Merger Remedies

Mergers

The OECD holds a roundtable on conglomerate effects of mergers
OECD - Competition Division (Paris)
Conglomerate effects arise when a merger has an effect on competition, but the merging firms’ products are not in the same product market, nor are they inputs or outputs of one another. Mergers exhibiting conglomerate effects have taken on a new prominence in the digital era, as the largest (...)

The EU Commission approves acquisition of global pharma company’s animal health division by animal health company subject to divestments (Bayer / Elanco Animal Health)
DG COMP (Brussels)
Mergers: Commission approves acquisition of Bayer’s animal health division by Elanco, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Bayer AGs animal health division by Elanco Animal Health Inc. The decision is (...)

The Australian Competition Authority seeks public comment on proposed divestments in an animal health business merger (Bayer / Elanco)
Australian Competition and Consumer Commission (Canberra)
Elanco proposes divestments of some animal health products in Bayer acquisition* The ACCC is seeking views on a divestment undertaking offered by Elanco in relation to its proposed acquisition of Bayer Aktiengesellschaft’s animal health business. The ACCC has preliminary competition concerns (...)

The US FTC finishes public consultation period and clears pharmaceutical merger subject to divestments in highly concentrated markets that supply biopharmaceutical companies with key inputs (Danaher / GE Biopharma)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Settling Charges that Danaher Corporation’s Acquisition of GE Biopharma Was Anticompetitive* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Danaher Corporation’s acquisition of GE Biopharma would likely (...)

The EU Commission waives all structural remedies committed to by merging pharmaceutical parties due to new significant permanent changes in market conditions during the divestiture process (Takeda / Shire)
DG COMP (Brussels)
Mergers: Commission waives the commitments made by Takeda to obtain clearance of its acquisition of Shire* The European Commission has waived, under the EU Merger Regulation, the commitments made by Takeda to obtain clearance of its acquisition of Shire. The Commission approved the (...)

The US FTC clears merger of medical device companies subject to divestment of one’s myoelectric elbows business to competitors (College Park Industries / Össur Hf)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Imposing Conditions on Össur Hf’s Acquisition of College Park Industries, Inc.* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Össur Hf’s proposed acquisition of College Park Industries, Inc. would violate (...)

The French Competition Authority clears merger in food retail sector in La Réunion after in-depth investigation, subject to conditions (Vindémia / Groupe Bernard Hayot)
French Competition Authority (Paris)
Food retail sector in La Réunion: the Autorité de la concurrence clears the acquisition of Vindémia by Groupe Bernard Hayot, subject to conditions* On 24 January 2020, Groupe Bernard Hayot (GBH) notified the Autorité de la concurrence of its acquisition of sole control of Vindémia Group, which (...)

The Dutch Competition Authority conditionally allows a joint venture of the nation’s largest public-transport company and of the transport network company to create a travel app together (Dutch Railways NS / Pon)
Netherlands Authority for Consumers & Markets (The Hague)
Mobility service provider Pon en Dutch Railways NS are conditionally allowed to create travel app together* Dutch Railways NS and Pon are allowed to create a new company, which will operate an app that allows consumers to plan, book and pay for their trips, combining different modes of (...)

The Chinese State Administration for Market Regulation clears an acquisition in auto parts sector subject to conditions (ZF / WABCO)
King & Wood Mallesons (Beijing)
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King & Wood Mallesons (Beijing)
On 15 May 2020, the State Administration for Market Regulation (“SAMR”) in China conditionally approved ZF Friedrichshafen AG (“ZF”)’s acquisition of WABCO Holdings, Inc. (“WABCO”, ZF and WABCO collectively as the “Parties”) following a 180-day extended Phase 2 review. It is noteworthy that the SAMR is (...)

The US DoJ files proposed final judgment with US District Court for the Northern District of Ohio requiring divestiture following historic arbitration win (Novelis / Aleris Corporation)
US Department of Justice - Antitrust Division (Washington)
Justice Department Requires Divestiture Following Historic Arbitration Win* Divestiture Will Preserve Competition for Aluminum Automotive Body Sheet in North America The Department of Justice announced today that it has filed a proposed final judgment with the U.S. District Court for the (...)

The UK Competition Authority blocks sports-fashion merger finding that even with COVID-19 significantly impacting the relevant sector there would still be negative effects on the competition if the merger proceeded (JD Sports / Footasylum) Free
United Kingdom’s Competition Authority - CMA (London)
CMA blocks sports-fashion merger* The CMA has blocked JD Sports’ purchase of close competitor Footasylum after finding it would leave shoppers worse off. Following an in-depth Phase 2 investigation, the Competition and Markets Authority (CMA) has concluded that this transaction would lead to a (...)

The US FTC clears merger of 2 Big Pharma companies after they agreed to divest 3 drugs businesses (AbbVie / Allergan)
US Federal Trade Commission (FTC) (Washington)
FTC Imposes Conditions on AbbVie Inc.’s Acquisition of Allergan plc* Agency requires companies to divest three drugs Pharmaceutical companies AbbVie Inc. and Allergan plc have agreed to divest assets to settle Federal Trade Commission charges that AbbVie’s proposed $63 billion acquisition of (...)

The Kenyan Competition Authority approves a merger, subject to conditions, between two telecommunications companies (Airtel / Telkom)
Mosoti & Company advocates (Kenya)
Kenya’s Competition Tribunal: Airtel/Telkom merger generates first decision* On 4th May 2020, the Kenyan Competition Tribunal made its first decision after considering the application for review of the Airtel-Telkom merger where they contested 7 out of 8 the conditions imposed. The competition (...)

The US DoJ moves to block acquisition of a major dairy farmer’s fluid milk processing plants to another out of bankruptcy in Illinois, Wisconsin, and New England, but approves a third dairy farmer buying plants in in the South and Midwest (Dairy Farmers of America / Dean Foods) (Dean Foods / Prairie Farms)
US Department of Justice - Antitrust Division (Washington)
Justice Department Requires Divestitures as Dean Foods Sells Fluid Milk Processing Plants to DFA out of Bankruptcy* Department Also Closes Investigation into Acquisition of Other Dean Plants by Prairie Farms The Department of Justice announced today the conclusion of its investigation into (...)

The UK Competition Authority clarifies its general approach to assessing mergers and its specific approach to assessing "failing firm" claims during the COVID-19 pandemic Free
United Kingdom’s Competition Authority - CMA (London)
COVID-19: CMA approach to merger assessments* The CMA has today provided more detail on its general approach to assessing mergers during the Coronavirus (COVID-19) pandemic. Following its statement about working practices issued on 18 March, the Competition and Markets Authority (CMA) has set (...)

The EU Commission clears merger of generic Big Pharma company with a competitor’s generic division, subject to divestment of business for certain generic medicines (Mylan / Upjohn)
DG COMP (Brussels)
Mergers: Commission approves the merger of Mylan and Pfizer’s Upjohn division, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed merger between the global pharmaceutical company Mylan and Upjohn, a business division of Pfizer, which (...)

The EU Commission conditionally clears an acquisition between a pharmaceutical company and an off-patent medicines producer and distributor (Milan / Upjohn)
Van Bael & Bellis (Brussels)
On 22 April 2020, the Commission conditionally cleared Dutch pharmaceutical company Mylan’s acquisition of Upjohn, a division of Pfizer. Upjohn, which is based in China, produces and distributes off-patent branded and generic medicines. Mylan is also active in the production and distribution of (...)

The UK Competition Appeal Tribunal rejects an appeal against the Competition Authority’s merger decision in the cleaning chemicals sector (Ecolab / Holchem)
Baker Botts (London)
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Baker Botts (Brussels)
On 21 April 2020, the Competition Appeals Tribunal (the “CAT”) handed down its judgment (the “Judgment”) rejecting the appeal of Ecolab Inc. (“Ecolab”), a global company incorporated in the US, against the CMA’s merger decision on Ecolab’s acquisition of The Holchem Group Ltd (“Holchem”), a UK-based (...)

The US FTC approves final order settling charges that merger of polyurethane foam producers was anticompetitive (FXI Holdings / Innocor)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Settling Charges that Merger of Polyurethane Foam Producers Was Anticompetitive* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that the merger of polyurethane foam producers FXI Holdings, Inc. and Innocor, (...)

The Finnish Competition Authority clears merger of steel structure suppliers, subject to divesting a production plant in the market that would have restrictive effects on competition (Donges Teräs Oy / Ruukki Building Systems Oy)
Finnish Competition and Consumer Authority (Helsinki)
FCCA approved Donges Teräs Oy’s acquisition of Ruukki Building Systems Ltd, subject to conditions* On 17 April 2020, the Finnish Competition and Consumer Authority (FCCA) conditionally approved the merger in which Donges Teräs Oy will acquire Ruukki Building Systems Oy. The competition problems (...)

The US FTC proposes new order settling all charges that manufacturer of law enforcement equipment entered into anticompetitive agreements with seller of body-worn camera systems when they entered a merger of their businesses (Safariland / Axon / VieVu)
US Federal Trade Commission (FTC) (Washington)
VieVu’s Former Parent Company Safariland Agrees to Settle Charges That It Entered into Anticompetitive Agreements with Body-Worn Camera Systems Seller Axon* Settlement is part of a larger case challenging Axon’s consummated acquisition of former competitor VieVu Safariland, LLC, which (...)

The Peruvian Competition Authority clears merger of electric generation undertakings, subject to supplying energy through competitive and transparent tenders or competitive bids (China Three Gorges Corporation / Luz del Sur and Inland Energy)
Peruvian Competition Authority - INDECOPI (Lima)
Indecopi authorizes the acquisition of Luz del Sur, as long as the Company supplies energy through competitive and transparent tenders or competitive bids that protect competition and consumer´s interest* The Commission for the Defense of Free Competition of Indecopi (CLC) decided to approve (...)

The US FTC clears merger of 2 veterinary service providers subject to divestments in 3 geographic markets (Compassion First / National Veterinary Associates)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Imposing Conditions on Veterinary Service Providers Compassion First and National Veterinary Associates* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Compassion First’s proposed $5 billion acquisition (...)

The UK Competition Authority states that a private hospital merger will be cleared if it can address local competition concerns, and recognizes the difficulty faced by merging parties due to the COVID-19 pandemic (Circle Health / BMI Healthcare) Free
United Kingdom’s Competition Authority - CMA (London)
Private hospital merger to be approved if local concerns addressed* The CMA has found that the completed merger between Circle and BMI does not raise UK-wide competition concerns but could reduce competition in 2 local areas. Both Circle and BMI provide elective care to NHS and privately (...)

The UK Competition Authority recognizes that merging construction companies might be heavily affected by COVID-19 pandemic, but still requires them to address competition concerns before clearing the merger (Kingspan / Building Solutions) Free
United Kingdom’s Competition Authority - CMA (London)
Construction products merger raises competition concerns* The CMA has found that Kingspan’s anticipated purchase of Building Solutions raises competition concerns in the supply of specialist insulation panels. Kingspan is the leading provider in the UK of standard foam sandwich panels, which (...)

The US FTC clears merger of prosthetic limbs manufacturers, subject to divestment of myoelectric elbow business (Össur Hf / College Park Industries)
US Federal Trade Commission (FTC) (Washington)
FTC Imposes Conditions on Össur Hf’s Acquisition of College Park Industries, Inc.* Conditions to remedy competition loss in the U.S. market for myoelectric elbows Össur Hf and College Park Industries, Inc., both makers of prosthetic limbs, have agreed to divest College Park’s myoelectric elbow (...)

The EU Commission approves an acquisition subject to conditions in the airlines services market (Lufthansa / Gategroup)
De Berti Jacchia Franchini Forlani (Brussels)
In-flight catering services. The Commission approves a new merger* On 3 April 2020 the Commission has approved, under the EU Merger Regulation, the proposed acquisition of the European business of Lufthansa Service Group (“LSG”) by Gategroup, notified on 14 February 2020, subject to the latter (...)

