The European Commission approves the acquisition of Belgian chemical firms by German industrial company, applying the ’failing firm’ defence (BASF/Pantochim/Eurodiol)

"BASF/Pantochim/Eurodiol: Change of direction in European merger control?"* In the context of competition policy, probably nothing can be discussed with greater relish than the concept of the rescue package merger, known as ‘failing firm defence’. The debate begins by considering whether a merger leading to a dominant market position – approved within the merger control mechanism by applying the failing firm defence – can be regarded as consistent with the general principles of competition policy. Following on directly but in somewhat more specific terms, there tends to be a great deal of controversy about whether and to what extent a rescue function concept can be applied at all within the legal framework of the EU’s merger control regulations. Finally, there are bound to be differences

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Andreas Strohm, The European Commission approves the acquisition of Belgian chemical firms by German industrial company, applying the ’failing firm’ defence (BASF/Pantochim/Eurodiol), 11 July 2001, e-Competitions Bulletin July 2001, Art. N° 39027

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