissen Federspiel (Copenhagen)

Quotation

Michael Klöcker, The Danish Competition Authority holds that companies have pre-implemented a merger under scrutiny, leading to the first case of gun jumping (EY / KPMG), 17 December 2014, e-Competitions December 2014, Art. N° 70935

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