The EU Commission conditionally clears an acquisition of a Swiss company providing catering, retail and other airline services (Lufthansa / Gategroup)
Van Bael & Bellis (Brussels)
On 3 April 2020, the European Commission (the “Commission”) approved Gategroup’s acquisition of the Lufthansa Service Group’s European business (“LSG EU”). Gategroup is a Swiss company that provides catering, retail and other airline services globally. German-based LSG EU is active in train and (...)

The US District Court for the District of Columbia enters final judgment in merger of third and fourth largest telecommunications providers and allows proposed structural remedies to proceed (T-Mobile / Spring)
US Department of Justice - Antitrust Division (Washington)
Court Enters Final Judgment in T-Mobile/Sprint Transaction: Order Allows Divestitures to Proceed* Today, a federal district court in Washington, D.C., concluded that the Antitrust Division’s resolution of its challenge to the merger between T-Mobile and Sprint was in the public interest and (...)

The US DoJ challenges a merger which highlights key considerations for antitrust reviews of aerospace and defence industry transactions (United Technologies / Raytheon)
McDermott Will & Emery (Washington)
The DOJ Antitrust Division’s recent challenge to the United Technologies/Raytheon merger highlights a few key considerations for antitrust reviews of aerospace and defense industry transactions. The case is a useful illustration of important principles applicable to this unique industry. IN (...)

The US DoJ requires divestitures in merger of two national defence contractors in order to address vertical and horizontal antitrust concerns (United Technologies Corporation / Raytheon)
US Department of Justice - Antitrust Division (Washington)
Justice Department Requires Divestitures in Merger Between UTC and Raytheon to Address Vertical and Horizontal Antitrust Concerns* Divestitures Will Preserve Competition in the United States for Military Airborne Radios, Military GPS Systems, and Reconnaissance Satellite Components The (...)

The US FTC clears a global biopharmaceutical merger subject to a number of divestments in highly concentrated product markets for ten products that companies use to manufacture biopharmaceutical drugs (Danaher Corporation / GE Biopharma)
US Federal Trade Commission (FTC) (Washington)
FTC Imposes Conditions on Danaher Corporation’s Acquisition of GE Biopharma* Merger likely to reduce competition in highly concentrated markets that supply biopharmaceutical companies with key inputs Danaher Corporation has agreed to divest assets to settle Federal Trade Commission charges (...)

The Hungarian Competition Authority reopens a previously approved acquisition between two telecommunication players on the basis that the parties submitted false and misleading data during the notification and approval procedure (Invitel / GVH)
Bird & Bird (Budapest)
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Bird & Bird (Budapest)
The Hungarian Competition Authority (GVH) finally approved the acquisition of Invitel by DIGI, both significant players on the Hungarian telecoms market. However, with with a complex remedies package as published on 18 March 2020 (Vj/42/2018). As we already reported, the approval of the merger (...)

The US DoJ wins historic arbitration of a merger dispute forcing the merging parties to fully divest their entire aluminium auto body sheet operations in North America (Novelis / Aleris Corporation)
US Department of Justice - Antitrust Division (Washington)
Justice Department Wins Historic Arbitration of a Merger Dispute* Novelis Inc. Must Divest Assets to Consummate Transaction with Aleris Corporation The Department of Justice prevailed in a first-of-a-kind arbitration, which will resolve a civil antitrust lawsuit challenging Novelis’s proposed (...)

The French Competition Authority clears a merger subject to a structural remedy in the bakery market in La Réunion (Pain Frotté /Kin Siong / Lam Tow / Yong Wai Man)
French Competition Authority (Paris)
The Autorité de la concurrence clears, subject to conditions, the takeover, in La Réunion, of the bakery group Pain Frotté by the groups Kin Siong, Lam Tow and Yong Wai Man* The Pain Frotté group operates artisanal bakeries in La Réunion under the trade names “L’Ambassadeur”, “Délicatesses Casta” (...)

The German Competition Authority clears a merger between cinema chains subject to divestitures (CinemaxX / Cinestar)
German Competition Authority (Bonn)
Vue Group (CinemaxX) can acquire Cinestar cinemas subject to conditions* Bonn, 2. March 2020: The Bundeskartellamt has today cleared the merger between the cinema chains CinemaxX and Cinestar subject to the condition that the cinema operators divest cinemas at six different locations to other (...)

The French Competition Authority publishes its contribution to the debate on competition policy and digital challenges with a section dedicated to the redefinition of its merger control tools in the digital economy
Bird & Bird (Paris)
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Bird & Bird (Paris)
Since 2017, the French Competition Authority (FCA) has been working on the simplification and modernisation of merger control in France, which resulted in particular in: (i) several public consultations on new guidelines aiming at replacing the current ones in the course of 2020; (ii) a new (...)

The US District Court for the Southern District of New York clears merger between top third and fourth wireless communications providers with the judge using as main criteria testimony of "reasonable corporate executives" over conflicting economic testimonies which were deemed too static for the dynamic nature of the market at hand (State AGs / T-Mobile / Sprint)
Weil, Gotshal & Manges (New York)
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Weil, Gotshal & Manges (Washington)
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Weil, Gotshal & Manges (Washington)
T-Mobile’s Marathon to Acquire Sprint: Five Takeaways from the T-Mobile/Sprint Antitrust Litigation After almost two years of scrutiny by state and federal regulators and an ensuing court battle, T-Mobile US, Inc. (“T-Mobile”) is moving forward with its acquisition of Sprint Corporation (...)

The South African Competition Authority recommends approving the acquisition subject to a number of conditions (PepsiCo / Pioneer)
Nortons (Sandton)
South Africa: PepsiCo acquisition of Pioneer recommended for approval, at a price!* On 11 February 2020, the South African Competition Commission (SACC) recommended that PepsiCo’s acquisition of Pioneer Foods, be approved, subject to a number of conditions. Despite there being no material (...)

The Belgian Competition Authority approves a request from a major cinema complex operator, to lift one of the merger commitments previously imposed (Kinepolis)
Bird & Bird (Brussels)
On 11 February 2020, the Belgian Competition Authority (BCA) approved a request from the Kinepolis group, a major cinema complex operator, to lift one of the merger commitments which had been imposed on the group in the 90s. Since the creation of the Kinepolis group in 1997 following the (...)

The Polish Competition Authority conditionally approves a merger in the cable television and internet access market (Multimedia / Vectra)
Bird & Bird (Warsaw)
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Bird & Bird (Warsaw)
In August 2018, Vectra notified UOKiK about its planned acquisition of Multimedia Polska (Multimedia), a competing provider of cable television and Internet access. Following its initial assessment of the planned transaction, UOKiK initiated the second stage of its proceedings in September (...)

The Pakistan Competition Authority approves an acquisition between two application-based ride-sharing service companies despite extremely high market concentration levels and efficiencies failing to outweigh the adverse effects of lessening of competition (Careem / Uber Technologies)
McGill University - Department of Law (Montreal)
The Competition Commission of Pakistan (hereinafter “CCP” or “the Commission”) through its order dated 31 January 2020 (“the Order”) approved the acquisition of Careem by Uber Technologies, Inc., transforming the duopolistic market of application-based ridesharing services into a monopolistic market. (...)

The EU Commission clears a merger subject to remedies in the pharmaceutical sector (AbbVie / Allergan)
DG COMP (Brussels)
Mergers: Commission approves AbbVie’s acquisition of Allergan, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Allergan by AbbVie. The approval is conditional on the divestment of a product under development by Allergan to (...)

The German Competition Authority conducts parallel investigation into potential for cartelization and merger review proceedings resulting in a conditional approval of the joint venture (Telekom / EWE)
Van Bael & Bellis (Brussels)
Telekom and EWE, two of Germany’s largest telecommunications companies, sought to form a joint venture (JV) to expand the fire-optic broadband network in north-western Germany. On 21 March 2019, the German Federal Cartel Office (FCO) launched two sets of parallel proceedings: an investigation (...)

The Dutch Competition Authority confirms the commitment to dissolve the joint venture by two port towing undertakings (Port Towage Amsterdam)
Bird & Bird (The Hague)
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Bird & Bird (The Hague)
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Bird & Bird (The Hague)
PORT TOWING JOINT VENTURE DISSOLVED AFTER INVESTIGATION BY THE DUTCH COMPETITION AUTHORITY: FULL-FUNCTIONALITY QUESTIONED* Background On 20 December 2019, the Dutch Authority for Consumers & Markets (ACM) published a decision in which the commitment to dissolve the joint venture Port (...)

The Canadian Commissioner of Competition files an application with the Competition Tribunal challenging the acquisition by an undertaking of a primary grain elevator (P&H / Virden Elevator / Louis Dreyfus)
Davies Ward Phillips & Vineberg (Toronto)
HE KNOWS WHEN YOU’VE BEEN NAUGHTY: CANADA’S COMPETITION COMMISSIONER DELIVERS LUMPS OF COAL TO MERGING PARTIES* In his own version of the pre-holiday rush, the Canadian Commissioner of Competition challenged one merger transaction just before the Christmas holidays and entered into a consent (...)

The EU Commission clears a merger subject to remedies in the biotechnologies market (Danaher / GE Healthcare Life Sciences’ Biopharma Business)
DG COMP (Brussels)
Mergers: Commission approves Danaher’s acquisition of GE Healthcare Life Sciences’ Biopharma Business, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of General Electric’s Healthcare Life Sciences Biopharma Business by Danaher (...)

The French Competition Authority clears a merger subject to remedies in the hearing aids sector (Audilab / Demant)
French Competition Authority (Paris)
Sale of hearing aids: the Autorité de la concurrence clears the acquisition of Audilab by the Demant group, subject to conditions.* Background After an in-depth examination of the hearing aids sector in its 2016 sector-wide inquiry and having made several recommendations aiming to ensure its (...)

The Brazilian Competition Authority’s Tribunal discusses the possibility of increasing the legal limits for fines in gun jumping cases (IBM / Red Hat)
Vinicius Marques de Carvalho Advogados (VMCA) (Sao Paulo)
IBM Red Hat case triggers discussion on gun jumping fine* CADE’s Tribunal debates changing the limits for fines, which would be currently outdated for high-value transactions. In the context of an Administrative Proceeding to Investigate a Merger (APAC, in its Portuguese acronym), CADE’s (...)

The OECD holds a roundtable on merger control in dynamic markets
OECD - Competition Division (Paris)
The modern competition dynamics observed in rapidly-evolving sectors, such as high-technology, consumer services and online retail, is challenging the role of competition authorities in merger control, where enforcement decisions fundamentally depend on an effects-based analysis of the likely (...)

The German Competition Authority clears the plans of telecommunications companies to jointly expand and operate fiber-optic networks (Telekom Deutschland / EWE)
Bird & Bird (Düsseldorf)
The German Federal Cartel Office (“FCO”) has cleared the plans of Telekom Deutschland GmbH and EWE AG to jointly expand and operate fiber-optic networks in parts of North West Germany. This is a landmark decision by the FCO in relation to the expansion of fiber optic networks in Germany, (...)

The EU Commission clears a merger, subject to remedies, in the markets for batteries and portable battery chargers (Varta / Energizer)
DG COMP (Brussels)
Mergers: Commission approves Varta AG’s acquisition of Energizer’s divestment business, subject to conditions* The European Commission has approved, under the EU Merger Regulation, Varta AG as a suitable purchaser of assets divested by Energizer in order to acquire Spectrum Brands’ batteries and (...)

The French Competition Authority conditionally clears a merger in the construction industry (Point P Travaux Publics / Frans Bonhomme)
French Competition Authority (Paris)
Green light, subject to conditions, to the acquisition of Point P Travaux Publics by Frans Bonhomme* On 18 October 2019, Frans Bonhomme notified the Autorité de la concurrence of its plan to acquire control of one of its competitors, Distribution de Matériaux pour les Travaux Publics (...)

The Italian Competition Authority clears a merger subject to remedies in the natural gas distribution market (AcegasApsAmga / Ascopiave)
Italian Competition Authority (Rome)
Antitrust: The acquisition of control of the business units of AcegasApsAmga S.p.A. by Ascopiave S.p.A. authorized with conditions* On 19 November 2019, the Italian Antitrust Authority authorized, with remedies, the acquisition of control of the business units of AcegasApsAmga S.p.A. by (...)

