The German and Austrian Competition Authorities publish an updated joint guidance on transaction value thresholds

The German Bundeskartellamt and the Austrian Bundeswettbewerbsbehörde have updated their joint guidance on the application of their respective transaction value thresholds for mandatory merger notifications (the "Guidelines") on December 23, 2021. [1] The authorities initially published the Guidelines in July 2018 to help interpreting the, at the time, newly introduced transaction value thresholds under German [2] and Austrian [3] merger control law. As per these additional thresholds, transactions remaining below the primary turnover thresholds can still be notifiable in case the value of their consideration exceeds €400 million (Germany) or € 200 million (Austria), and where the target has substantial domestic operations. [4] In addition to explaining how to determine the value of