1. Introduction German merger control notification thresholds are extremely low and a large number of transactions are notified to the German Federal Cartel Office (Bundeskartellamt"FCO") every year. For example, 2231 notifications were submitted to the FCO in 2007 [1]. However, a notification is not required in Germany if the total size of the market affected by the transaction is de minimis, i.e., less than €15 million. In its recent interim ruling in the Asphaltmischwerke Langenthal case, the Düsseldorf Court of Appeal provided important guidance on the interpretation of the de minimis exemption and, in particular, on the application of the so-called "bundle theory" which constrains the application of the de minimis exemption. 2. German Merger Control Thresholds Pursuant to § 35(1)
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A German Court of Appeals reinforces the application of the de minimis exemption for merger control by constraining the application of the “bundle theory" (Asphaltmischwerke Langenthal)
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