The Italian Competition Authority conditionally clears a merger in the market for distribution of natural gas (Rami Distribuzioni)
Desogus Law Office (Cagliari)
With a II-Phase conditional clearance decision, the Italian Competition Authority (ICA) has closed the review of the merger notified in the Rami Distribuzioni case. The ICA had concerns that the merger might negatively affect competition in the market for the distribution of natural gas. (...)

The EU Commission clears a merger subject to remedies in the market of telecommunications and TV broadcasting (Telia / Bonnier Broadcasting)
DG COMP (Brussels)
Mergers: Commission clears Telia’s acquisition of Bonnier Broadcasting, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Bonnier Broadcasting by Telia. The approval is conditional on full compliance with a commitments (...)

The EU Commission clears subject to behavioural commitments a merger in the telecommunications sector (Telia / Bonnier Broadcasting)
Van Bael & Bellis (Brussels)
On 12 November 2019, the European Commission (“Commission”) conditionally cleared Telia Company’s acquisition of Bonnier Broadcasting Company after a Phase II investigation. Telia is a Swedish telecommunications company that provides fixed and mobile telecommunications, broadband and television (...)

The French State Council upholds the decision of the French Competition Authority regarding the fine handed down to a merged company for non-compliance with its remedies (Darty / Fnac)
French Competition Authority (Paris)
The Conseil d’Etat confirms the decision regarding the fine handed down to Fnac Darty for non-compliance with its commitments* In a judgment dated 7 November 2019, the Conseil d’Etat confirmed the whole of the decision 18-D-16 by which the Autorité fined Fnac Darty €20 million for failing the (...)

The US FTC confirms the acquisition of a rival lessens competition in the market for microprocessor-driven prosthetic knees (Otto Bock / Freedom)
Cadwalader Wickersham & Taft (New York)
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Cadwalader Wickersham & Taft (Charlotte)
BUYER BEWARE: FTC ORDERS UNWINDING OF A CONSUMMATED TRANSACTION* What happened? On November 6, 2019, the Federal Trade Commission (“FTC”) voted 5-0 to uphold Administrative Law Judge D. Michael Chappell’s initial decision that Otto Bock HealthCare GmbH’s (“Otto Bock”) acquisition of rival Freedom (...)

The French Competition Authority decides to not renew remedies previously imposed to clear a merger in the telecommunications sector (SFR / Altice)
French Competition Authority (Paris)
Acquisition of SFR by Altice: the Autorité de la concurrence will not renew the commitments and maintains certain injunctions* Given changes to the markets, the Autorité de la concurrence will not renew the commitments made by Altice upon acquiring SFR. However, the injunctions with penalty (...)

The Spanish Competition and Markets Authority fines company for for a merger commitment breach (Telefonica)
Gomez Acebo & Pombo (Brussels)
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Gomez Acebo & Pombo (Brussels)
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Gomez Acebo & Pombo (Brussels)
The CNMC has fined Telefonica 1.5 million for breaching one of the commitments attached to its acquisition of DTS. The merger was cleared in 2015 by the CNMC on the condition that Telefonica fulfilled a number of commitments in the pay TV market. This included, among others, making (...)

The UK Competition and Markets Authority orders a divesture and blocks a merger in the cleaning chemicals sector (Ecolab / Holchem)
Van Bael & Bellis (Brussels)
On 8 October 2019, the UK’s Competition and Markets Authority (“CMA”) ordered Ecolab to divest Holchem, effectively blocking the merger of two of the largest cleaning chemicals suppliers in the UK. Ecolab bought Holchem in November 2018. The CMA launched a merger inquiry in February 2019, which (...)

The EU Commission clears a merger, subject to remedies, in the production of aluminium automotive body sheets market (Novelis / Aleris)
DG COMP (Brussels)
Mergers: Commission clears Novelis’ acquisition of Aleris, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the acquisition of Aleris by Novelis. The decision is conditional on the divestiture of Aleris’ aluminium automotive body sheets business in (...)

The French Competition Authority clears a merger, subject to pre-acquisition divestitures in the food and non-food wholesale and semi-wholesale sector (Cayenne supermarket / Super NKT)
French Competition Authority (Paris)
Acquisition of Cayenne supermarket Super NKT* The Autorité de la concurrence cleared the acquisition, subject to conditions, of the company NDIS and its subsidiary NG Kon Tia by SAFO (Huyghues-Despointes Group), which will be conditional on a divestiture prior to the acquisition of the (...)

The Czech Competition Authority clears a merger of three competitors in the retail and online stores with furniture and home accessories (XLCEE / Kika / Lambda)
Bird & Bird (Prague)
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Bird & Bird (Prague)
The Office for the Protection of Competition allows a merger of three competitors – XLCEE-Holding Gmbh and companies Kika Nábytek, s.r.o. (Kika CZ) and Lambda Properties Czechia, s.r.o. (Lambda CZ), provided that structural obligations set out in order to maintain the effective competition are (...)

The Dutch Ministry of Economic Affairs and Climate grants a licence, overruling the Competition Authority’s decision, for overriding public interests including the continuity and affordability of high quality in the postal services sector (PostNL / Sandd)
Bird & Bird (The Hague)
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Bird & Bird (Amsterdam)
In February of this year, PostNL announced its intention to acquire rival operator Sandd. In view of the rapidly declining postal volumes, the two operators consider the combination of their nationwide postal networks necessary to ensure continuity and affordability of postal services. On (...)

The UK Competition Authority fines a company for breaching merger control rules in the mobile point-of-sale devices sector (Paypal / iZettle)
Van Bael & Bellis (Brussels)
On 24 September 2019, the UK’s Competition and Markets Authority (“CMA”) fined Paypal £ 250,000 for breaching its freezing order that halted integration of the parties during its review of Paypal’s completed acquisition of the Swedish start-up iZettle. Despite having approved the deal in June 2019, (...)

The UK Competition Authority imposes its largest fine for a single breach of an interim enforcement order in a merger (Paypal / iZettle)
Herbert Smith Freehills (London)
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Herbert Smith Freehills (London)
On 24 September 2019 the UK Competition and Markets Authority (CMA) imposed its largest ever fine for a single breach of an interim enforcement order (IEO) on Paypal, in the context of its acquisition of iZettle. IEOs are now routinely imposed in almost all completed mergers investigated by (...)

The EU Commission clears a merger subject to remedies in the market for the supply of electricity (E.ON / Innogy)
DG COMP (Brussels)
Mergers: Commission clears E.ON’s acquisition of Innogy, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the acquisition by E.ON of Innogy’s distribution and consumer solutions business as well as certain of its electricity generation assets. The (...)

The French Competition Authority opens a public consultation in order to revise its merger guidelines
Autorité de la concurrence (Paris)
The Autorité de la concurrence opens a public consultation in order to revise its merger guidelines* Since autumn 2017, the Autorité has been involved in an important modernisation and simplification of merger control by easing the constraints on companies (see press release dated 25 April (...)

The French Competition Authority publishes a public consultation to gather feedback on its draft revised merger control guidelines
Bird & Bird (Paris)
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Bird & Bird (Paris)
The French Competition Authority (FCA) has recently launched a public consultation to gather feedback on its draft revised merger control guidelines. The new guidelines aim at replacing the current merger control guidelines which were adopted back in 2013. The adoption of these new guidelines - (...)

The French Competition Authority closes the ex officio proceedings to verify the compliance of remedies concerning a merger in the telecom sector (Altice France / SFR)
Autorité de la concurrence (Paris)
Telecoms* The Autorité closes the ex officio proceedings it had started to ensure compliance with the commitments concerning the sale of Completel’s DSL network made by Altice France when it acquired SFR. The Autorité considers that there is no evidence to characterise Altice France’s actions (...)

The French Competition Authority clears, subject to remedies, the creation of a TV platform by three television channels (Salto)
Autorité de la concurrence (Paris)
Pay Television Sector* The Autorité de la concurrence clears, subject to conditions, the creation of the Salto platform by TF1, France Télévisions and Métropole Télévision (M6) Background Following a referral decision by the European Commission, TF1, France Télévisions and Métropole Télévision (...)

The French Competition Authority clears, subject to remedies, a merger between two agricultural cooperatives (D’Aucy / Triskalia)
Autorité de la concurrence (Paris)
Agricultural cooperatives* The Autorité de la concurrence clears, subject to several conditions, the merger of agricultural cooperatives D’Aucy and Triskalia Background Agricultural and agrifood cooperative groups D’Aucy and Triskalia notified the Autorité de la concurrence of their planned (...)

The French Competition Authority clears a merger subject to remedies in the car publication market (Mondadori / Reworld Media)
Autorité de la concurrence (Paris)
Magazines* The Autorité de la concurrence clears, subject to conditions, the acquisition of Mondadori France (Biba, Grazia, Modes & Travaux) by Reworld Media (Marie France, Maison & Travaux, Auto Moto) Background Press group Reworld Media notified the Autorité of its planned (...)

The EU Commission clears a merger subject to remedies in the telecommunication market (Vodafone / Liberty Global)
DG COMP (Brussels)
Mergers: Commission clears Vodafone’s acquisition of Liberty Global’s cable business in Czechia, Germany, Hungary and Romania, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition by Vodafone of Liberty Global’s cable business in (...)

The EU Commission conditionally clears a merger in the cable network market in four countries (Vodafone / Liberty Global)
Van Bael & Bellis (Brussels)
On 18 July 2019, the European Commission (“Commission”) conditionally approved Vodafone’s acquisition of Liberty Global’s cable network business in four countries (Czechia, Germany, Hungary and Romania). In order to address competition concerns identified mainly in Germany regarding the ability of (...)

The EU Commission clears the acquisition, subject to remedies, of a cable business company (Vodafone / Liberty Global)
Bird & Bird (Düsseldorf)
On 18 July 2019, the European Commission (“EC”) cleared the acquisition of Liberty Global’s cable business by Vodafone in Germany, Czechia, Hungary and Romania subject to remedies. The concerns of the EC mainly related to the German market. In particular, the EC was worried that the transaction (...)

The Italian Competition Authority conditionally approves a banking merger upon a divestiture remedy (BPER / Unipol Banca)
Desogus Law Office (Cagliari)
In the BPER/Unipol Banca case the Italian Competition Authority (ICA) has conditionally authorized the acquisition of Unipol Banca Spa (UP) by BPER Banca Spa (BPER) . The ICA took the view that the proposed merger might restrain competition in many banking markets in the region of Sardinia (...)

The EU Commission clears a merger subject to remedies in the pharmaceutical market (GlaxoSmithKline / Pfizer Consumer Health Business)
DG COMP (Brussels)
Mergers: Commission approves GlaxoSmithKline’s acquisition of Pfizer’s Consumer Health Business, subject to conditions* Commission has approved, under the EU Merger Regulation, the acquisition of Pfizer’s Consumer Health Business by GlaxoSmithKline. The decision is conditional upon the global (...)

The Irish Competition and Consumer Protection Commission clears, subject to a divestment remedy, an acquisition between two companies in the rental and maintenance of flat linen to customers in the healthcare and hospitality sectors (Elis / Kings Laundry)
Trinity College Dublin
Introduction 1. On 8 July 2019 the Competition and Consumer Protection Commission (CCPC), Ireland’s competition agency, cleared the acquisition by Berendsen Ireland Limited (Berendsen), ultimately controlled by Elis S. A. (Elis), of Kings Laundry Limited (Kings Laundry), subject to a divestment (...)

The EU Commission clears a merger subject to remedies in the air transport of passengers market (Flybe / Connect Airways)
DG COMP (Brussels)
Mergers: Commission approves the acquisition of Flybe by Connect Airways, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the acquisition of UK regional air carrier Flybe by Connect Airways, a consortium by Virgin Atlantic, Stobart Aviation and (...)

