The Portuguese merger regime narrows the time limits for control and the time frame to notify takeover bids (Act, 2 Nov. 2006)

The Portuguese Government recently adopted Decree Law 219/2006 of 2 November 2006 (“DL 219/2006” ). This diploma intends to implement Directive 2004/25/EC of the European Parliament and of the Council, of 21 april 2004, on takeover bids (OJEU L 142, 30 April 2004, pp. 12-23 ; “European Takeover Directive” ). The Portuguese Government also took the opportunity offered by the implementation of this Directive to amend - for the first time - the Portuguese Competition Act (Law n°18/2003 of 11 June 2003, hereinafter “Competition Law”). The intended effect of the amendments seems to have been, as stated in the preamble of DL 219/2006, the reduction of the merger control time limits. Amendments narrowing the time frame to notify takeover bids (Article 9) The original wording of article 9(2) of

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Miguel Gorjão-Henriques, Madalena Sutcliffe, The Portuguese merger regime narrows the time limits for control and the time frame to notify takeover bids (Act, 2 Nov. 2006), 2 November 2006, e-Competitions November 2006, Art. N° 12742

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