The Danish Competition Authority clears a merger subject to remedies in the market of retail provision of TV services via fibre optic infrastructure (SE / Eniig)
Danish Competition and Consumer Authority (Copenhagen)
The Danish Competition Council has approved the merger between SE a.m.b.a and Eniig a.m.b.a. subject to remedies* On 21 December 2018 the Danish Competition and Consumer Authority (hereinafter “DCCA”) received a complete notification of the merger between SE a.m.b.a. (hereinafter “SE”) and Eniig (...)

The EU Commission clears a merger subject to remedies in the markets of night vision devices and handheld video data links (L3 Technologies / Harris Corporation)
DG COMP (Brussels)
Mergers: Commission approves acquisition of L3 Technologies by Harris Corporation, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of L3 Technologies by Harris Corporation, both aerospace and defence companies based in the (...)

The Spanish Competition Authority investigates a possible infringement of merger commitments in the telecom sector (Telefónica)
Gomez Acebo & Pombo (Brussels)
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Gomez Acebo & Pombo (Brussels)
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Gomez Acebo & Pombo (Brussels)
In 2015, the CNMC approved the acquisition of DTS by Telefónica, subject to a series of commitments relating to the pay television market. Telefónica undertook, inter alia, to make available 100% of its premium channels to third-party operators under conditions which would allow them to (...)

The French Competition Authority clears a merger in the cardboard sector following remedies accepted by EU Commission (International Paper Company / DS Smith)
Autorité de la concurrence (Paris)
Cardboard sector* In part of commitments that are conditions for the European Commission’s approval of the acquisition of Europac by DS Smith, the Autorité de la concurrence gives clearance to International Paper Company to acquirethe two Normandy plants of DS Smith Packaging Normandie On 14 (...)

The Austrian Competition Authority conditionally clears a merger in the hardware and software sector (Carl Zeiss/GOM)
Van Bael & Bellis (Brussels)
On 13 June 2019, the Austrian Federal Competition Authority cleared the acquisition of GOM, a supplier of hardware and software for automated 3D-coordinate metrology, by Carl Zeiss, a technology company in the optical and optoelectronic industry. The clearance is subject to commitments. Among (...)

The UK Competition Authority clears the takeover of a mobile payments company after conducting an in-depth Phase 2 probe (PayPal / iZettle)
CRA International (London)
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CRA International (London)
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CRA International (Boston)
Acquisitions of Potential Rivals in Digital/Tech: Valuation Analysis as Key Economic Tool - PayPal/iZettle Antitrust authorities everywhere are increasingly concerned with so-called “killer acquisitions” – cases where an established incumbent buys up a small rival which might have the potential (...)

The UK Competition Authority clears an acquisition of a Swedish fintech company after completing an in-depth phase II review (PayPal / iZettle)
Freshfields Bruckhaus Deringer (London)
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Freshfields Bruckhaus Deringer (London)
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Freshfields Bruckhaus Deringer (London)
The Competition and Markets Authority (CMA) has provisionally cleared PayPal’s $2.2 billion acquisition of Swedish fintech company iZettle after completing an in-depth, Phase 2 review. The CMA’s decision comes amidst mounting pressure on antitrust authorities to scrutinise deals involving digital (...)

The Czech Competition Authority clears a merger subject to remedies in the bread market (Agrofert / Ub Holding)
Czech Competition Authority (Brno)
AGROFERT IS ALLOWED TO TAKE OVER UNITED BAKERIES, BUT IT HAS TO SELL OFF SEVERAL FACILITIES* On 23 May 2019, the Office for the Protection of Competition issued a decision approving AGROFERT a.s. to take sole control over UB HOLDING a.s. and its subsidiary UNITED BAKERIES a.s., subject to a (...)

The Czech Competition Authority approves a merger, subject to structural commitments, in the wholesale market of bread products (Agrofert / United Bakeries)
Bird & Bird (Prague)
On 23 May 2019, the Czech Office for the Protection of Competition (“UOHS”) issued a decision approving AGROFERT a.s. ("AGROFERT") to take sole control over UB HOLDING a.s. and its subsidiary UNITED BAKERIES a.s., subject to a number of structural commitments which were accepted by the party to (...)

The Italian Competition Authority clears a merger subject to remedies in the retail pay-TV market (Sky / R2)
Italian Competition Authority (Rome)
ICA: authorisation with measures of the Sky/R2 merger (branch of Mediaset Premium)* On 20 May 2019, the Italian Competition Authority (AGCM) has concluded its investigation regarding the acquisition of certain assets of the digital terrestrial pay-TV owned by Mediaset Premium S.p.A. by Sky (...)

The Italian Competition Authority conditionally clears a merger in the market for retail Pay-TV services (Sky / R2)
Bird & Bird (Rome)
On 20th May 2019, the Italian Competition Authority (the "AGCM") cleared the merger between Sky Italia S.r.l.’s ("SKY") and R2 S.r.l. ("R2"), a company formerly owned by Mediaset Premium S.p.A. ("MP") and providing technical and administrative platform services for broadcasting by means of (...)

The Polish Competition Authority conditionally clears merger between two cinema operators (Multikino / Cinema 3D)
Polish Competition Authority (Warsaw)
CONDITIONAL CONSENT: MULTIKINO - CINEMA 3D* UOKiK gave consent to Multikino taking over Cinema 3D. The transaction may take place provided that the cinema of the acquired company will be sold in Galeria Morena in Gdańsk. The parties to the transaction are cinema operators. Multikino runs 32 (...)

The Polish Competition Authority conditionally clears a merger between multiplex cinema operators (Multikino / Cinema 3D)
White & Case (Warsaw)
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DG COMP (Brussels)
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White & Case (Warsaw)
THE POLISH PRESIDENT OF THE OFFICE OF COMPETITION AND CONSUMER PROTECTION CONDITIONALLY CLEARED A MERGER BETWEEN MULTIPLEX CINEMA OPERATORS* Background On 11 July 2018, the President of the Office of Competition and Consumer Protection (the “OCCP”) initiated merger clearance proceedings (...)

The Polish Competition Authority conditionally clears a merger in the fuel retail market (BP Europe / ARGE)
White & Case (Warsaw)
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DG COMP (Brussels)
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White & Case (Warsaw)
Background On 29 June 2018, the OCCP initiated the merger proceedings concerning acquisition of ARGE Nieruchomości sp. z o.o. (“ARGE RE”) and ARGE Paliwa sp. z o.o. (“ARGE”)’s assets from BP Europa (“BP”). More specifically, the proposed transaction considered the acquisition of several real estates (...)

The Belgian Competition Authority clears a merger subject to remedies in the TV channels platforms market (De Vijver Media / Telenet)
Belgian Competition Authority (Brussels)
The Competition College of the BCA has approved conditionally the acquisition of sole control of De Vijver Media by Telenet* the Competition College of the Belgian Competition Authority (BCA) has approved conditionally on 13 May 2019 the acquisition of sole control by Telenet Group BVBA (...)

The Belgian Competition Authority conditionally approves an acquisition of sole control in the media market (De Vijver Media / Telenet)
Bird & Bird (Brussels)
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Bird & Bird (Brussels)
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Bird & Bird (Brussels)
On 13 May 2019 the Belgian Competition Authority ("BCA") conditionally approved Telenet’s acquisition of sole control over De Vijver Media, after a referral by the European Commission ("EC"). The deal was originally notified to the EC on 4 October 2018. The EC already investigated Telenet’s (...)

The Czech Competition Authority clears a merger subject to remedies in the distribution market of non-original spare parts for light vehicles (LKQ / Heptus 292)
Czech Competition Authority (Brno)
THE OFFICE APPROVED THE MERGER OF LKQ AND HEPTUS 292 ON THE DISTRIBUTION MARKET OF NON-ORIGINAL SPARE PARTS, SUBJECT TO COMMITMENTS* On 10 May 2019, the Office for the Protection of Competition issued a decision authorizing LKQ German Holdings GmbH to take sole control over the company heptus (...)

The French Competition Authority clears a merger, subject to remedies, in the public passenger transport markets (RATP Dev / Keolis)
French Competition Authority (Paris)
Future connection Gare de l’Est - Paris-Charles de Gaulle Airport* The Autorité de la concurrence clears, subject to conditions, the creation by RATP Dev and Keolis of a joint undertaking for the operation of CDG Express On 29 November 2018, the companies RATP Dev and Keolis notified the (...)

The Ukrainian Competition Authority imposes a fine of EUR 1.8 million for ’gun jumping’ in a merger in the heavy industry sector, and does not clear the transaction due to economic sanctions on the seller’s beneficiary (TAS / Dniprometyz)
Redcliffe Partners (Kyiv)
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Redcliffe Partners (Kyiv)
The facts of the case On 8 November 2017, Devisal Limited, a Cyprus subsidiary of the financial/industrial group TAS (the "TAS Group"), filed a merger filing requesting the Antimonopoly Committee of Ukraine (the "AMC") to approve the acquisition of a controlling stake in the Private Joint (...)

The Spanish Competition Commission clears a merger in the healthcare industry subject to extensive remedies (Quirón Group / Santa Cristina Clinic)
Spanish Competition Authority (Madrid)
The CNMC approves the Quirón Group’s acquisition, with a complete package of commitments, of the Santa Cristina Clinic in Albacete*The merger is approved following intense work in the second phase and a complete package of commitments, which was subjected to successive market tests with its (...)

The Indian Competition Commission clears a merger, subject to remedies, in the electricity market (Larsen & Toubro/Schneider Electric)
Shardul Amarchand Mangaldas (New Delhi)
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Shardul Amarchand Mangaldas (New Delhi)
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Shardul Amarchand Mangaldas (New Delhi)
The CCI cleared the proposed acquisition of the electrical and automation business of Larsen & Toubro (L&T) by Schneider Electric and MacRitchie Investments (the Acquirers) on foot of a package of behavioural remedies proposed by the Acquirers. After a lengthy investigation, the CCI (...)

The EU Commission approves a company as a suitable purchaser of several steel plants (Liberty House Group / ArcelorMittal)
DG COMP (Brussels)
Mergers: Commission approves Liberty House Group purchase of ArcelorMittal’s divestment businesses* The European Commission has approved, under the EU Merger Regulation, Liberty House Group as a suitable purchaser of several ArcelorMittal steel plants, sold under commitments made by (...)

The EU Commission conditionally approves a merger to structural remedies in the refrigeration compressor business (Nidec / Embraco)
Van Bael & Bellis (Brussels)
On 12 April 2019, the Commission conditionally approved the acquisition by Nidec of Embraco, Whirlpool’s refrigeration compressor business. Both Nidec and Embraco are leading global producers of refrigeration compressors. These are electro-mechanical devices used to lower the temperature of an (...)

The EU Commission clears a merger, subject to remedies, in the market of speed refrigeration compressors (Nidec / Embraco)
DG COMP (Brussels)
Mergers: Commission approves Nidec’s acquisition of Embraco, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition by Nidec of Embraco, Whirlpool’s refrigeration compressor business. The approval is conditional on compliance with (...)

The Spanish Competition Authority authorizes the acquisition of a private hospital subject to behavioural commitments on the quality of the healthcare services (Clínica Santa Cristina)
Ramón y Cajal (Madrid)
Introduction On 12 April 2019 the Spanish Competition Authority (“CNMC”) authorized after a second phase review the acquisition of a private hospital located in the Spanish province of Albacete (Clínica Santa Cristina) by Quirón Group (the “Merger”), which is ultimately controlled by the global (...)

The Ankara 9th Administrative Court orders a stay of execution on a port acquisition after the Competition Board’s conditional clearance with behavioural remedies (Kumport)
ELIG Gürkaynak Attorneys-at-Law (Istanbul)
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ELIG Gürkaynak Attorneys-at-Law (Istanbul)
Background Limar Liman ve Gemi İşletmeleri A.Ş. (“Limar”), which is controlled by Arkas Holding A.Ş. (“Arkas”) notified to the Turkish Competition Authority (the “Authority”) its acquisition of the sole control over Mardaş Marmara Deniz İşletmeciliği A.Ş. (“Mardaş” or the “Target”) operating the Ambarlı (...)

The EU Commission clears a merger subject to remedies in the market of distribution of agricultural machinery (Agro / Konekesko Baltic)
DG COMP (Brussels)
Mergers: Commission approves Danish Agro’s acquisition of Konekesko’s Baltic and Finnish agrimachinery businesses, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the acquisition by Danish Agro of Konekesko’s agricultural machinery distribution (...)

The Belgian Competition Authority accepts partially a request to lift the remedies imposed to clear a merger in the cinema theatres market (Kinepolis)
Belgian Competition Authority (Brussels)
The Belgian Competition Authority has partially accepted the request of Kinepolis to lift the conditions imposed in 1997 and modified in 2010, as from 25 March 2019* On 31 March 2017 Kinepolis has filed a request to lift the conditions imposed by the Competition Council in 1997 in respect of (...)

The EU Commission conditionally approves a merger in the agrimachinery businesses in the Baltic countries (Danish agro / Konekesko)
Bird & Bird (Helsinki)
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Bird & Bird (Helsinki)
The recent decision of the European Commission (“EC”) regarding Danish Agro’s acquisition of Konekesko’s agrimachinery businesses in Finland, Estonia, Latvia and Lithuania provides for an interesting opportunity to compare the approach of the Finnish Competition and Consumer Authority (“FCCA”) and (...)

The EU Commission clears a merger subject to remedies in the markets of insurance broking services (JLT / MMC)
DG COMP (Brussels)
Mergers: Commission approves acquisition of Jardine Lloyd Thompson by Marsh & McLennan Companies, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the acquisition of Jardine Lloyd Thompson (“JLT”) by Marsh & McLennan Companies (“MMC”). The (...)

The EU Commission conditionally approves a merger in the market for aircraft slat systems (Spirit / Asco)
Van Bael & Bellis (Brussels)
On 20 March 2019, the Commission conditionally approved the acquisition of Asco by Spirit. The Commission was concerned that the deal would reduce competition in the market for aircraft slat systems. These parts allow the wing of an aircraft to operate at a higher ‘angle of attack’, which (...)

The UK Competition Authority fines a company for failure to comply with initial enforcement order (JLA / Washstation)
Van Bael & Bellis (Brussels)
On 8 March 2019, the UK’s Competition and Markets Authority (“CMA”) fined JLA £120,000 for failure to comply with an initial enforcement order (“IEO”). Under UK competition law, the CMA may impose an IEO on merging parties to prevent them from taking pre-emptive action which might prejudice the (...)

The French Competition Authority clears a merger, subject to remedies, in the markets of wine and spirits (Marie Brizard / COFEPP)
French Competition Authority (Paris)
Wine and spirits* The Autorité de la concurrence clears - subject to conditions - the acquisition of the group Marie Brizard On 3 January 2019, the Compagnie Financière Européenne de Prises de Participation (“Cofepp”) notified the Autorité de la concurrence its intention to acquire sole control of (...)

The Polish Competition Authority conditionally approves a merger between liquid carbon dioxide producers to structural and behavioural remedies (Air Products and Chemicals / ACP Europe / Eurocylinder)
Taylor Wessing (Warsaw)
On 25 February 2019, the acquisition of ACP Europe S.A. and Eurocylinder NV (subsidiaries of L’Acide Carbonique Pur) by Air Products and Chemicals, Inc. (“APC”) was conditionally approved by the Polish Competition Authority (“PCA”) (decision DKK-51/2019). The proposed foreign-to-foreign transaction (...)

The Polish Competition Authority clears a merger in the chemical sector imposing a combination of structural and behavioural remedies (Air Products and Chemicals / ACP Europe / Eurocylinder)
Greenberg Traurig Grzesiak (Warsaw)
On February 25, 2019 the President of the Polish Office of Competition and Consumer Protection (“OCCP”) issued a conditional decision (“Decision”) clearing the concentration consisting in the acquisition by Air Products and Chemicals Inc. (“Air Products”) of ACP Europe S.A. and Eurocylinder NV (...)

The EU Commission alleges a telecommunication company has breached its remedies following the clearance of its merger (Telefonica Deutschland)
DG COMP (Brussels)
Mergers: Commission alleges Telefónica breached commitments given to secure clearance of E-Plus acquisition* The European Commission has sent a Statement of Objections to Telefónica Deutschland alleging the company breached commitments it offered to secure the Commission’s approval under the EU (...)

The EU Commission issues first ever statement of objections for breaching a merger commitment in the telecommunication sector (Telefónica Deutschland)
Van Bael & Bellis (Brussels)
On 22 February 2019, the European Commission (“Commission”) sent a Statement of Objections to Telefónica Deutschland alleging that it breached a commitment offered in order to secure the Commission’s approval of its acquisition of E-Plus (see VBB on Competition Law, Volume 2014, No. 7). In (...)

The EU Commission sends statement of objections to a company for alleged infringement of merger commitments (Telefónica Deutschland)
Gomez Acebo & Pombo (Brussels)
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Gomez Acebo & Pombo (Brussels)
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Gomez Acebo & Pombo (Brussels)
On 22 February 2019, the Commission addressed an SoO to Telefónica Deutschland (“Telefónica”) detailing its concerns that the company may have breached one of the commitments linked to the Commission’s clearance of its acquisition of E-Plus in 2014. In particular, back then, Telefónica committed to (...)

The UK Competition Authority issues provisional findings in the potential merger between online retailers of delivered goods (Sainsbury / Asda)
Bird & Bird (London)
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Bird & Bird (London)
Sainsbury’s and Asda are the second and third largest grocery retailers in the UK respectively, and represent two of the four largest online retailers of delivered goods in the UK. Their networks include supermarkets, convenience stores and petrol filling stations. Both parties also retail (...)

The EU Commission clears a merger subject to remedies in the aquaculture sector (Amerra and Mubadala / Andromeda / Nireus and Selonda)
DG COMP (Brussels)
Mergers: Commission approves the acquisition of joint control of Andromeda, Nireus and Selonda by Amerra and Mubadala, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control over Andromeda, Nireus and Selonda, all active in (...)

The EU Commission lifts commitments adopted in a merger case based on exceptional circumstances review (Air France / KLM)
Van Bael & Bellis (Brussels)
In a recently published decision of 6 February 2019, the European Commission waived a commitment imposed during its merger review of Air France’s acquisition of KLM in 2004. By way of background, during the 2004 review of its acquisition of KLM, Air France offered commitments to address (...)

The EU Commission clears a merger subject to remedies in the flexible packaging for medical use and for food products sectors (Amcor / Bemis)
DG COMP (Brussels)
Mergers: Commission approves merger between Amcor and Bemis, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the merger between Amcor and Bemis. Both companies manufacture flexible packaging products worldwide. The approval is conditional on the (...)

The French Competition Authority re-examines and eases merger remedies made by a leading pay TV provider (Canal+ International)
French Competition Authority (Paris)
Pay TV in French overseas departments and regions* The Autorité de la concurrence has re-examined the commitments made by Canal+ International as part of the take-over of Mediaserv (now Canal+ Telecom) in 2014. Certain obligations have been maintained to preserve the competitive dynamic. (...)

The Mexican Competition Authority clears a merger in the entertainment industry subject to structural remedies (Disney / Fox)
Mexican Competition Authority (Mexico City)
Clarification on Disney/Fox transaction* Mexico City, February 6, 2019.- In August 2018, the Walt Disney Company (Disney) and Twenty-First Century Fox (Fox) notified, both the Federal Economic Competition Commission (COFECE or Commission) and the Federal Institute for Telecommunications (...)

The EU Commission prohibits a merger in the market of railway signalling systems and very high-speed trains (Siemens / Alstom)
DG COMP (Brussels)
Mergers: Commission prohibits Siemens’ proposed acquisition of Alstom* The European Commission has prohibited Siemens’ proposed acquisition of Alstom under the EU Merger Regulation. The merger would have harmed competition in markets for railway signalling systems and very high-speed trains. The (...)

The EU Commission prohibits a merger in the rolled copper products market (Wieland / Aurubis / Schwermetall)
DG COMP (Brussels)
Mergers: Commission prohibits Wieland’s proposed acquisition of Aurubis Rolled Products and Schwermetall* The European Commission has prohibited, under the EU Merger Regulation, Wieland’s proposed acquisition of Aurubis Rolled Products and Aurubis’ stake in Schwermetall. It had serious concerns (...)

The EU Commission prohibits a merger in the market for railway signalling and very high-speed trains (Siemens / Alstom)
Van Bael & Bellis (Brussels)
On 6 February 2019, the European Commission (“Commission”) prohibited Siemens’ proposed acquisition of Alstom under the EU Merger Regulation. The deal would have combined Siemens’ and Alstom’s transport equipment and service activities in a new company fully controlled by Siemens. According to the (...)

The EU Commission prohibits a merger between producers of rolled copper products (Wieland / Aurubis / Schwermetall)
Van Bael & Bellis (Brussels)
On 6 February 2019, the European Commission (“Commission”) prohibited Wieland’s proposed acquisition of Aurubis. Both companies are producers of rolled copper products, a key input for many industries, including for parts used in electric cars, trains and electronic devices. The Commission’s (...)

The Irish Competition Authority clears a merger subject to remedies in the waste sector (Panda / Knockharley Landfill)
Irish Competition Authority (Dublin)
CCPC requires commitments from Panda to secure approval for acquisition of Knockharley Landfill* The Competition and Consumer Protection Commission (CCPC) has cleared, subject to binding commitments, the proposed acquisition of Knockharley Landfill Limited (Knockharley), by Pandagreen Limited (...)

The French Competition Authority clears a merger by approving in advance remedies in the market of fabrication and marketing of baking aids (Alsa / Dr. Oetker)
French Competition Authority (Paris)
Confection and marketing of baking aids* The Autorité de la concurrence clears the acquisition of Alsa by Dr. Oetker (Ancel) by approving a commitment which addresses in advance competition issues (“fix-it-first” commitment), by granting a credible market player a license for the Ancel brand On (...)

The US FTC conditionally approves a merger in the office supply market subject to behavioural remedies (Staples / Essendant)
McDermott Will & Emery (Washington)
THE LATEST: FTC Allows Problematic Vertical Merger to Proceed with a Behavioural Remedy* On January 28, the US Federal Trade Commission (FTC) announced that it had accepted a proposed settlement with office supply distributors Staples and Essendant in connection with Staples’ proposed $482.7 (...)

The US FTC approves a merger in the office products market subject to behavioural remedies (Staples / Essendant)
Constantine Cannon (New York)
FTC Approval of Staples-Essendant Merger Exposes Fault Lines on Merger Enforcement* The U.S. Federal Trade Commission’s (“FTC”) recent approval of Staples, Inc.’s acquisition of office supply wholesaler Essendant, Inc.—on a party-line three-to-two vote—reveals the agency’s divergent political views (...)

The UK Competition Authority imposes structural remedies concerning a merger in the washroom suppliers market (Rentokil Initial / Cannon Hygiene)
United Kingdom’s Competition Authority - CMA (London)
CMA orders sale of customer contracts in washroom suppliers’ merger* Rentokil Initial must sell several large supply contracts to satisfy CMA concerns over its merger with Cannon Hygiene. The decision by the Competition and Markets Authority (CMA) comes after an in-depth Phase 2 investigation (...)

The Finnish Competition Authority clears a merger subject to remedies in the market for outsourced internal logistics services (Suomen Transval Group / Posti Group)
Finnish Competition and Consumer Authority (Helsinki)
The FCCA approves Posti’s acquisition of Transval, subject to conditions* Finnish Competition and Consumer Authority (FCCA) has approved, subject to conditions, the acquisition of Suomen Transval Group Oy by Posti Group Oyj. A condition for the approval of the acquisition was that Posti (...)

The French Competition Authority clears the creation of a joint undertaking subject to remedies in VAT refund services markets (Global Blue / Planet Payment)
French Competition Authority (Paris)
The Autorité de la concurrence clears, subject to conditions, the creation of the Cash Paris Tax Refund company by Global Blue and Planet Payment* A transaction referred by the European Commission On 21 August 2018, the European Commission referred to the Autorité de la concurrence the review (...)

The Dutch Competition Authority clears a merger subject to remedies in the pharmaceutical sector (Apotex / Aurobindo)
Netherlands Authority for Consumers & Markets (The Hague)
ACM clears merger between pharmaceutical companies Aurobindo and Apotex* The Netherlands Authority for Consumers and Markets (ACM) has cleared the acquisition of pharmaceutical company Apotex by rival company Aurobindo. The clearance was granted after the companies had proposed to sell (...)

The UK Competition Authority issues its Merger remedies guidance
United Kingdom’s Competition Authority - CMA (London)
Guidance on merger remedies in Phase 1 and Phase 2 investigations.* This guidance is intended for merger parties and their advisers. It seeks to provide a single source of guidance on remedies for Phase 1 and Phase 2 merger investigations. This guidance applies to any Phase 1 merger (...)

The EU Commission clears a merger subject to remedies in the market of batteries (Spectrum Brand / Energizer)
DG COMP (Brussels)
Mergers: Commission approves acquisition of Spectrum Brands’ batteries and portable lighting business by Energizer, subject to conditions* The European Commission has approved under the EU Merger Regulation the acquisition of Spectrum Brands’ batteries and portable lighting business by (...)

The EU Commission clears a merger subject to remedies in the data security solutions market (Gemalto / Thales)
DG COMP (Brussels)
Mergers: Commission approves acquisition of Gemalto by Thales, subject to conditions* The European Commission has approved under the EU Merger Regulation the proposed acquisition of Gemalto by Thales. The approval is conditional on the divestment of Thales’ general purpose hardware security (...)

The EU Commission clears a merger subject to remedies in the ceilings manufacturing market (Armstrong / Knauf)
DG COMP (Brussels)
Mergers: Commission approves acquisition of Armstrong’s ceilings business outside the Americas by Knauf, subject to conditions* The European Commission has conditionally approved under the EU Merger Regulation the acquisition of Armstrong World Industries’ ceilings business outside the Americas (...)

The EU Commission clears a merger subject to remedies in the market for the manufacture and supply of wood pulp (Fibria / Suzano)
DG COMP (Brussels)
Mergers: Commission approves acquisition of Fibria by Suzano, subject to conditions* The European Commission has approved under the EU Merger Regulation the acquisition of Fibria by Suzano, both active in the production and supply of wood pulp from eucalyptus trees. The decision is conditional (...)

The Italian Competition Authority conditionally clears a merger in the optical sector (Luxottica / Barberini)
Desogus Law Office (Cagliari)
Closing a Second Phase investigation in the Luxottica/Barberini case, the Italian Competition Authority (ICA) has conditionally cleared a merger between two major players in the optical industry. After an in-depth review of the transaction, the ICA took the view that the notified merger may (...)

The EU Commission clears a merger subject to remedies in the markets for corrugated case materials, sheets and cases (Europac / DS Smith)
DG COMP (Brussels)
Mergers: Commission approves acquisition of Europac by DS Smith, subject to conditions* The European Commission has approved under the EU Merger Regulation the acquisition of Europac by DS Smith, both manufacturers of paper and packaging products. The decision is conditional on the divestment (...)

The EU Commission conditionally clears the creation of six joint ventures for mobility services (Daimler / BMW)
Van Bael & Bellis (Brussels)
On 7 November 2018, the European Commission conditionally approved the creation of six mobility services joint ventures by Daimler and BMW. While the joint ventures will combine Daimler and BMW’s mobility services in ride hailing services, parking services, charging services and other on-demand (...)

The EU Commission clears the creation of six joint ventures in the automobile sector, subject to remedies (Daimler / BMW)
DG COMP (Brussels)
Mergers: Commission clears the creation of six joint ventures by Daimler and BMW, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the creation of six joint ventures by Daimler and BMW, subject to conditions. Daimler and BMW, both active in car (...)

The EU Commission clears a merger, subject to remedies, in the markets of production and distribution of films for release in movie theatrers and distribution of content for home entertainment and licensing of films and other TV content (Fox / Disney)
DG COMP (Brussels)
Mergers: Commission approves Disney’s acquisition of parts of Fox, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of parts of Fox by Disney, both US based global media companies. The decision is conditional on full (...)

The Danish Competition Council approves a merger between two private insurance companies based on the commitments submitted by one of them (Tryg / Alka)
Danish Competition and Consumer Authority (Copenhagen)
The Danish Competition Council has approved the merger between Tryg Forsikring A/S and Forsikrings-Aktieselskabet Alka subject to commitments* On 19 March 2018 the Danish Competition and Consumer Authority (hereinafter “DCCA”) received a complete notification of Tryg Forsikring A/S’ (hereinafter (...)

The Czech Competition Authority clears a merger subject to remedies in the soft drink market (Pepsico / KMV)
Czech Competition Authority (Brno)
KMV is allowed to take control over part of Pepsi business, subject to commitments* The Office for the Protection of Competition issued on 30 October 2018 a decision approving the concentration between soft drinks producers, subject to fulfilment of several structural commitments. The (...)

The EU Commission clears a merger subject to remedies in the market of dietetic pet food sold by veterinarians (Mars Petcare / AniCura)
DG COMP (Brussels)
Mergers: Commission approves Mars’ acquisition of AniCura, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the acquisition of AniCura, a veterinary clinic chain, by Mars, a supplier of pet food, including dietetic pet food. The approval is (...)

The Mexican Competition Authority accepts commitments by pharmaceutical companies to restore competition in the pharma market (Moench Coöperatif / Luis Doporto Alejandre)
Ritch Mueller (Mexico City)
Through a decision issued by the plenary session of Cofece on August 13, 2015 on case file CNT-074-2015 (the ’Decision’), the Mexican antitrust authority decided to unconditionally clear the acquisition, by Dutch fund Moench Coöperatif of a major pharmaceutical distributor in Mexico, Marzam. The (...)

The UK Competition Authority imposes structural remedies to clear a merger in the market of the supply of managed laundry services (JLA / Washstation)
United Kingdom’s Competition Authority - CMA (London)
University laundry merger broken up by CMA* The CMA has decided that JLA must sell Washstation to preserve competition in the supply of managed laundry services to higher education providers. The decision by the Competition and Markets Authority (CMA) comes following an in-depth investigation (...)

The US DoJ conditionally approves a merger in the healthcare industry, subject to structural remedies (CVS / Aetna)
International Center for Law & Economics (Portland)
The DOJ’s approval of the CVS/Aetna Merger and vertical innovation by incumbents* Last week, the DOJ cleared the merger of CVS Health and Aetna (conditional on Aetna’s divesting its Medicare Part D business), a merger that, as I previously noted at a House Judiciary hearing, “presents a creative (...)

The US DoJ clears a merger between two vertically linked businesses due to sufficient competition in their respective markets subject to divestment of their horizontally overlapping business in the healthcare sector (CVS / Aetna)
Economists Incorporated (San Francisco)
Department of Justice Clears Merger of CVS and Aetna* The Department of Justice (DOJ) recently cleared the merger of CVS Health Corporation (CVS) and Aetna Inc. (Aetna), only requiring divestiture of Aetna’s horizontally overlapping Medicare Part D prescription drug plan business. Aetna is (...)

The US District Court for the Eastern District of Virginia orders to a defendant in private antitrust litigation to divest a manufacturing plant following a competitor’s merger challenge (Steves & Sons / Jeld-Wen)
Jones Day (Houston)
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Jones Day (Washington DC)
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Jones Day (Washington DC)
A federal district court has ordered a defendant in private antitrust litigation to divest a manufacturing plant following a competitor’s merger challenge. Although the decision is certain to be appealed, it may embolden customers or competitors wishing to challenge a transaction and create new (...)

The US District Court of Delaware spotlights the importance of antitrust risk-shifting provisions in merger agreements in the pharmaceutical sector (Akorn / Fresenius)
Baker Botts (Washington)
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Baker Botts (Brussels)
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Baker Botts (Washington)
As counsel involved in negotiating mergers, acquisitions, or other transactions know, provisions that allocate antitrust risk between buyer and seller, or between joint venture (JV) partners, are a common feature of merger and JV agreements. Such provisions are increasingly important in today’s (...)

The Portuguese Competition Authority clears a merger subject to remedies in the liquefied petroleum gas market (Repsol / Rubis)
Portuguese Competition Authority (Lisbon)
AdC clears the acquisition of Repsol’s LPG business in Madeira and Azores by Rubis, subject to conditions* The Portuguese Competition Authority (AdC) has accepted the divesture commitments brought forth by Rubis II Distribuição Portugal, and hence has approved Rubis’ acquisition of the existing (...)

The Irish Competition Authority clears a merger subject to remedies in the media sector (Reach / Northern / Shell Network)
Irish Competition Authority (Dublin)
CCPC clears media merger subject to confidentiality commitments* Following an extensive two-phase investigation, the Competition and Consumer Protection Commission (CCPC) has cleared, subject to binding commitments, the acquisition by Reach Plc (Reach) (formerly Trinity Mirror Plc) of Northern (...)

The French Competition Authority clears a merger subject to remedies in the retailing of gardening products market (Jardiland / InVivo)
Autorité de la concurrence (Paris)
Retailing of gardening products* The Autorité de la concurrence clears the acquisition of Jardiland group by InVivo group (Gamm Vert, Delbard) subject to divestiture of 11 stores Parties to the transaction On 29 June 2018, InVivo Retail group, a subsidiary of InVivo cooperative union, which (...)

The French Competition Authority clears a merger subject to remedies in the food retail distribution sector (Bernard Hayot / Géant Casino)
Autorité de la concurrence (Paris)
Distribution in Martinique* The Autorité de la concurrence clears, subject to conditions, the acquisition by Bernard Hayot Group of a Géant Casino hypermarket in Martinique On 20 June 2018, Bernard Hayot Group (‘BHG’) notified the Autorité de la concurrence of its planned acquisition of a Géant (...)

The Irish Competition Authority clears a merger subject to remedies in the healthcare sector (SISK Healthcare / Uniphar Public)
Irish Competition Authority (Dublin)
CCPC obtains commitments from Uniphar to secure approval for proposed acquisition of SISK Healthcare* Following an extensive investigation, the Competition and Consumer Protection Commission (CCPC) has today cleared the proposed acquisition of sole control of SISK Healthcare by Uniphar Public (...)

The EU Commission clears a merger subject to remedies in the fresh produce distribution market (Total Produce / Dole)
DG COMP (Brussels)
Mergers: Commission approves Total Produce’s acquisition of Dole, subject to conditions* The European Commission has approved under the EU Merger Regulation the acquisition by Total Produce of joint control over Dole. Both companies supply bagged salads, bananas and other fresh fruit and (...)

The French Competition Authority fines a retailer and distributor of electronic products for failing to comply with its merger remedies (Fnac / Darty)
Autorité de la concurrence (Paris)
Fnac’s acquisition of Darty* The Autorité de la concurrence fines Fnac Darty Group €20 million for failing to divest itself of three stores, which was the pre-condition for clearance of the transaction. The Autorité also orders Fnac Darty to divest itself of two stores in lieu of those that it (...)

The French Competition Authority fines a retailer for failing to comply with its divestment commitments (Fnac / Darty)
McDermott Will & Emery (Paris)
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McDermott Will & Emery (Brussels)
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McDermott Will & Emery (Brussels)
On 27 July 2018 the French Competition Authority (FCA) imposed a EUR 20 million fine on Fnac Darty for failing to comply with its divestment commitments following Fnac’s acquisition of the Darty group. This is the first time the FCA has imposed a fine on a company for failing to comply with a (...)

The French Ministry of Economy clears “Phase III” review and imposes commitment to maintain employment (Cofigeo / Agripole)
Van Bael & Bellis (Brussels)
On 19 July 2018, the French Ministry of Economy (“Ministry”) announced a revised clearance of Cofigeo’s acquisition of the ready meals business of Agripole. This is the first time in the history of French merger control that the Ministry has reviewed a transaction on public interest grounds under (...)

The French Economic and Finance minister authorises a merger in the food sector, after using his power of re-examination for the first time (Cofigéo / Agripole)
McDermott Will & Emery (Brussels)
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McDermott Will & Emery (Paris)
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McDermott Will & Emery (Brussels)
Article L. 430-7-1, II of the French Commercial Code provides that the French Minister of Economy and Finance has the power to re-examine a merger within 25 working days after receiving the French Competition Authority (FCA) decision, for reasons of public interest other than safeguarding (...)

The Competition and Consumer Commission of Singapore announces a proposed infringement decision for substantial lessening of competition in the market of ride-hailing platform services (Grab / Uber)
King & Wood Mallesons (Melbourne)
1 STAR RATING: SINGAPORE REGULATOR FLAGS UNWINDING OF GRAB/UBER MERGER* On 5 July 2018, the Competition and Consumer Commission of Singapore (CCCS) announced that it had issued a proposed infringement decision against Grab Inc (Grab) and Uber Technologies, Inc (Uber) in relation to the sale of (...)

The EU Commission clears a merger, subject to remedies, in the titanium dioxide pigment market (Tronox / Cristal)
DG COMP (Brussels)
Mergers: Commission approves Tronox’s acquisition of Cristal, subject to conditions* The European Commission has approved under the EU Merger Regulation the acquisition of Cristal by Tronox, both major suppliers of titanium dioxide pigment. The approval is conditional on full compliance with (...)

The South African Competition Tribunal penalises a conditionally approved merger for failing to comply with its monitoring obligations (RTT Group)
Nortons (Sandton)
SOUTH AFRICA COMPETITION TRIBUNAL: MERGING PARTIES PENALISED FOR FAILURE TO COMPLY WITH PUBLIC INTEREST CONDITIONS* On 29 June 2018, the South African Competition Tribunal (Tribunal) penalised the RTO Group R75 000 for failing to comply with the Tribunal’s conditional merger approval in respect (...)

The EU Commission clears a merger subject to remedies in the manufacturing of pool equipment products market (Zodiac / Fluidra)
DG COMP (Brussels)
MERGERS: COMMISSION CLEARS ZODIAC AND FLUIDRA POOL EQUIPMENT JOINT VENTURE, SUBJECT TO CONDITIONS* The European Commission has approved under the EU Merger Regulation the proposed creation of a joint venture between the swimming pool equipment businesses of Zodiac and Fluidra. The approval is (...)

The Indian Competition Authority conditionally clears a merger in the agrochemicals and seeds industry (Bayer / Monsanto)
Shardul Amarchand Mangaldas (New Delhi)
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Shardul Amarchand Mangaldas (New Delhi)
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Shardul Amarchand Mangaldas (New Delhi)
In an order dated 14 June 2018, the Competition Commission of India (CCI) approved Bayer AG’s (Bayer) acquisition of Monsanto Company (Monsanto) (together, the Parties) subject to certain modifications. Shardul Amarchand Mangaldas & Co. represented Monsanto and assisted in seeking the CCI’s (...)

The French Competition Authority clears a merger, subject to remedies, in the market for the production and sale of ready meals (Financière Cofigeo / Agripole group)
French Competition Authority (Paris)
Acquisition of William Saurin* The Autorité de la concurrence clears the acquisition Financière Cofigeo of certain securities and assets of the ready meals arm of Agripole group (William Saurin, Panzani, Garbit) subject to two targeted divestments designed to maintain competition in the sector. (...)

The Indian Competition Authority approves acquisition of global agricultural company by global pharmaceutical company subject to permanent divestments and 7-year FRAND licensing of genetically modified and non-GM agricultural products (Bayer / Monsanto)
Vaish (New Delhi)
CCI approves the acquisition of Monsanto by Bayer AG subject to structural modifications* The CCI by its order dated June 14, 2018 has approved the proposed acquisition of Monsanto Company (Monsanto) by Bayer Aktiengesellschaft (Bayer). The CCI approved the proposed combination, subject to the (...)

The US District Court for the District of Columbia rejects the DOJ’s challenge to a vertical merger in the entertainment sector (AT&T / Time Warner)
Fried Frank Harris Shriver & Jacobson (New York)
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Fried Frank Harris Shriver & Jacobson (New York)
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Fried Frank Harris Shriver & Jacobson (Washington)
This article has been nominated for the 2019 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards. Court rejects DOJ challenge to AT&T / Time Warner vertical merger* In a much anticipated decision, Judge Richard Leon on June 12, 2018, rejected the (...)

The US District Court for the District of Columbia rejects the DoJ’s challenge to a vertical merger between an entertainment company and a distribution company (AT&T / Time Warner)
Jones Day (Washington DC)
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Jones Day (Washington DC)
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Jones Day (Houston)
This article has been nominated for the 2019 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards. Court Rejects DOJ Antitrust Challenge to AT&T/Time Warner* After eighteen months of investigation and litigation, a federal district court has rejected the (...)

The OECD holds a roundtable on considering non-price effects in merger control
OECD - Competition Division (Paris)
1. Introduction 1. When firms compete, they make a range of decisions about the characteristics of their products. Consumers make purchasing decisions based on at least some of these characteristics, which determine the value they obtain from the product. Price is one such characteristic, but (...)

The US FTC conditionally approves a vertical merger in the defence industry subject to behavioural remedies (Northrop Grumman / Orbital ATK)
McDermott Will & Emery (Washington)
Aerospace & Defense Series: Behavioral Remedies Remain a Viable Solution for Vertical Mergers in the Defense Industry* Summary The recent FTC decision in the Northrop Grumman / Orbital ATK matter has shed light on the agency’s vertical merger enforcement policy and outlined a path to (...)

The EU Commission clears for the second time a merger subject to remedies on the market for the wholesale of premium Pay TV film channels (Ziggo / Liberty Global)
DG COMP (Brussels)
Mergers: Commission confirms approval of acquisition of Dutch cable TV operator Ziggo by Liberty Global, subject to conditions* The European Commission has reapproved with conditions, under the EU Merger Regulation, the acquisition of Ziggo by Liberty Global. The merger was first approved in (...)

The EU General Court orders Commission to re-examine a request to review merger commitment (Lufthansa)
Van Bael & Bellis (Brussels)
On 16 May 2018, the General Court (“GC”) ruled that the European Commission had failed to properly examine a request by Lufthansa to review a merger commitment given by Lufthansa in order to secure EU merger clearance of its acquisition of Swiss Airlines. In order to allay competition concerns (...)

The EU General Court finds that the Commission must re-assess companies request to waive their pricing commitments (Lufthansa)
Gomez Acebo & Pombo (Brussels)
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Gomez Acebo & Pombo (Brussels)
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Gomez Acebo & Pombo (Brussels)
In 2005, the European Commission cleared the planned acquisition of Swiss by Lufthansa subject to a a number of commitments, which included conditions on fares with regard to the Zurich-Stockholm and Zurich-Warsaw routes. On 4 November 2013, Lufthansa and Swiss submitted a request for a (...)

The EU General Court annuls the Commission’s rejection of an airline’s request for a waiver of pricing commitments, ordering that they be reviewed (Lufthansa)
McDermott Will & Emery (Brussels)
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McDermott Will & Emery (Paris)
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McDermott Will & Emery (Brussels)
Deutsche Lufthansa AG is a joint founder member of Star Alliance, the largest global airline alliance. In addition to the Star Alliance Agreement, Lufthansa concluded with Scandinavian Airlines System (SAS) a bilateral alliance agreement, a marketing and sales agreement, and a bilateral joint (...)

The Turkish Competition Board approves the acquisition of control over chemical company based on commitments submitted to the EU Commission (Bayer / Monsanto)
ELIG Gürkaynak Attorneys-at-Law (Istanbul)
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ELIG Gürkaynak Attorneys-at-Law (Istanbul)
The Turkish Competition Board (“ Board ”) granted conditional approval to the acquisition of sole control over Monsanto Company (“ Monsanto ”) by Bayer Aktiengesellschaft (“ Bayer ”), by way of taking into account the commitments submitted before the European Commission (“ Commission ”). This case (...)

The Irish Competition Authority obtains remedies in order to clear a merger in the wholesale and retail market (4 Aces / BWG)
Irish Competition Authority (Dublin)
CCPC COMMITMENTS FROM BWG TO SECURE APPROVAL FOR PROPOSED ACQUISITION OF 4 ACES WHOLESALE* Following an extensive investigation, the Competition and Consumer Protection Commission (CCPC) has today cleared the proposed acquisition of 4 Aces Wholesale Limited (“4 Aces”) by BWG Foods Unlimited (...)

The EU Commission clears a merger subject to remedies in the steel wheels manufacturing market (Mefro Wheels / Accuride)
DG COMP (Brussels)
MERGERS: COMMISSION APPROVES ACQUISITION OF MEFRO WHEELS BY ACCURIDE, SUBJECT TO CONDITIONS* The European Commission has approved, under the EU Merger Regulation, the acquisition of steel wheels manufacturer Mefro Wheels by its competitor Accuride. The decision is conditional on the divestment (...)

The EU Commission clears a merger subject to remedies on the seeds, pesticides and digital agriculture market (Bayer’s Crop Science / BASF)
DG COMP (Brussels)
MERGERS: COMMISSION CLEARS ACQUISITION OF PARTS OF BAYER’S CROP SCIENCE BUSINESS BY BASF, SUBJECT TO CONDITIONS* The European Commission has conditionally approved under the EU Merger Regulation the acquisition of parts of Bayer’s Crop Science business by BASF. This transaction is related to the (...)

The US FTC conditionally clears a merger subject to divestitures in the pharmaceutical market (Amneal / Impax)
Weil, Gotshal & Manges (Washington)
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Weil, Gotshal & Manges (Washington)
FTC Applies its Merger Remedy Best Practices and Announces a New Divestiture Principle in Recent Pharmaceutical Enforcement Action* On April 27, 2018, the Federal Trade Commission (“FTC”) announced a proposed consent agreement with Amneal Pharmaceuticals LLC (“Amneal”) and Impax Laboratories, Inc. (...)

The EU Commission fines a multinational cable and telecommunications company €124.5 million for breaching EU Merger Regulation by implementing its acquisition before the approval by the Commission (Altice / PT Portugal)
Freshfields Bruckhaus Deringer (London)
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Freshfields Bruckhaus Deringer (Brussels)
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Freshfields Bruckhaus Deringer (Brussels)
The European Commission (Commission) announced today its decision to fine multinational cable and telecoms company Altice €124.5 million for breaching the EU Merger Regulation by implementing its 2015 acquisition of a telecommunications operator, PT Portugal, before notification to, or approval (...)

The Romanian Competition Authority clears a merger subject to remedies in the pharmaceutical sector (A&D Pharma / Glebi)
Romanian Competition Council (Bucharest)
THE COMPETITION COUNCIL AUTHORIZED WITH CONDITIONS THE TAKING OVER OF A&D PHARMA HOLDINGS NV BY GLEBI HOLDINGS PLC* The Competition Council authorised with conditions the transaction by which Glebi Holdings PLC takes over A&D Pharma Holdings NV. Glebi Holdings PLC is part of Penta (...)

The EU Commission considers potential harm to innovation as part of its merger assessments, particularly in R&D driven sectors such as pharmaceuticals and technology (Bayer / Monsanto)
Shearman & Sterling (London)
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Reed Smith (Brussels)
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Shearman & Sterling (London)
The European Commission has routinely considered potential harm to innovation as part of its merger assessments, particularly in R&D driven sectors such as pharmaceuticals and technology. In recent years, however, the Commission’s traditional innovation concerns have developed into broader, (...)

The EU Commission clears a merger, subject to remedies, in the seeds, pesticides and digital agriculture sector (Bayer / Monsanto)
DG COMP (Brussels)
Mergers: Commission clears Bayer’s acquisition of Monsanto, subject to conditions* The European Commission has approved under the EU Merger Regulation the acquisition of Monsanto by Bayer. The merger is conditional on the divestiture of an extensive remedy package, which addresses the parties’ (...)

The German Competition Authority clears a merger subject to remedies in the rail sector (CIT Rail / VTG Rail Assets)
German Competition Authority (Bonn)
Rail wagon leasing companies may merge subject to condition precedent* The Bundeskartellamt has cleared the acquisition of CIT Rail Holdings (Europe) S.A.S. by VTG Rail Assets GmbH subject to a condition precedent. The companies may only implement the merger once they have sold a substantial (...)

The Competition Authority of Botswana conditionally approves a merger with public interest conditions in the fast food restaurant market (Bradleymore’s Holdings)
Primerio (Washington)
COMPETITION AUTHORITY APPROVES KFC FRANCHISE M&A WITH PUBLIC-INTEREST CONDITIONS* On 7 February 2018 the Competition Authority of Botswana (“The Competition Authority”) approved, with conditions, the acquisition by Bradleymore’s Holdings (Pty) Ltd (“Bradleymore’s”), which is incorporated in (...)

The EU Commission clears a merger subject to remedies in the global media market and rejects a referral request by the Polish Competition Authority (Discovery / Scripps)
DG COMP (Brussels)
Mergers: Commission approves Discovery’s acquisition of Scripps, subject to conditions; rejects referral request by Polish competition authority* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Scripps by Discovery, both US based global media (...)

The Spanish National Markets and Competition Commission clears the merger of the three card payment systems operating in Spain (Servired / Sistema)
Callol, Coca & Asociados (Madrid)
The NMCC has approved, subject to commitments, the merger of the three card payment service companies operating in Spain: Servired, Sistema 4B and Euro 6000, of which practically all banking entities present in Spain were shareholders. As a result of the operation, the Spanish card payment (...)

The Belgian Competition Authority clears a merger subject to remedies in the market of garages for maintenance and repairs of trucks (Kant / Volvo)
Belgian Competition Authority (Brussels)
THE COMPETITION COLLEGE OF THE BCA AUTHORISES CONDITIONALLY THE ACQUISITION OF GARAGES OF THE GROUP KANT BY VOLVO GROUP BELGIUM* The Competition College of the Belgian Competition Authority (BCA) has authorised on 31 January 2018 the acquisition of garages of Kant NV by Volvo Group Belgium NV. (...)

The South African Competition Authority publishes its recommendations for approving conditionally a merger in the market of petroleum (Sinopec / Chevron)
Primerio (Washington)
MERGER CONTROL: PUBLIC INTEREST & SINOPEC/CHEVRON* WHEN THE STICK IS GREATER THAN THE CARROT While China Petroleum & Chemical Corporation (Sinopec), and global commodities trader and miner Glencore are the front runners in a bid to buy Chevron’s South African Business (Chevron SA), it (...)

The US FTC challenges a merger in what it defines as markets for the retail sale of gasoline and the retail sale of diesel, and requires divestitures in 10 local geographic markets (Alimentation Couche-Tard / Holiday)
McDermott Will & Emery (Washington)
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McDermott Will & Emery (Brussels)
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McDermott Will & Emery (Düsseldorf)
THE LATEST: FTC CHALLENGES RETAIL FUEL STATION AND CONVENIENCE STORE TRANSACTION— REQUIRES TEN LOCALIZED DIVESTITURES IN WISCONSIN AND MINNESOTA* WHAT HAPPENED: Alimentation Couche-Tard Inc. (ACT) and its subsidiaries (including Circle K Stores, Inc.) are engaged in the retail sale of gasoline (...)

The French Competition Authority clears a merger subject to remedies in the sector of collection and recovery of non-hazardous office waste (La Poste / Suez)
French Competition Authority (Paris)
Collection and recovery of non-hazardous office waste sector* In an unprecedented move, the Autorité de la concurrence closes a litigation procedure, and on the same day, clears a merger involving the same activity. The Autorité obtained commitments from La Poste regarding the promotion, (...)

The EU Commission clears a merger subject to remedies in the markets for passenger air travel (Lufthansa / Air Berlin)
DG COMP (Brussels)
Mergers: Commission approves acquisition by Lufthansa of Air Berlin subsidiary LGW, subject to conditions* The European Commission has approved under the EU Merger Regulation Lufthansa’s proposed acquisition of certain Air Berlin assets, through the entity Luftfahrtgesellschaft Walter GmbH (...)

The French Competition Authority clears a merger subject to remedies in the home decoration and gardening retail market (Bricorama / ITM Équipement de la Maison)
French Competition Authority (Paris)
The Autorité de la concurrence has cleared, subject to several conditions, the acquisition of the Bricorama group by ITM Équipement de la Maison (Bricomarché, Brico Cash)* Parties to the transaction On 18 October 2017, ITM Équipement de la Maison, a subsidiary of ITM Entreprises, which notably (...)

The Finnish Competition Authority clears a merger subject to remedies on the retail and purchasing markets of the grocery sector (SOK / Stockmann Delicatessen)
Finnish Competition and Consumer Authority (Helsinki)
FCCA approves the acquisition between SOK and Stockmann Delicatessen subject to conditions* Today, the Finnish Competition and Consumer Authority (FCCA) approved the acquisition of Stockmann Group’s Delicatessen business by Suomen Osuuskauppojen Keskuskunta, SOK (The Central Finnish Cooperative (...)

The French Competition Authority clears a merger subject to remedies in the agricultural cooperatives sector (CAM / Terrena)
French Competition Authority (Paris)
The Autorité de la concurrence clears, subject to commitments, the merger of Coopérative agricole des Agriculteurs de la Mayenne (CAM) with Terrena* Parties to the operation On 30 October 2017, the parties notified the Autorité de la concurrence of their intention to merge through a merger by (...)

The UK Competition Authority clears a merger subject to remedies in the cinema sector (Odeon / Vue)
United Kingdom’s Competition Authority - CMA (London)
CMA ACCEPTS MANCHESTER CINEMAS SALE* In December, the Competition and Markets Authority (CMA) announced that AMC (UK) Acquisition Ltd’s (AMC’s) purchase of Odeon and UCI Cinemas Holdings Ltd (Odeon) would face an in-depth investigation, unless AMC could address concerns over the merger’s effect (...)

The Finnish Competition Authority clears a merger subject to remedies in the hotel accommodation market (Scandic / Restel)
Finnish Competition and Consumer Authority (Helsinki)
The FCCA approves Scandic’s acquisition of Restel, with conditions* Today, the FCCA has approved the acquisition of Restel Hotellit Oy by Scandic Hotels Oy, with conditions. As a condition for the approval of the sale, the FCCA obliged Scandic to sell one hotel in Pori, Lahti and Kuopio to its (...)

The Russian Competition Authority clears the creation of a joint undertaking subject to remedies in the taxi market (Yandex / Uber)
Russian Federal Antimonopoly Service (Moscow)
FAS cleared merger between Yandex.Taxi and Uber, subject to conditions* On November 24, 2017 FAS agreed on the application of the Yandex N.V., Uber International C.V. for conclusion of an agreement on the creation of joint enterprise, subject to conditions. The results of analysis of the (...)

The Russian Competition Authority requires several remedies before clearing a merger in the agrotechnology market (Bayer / Monsanto)
Russian Federal Antimonopoly Service (Moscow)
FAS Russia applies access and behavioral remedies in the Bayer/Monsanto merger* The Federal Antimonopoly Service of Russia (FAS Russia) has concluded a review of the merger between “Bayer AG” (Germany) and “Monsanto Company” (USA) filed according to paragraphs 8 and 9 of section 1 of article 28 of (...)

The US FTC files an administrative complaint challenging a proposed acquisition in the market for third-party paid referral services for senior living facilities and enters into a proposed consent decree (Red Venture / Bankrate)
Shearman & Sterling (Washington)
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Shearman & Sterling (Washington)
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Shearman & Sterling (Washington)
This article has been nominated for the 2018 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards. On November 3, 2017, the Federal Trade Commission filed a complaint challenging Red Ventures’ proposed acquisition of Bankrate. The FTC alleged that the deal (...)

The Hellenic Competition Authority clears an acquisition of joint control over a dairy milk company subject to commitments (Delta Foods / Mevgal)
Prentoulis Gerakini Law Partnership (Athens)
Under its decision No. 650/2017 the Hellenic Competition Commission (HCC) approved the acquisition of joint control of Mevgal SA by Delta Food SA and members of the Hatzakou family. Delta Food S.A., member of the Vivartia Group of companies, produces and distributes dairy products such as, (...)

The US FTC conditionally clears the transaction between two neurosurgical companies (Integra / Johnson & Johnson)
McDermott Will & Emery (Washington)
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McDermott Will & Emery (Washington)
What Happened: On February 14, 2017, Integra agreed to purchase Johnson & Johnson’s Codman neurosurgery business (excluding Codman’s neurovascular and drug deliver businesses) for $1.045 billion. Seven months later, on September 25, 2017, the Federal Trade Commission (FTC) agreed to clear the (...)

The EU Commission sends three separate statements of objections to companies alleging procedural breaches of the EU Merger Regulation (Merck / Sigma-Aldric ; GE / LM Wind ; Canon / Toshiba Medical Systems)
Van Bael & Bellis (Brussels)
On 6 July 2017, the European Commission sent three separate statements of objections (“SO”) to companies alleging procedural breaches of the EU Merger Regulation. Provision of misleading information The first SO concerns the Merck/Sigma-Aldrich transaction, which was conditionally cleared by (...)

The EU Commission clears a merger, subject to remedies, in the vending services market (Pelican Rouge / Selecta)
DG COMP (Brussels)
MERGERS: COMMISSION APPROVES ACQUISITION OF PELICAN ROUGE BY SELECTA, SUBJECT TO CONDITION* The European Commission has cleared under the EU Merger Regulation the proposed acquisition of vending services provider Pelican Rouge of the Netherlands by Selecta of Switzerland. The clearance is (...)

The French Competition Authority adopts an innovative merger decision in the healthcare institution sector (Elsan / MPP)
Total (Paris)
The French Competition Authority (FCA) has adopted an innovative merger decision in the health care institution sector, assessing not only the effects of the operation on medical services (diagnostic and treatments), but also the effects on non-medical ancillary services. An innovative merge (...)

The EU Commission clears a merger subject to remedies on the markets for debt collection and debt purchasing (Intrum Justitia / Nordic Capital)
DG COMP (Brussels)
MERGERS: COMMISSION APPROVES ACQUISITION OF INTRUM JUSTITIA BY NORDIC CAPITAL, SUBJECT TO CONDITIONS* The European Commission has approved under the EU Merger Regulation the acquisition of Intrum Justitia by Nordic Capital. The decision is conditional on the divestment of the companies’ (...)

The Belgian Competition Authority clears a merger subject to remedies on the telecommunication market (Coditel / Telenet)
Belgian Competition Authority (Brussels)
THE BCA HAS APPROVED CONDITIONALLY THE ACQUISITION OF CODITEL BY TELENET* The Competition College of the Belgian Competition Authority (BCA) has approved conditionally on 12 June 2017 the acquisition of Coditel Brabant SPRL and her subsidiary Coditel SARL (hereafter ‘Coditel’) by Telenet Group (...)

The EU Commission clears the acquisition of a pharmaceutical company by a global conglomerate subject to commitment that clinical development of innovative insomnia drugs will not be adversely affected by the merger (Johnson & Johnson / Actelion)
DG COMP (Brussels)
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Spanish Ministry of Economy, Industry and Competitiveness (Madrid)
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DG COMP (Brussels)
J&J/Actelion - falling asleep fast and deeply while staying fully awake on innovation * In a nutshell: The Commission found competitive concerns due to the combination of two development programmes for insomnia drugs, currently in Phase II of clinical trials. These pipeline drugs are based (...)

The EU Commission clears a merger subject to remedies in the telecommunication market (Telecom Italia / Vivendi)
DG COMP (Brussels)
MERGERS: COMMISSION APPROVES VIVENDI’S ACQUISITION OF TELECOM ITALIA, SUBJECT TO CONDITIONS* The European Commission has approved the acquisition of de facto control over Telecom Italia by Vivendi. The decision is conditional on the divestment of Telecom Italia’s stake in Persidera. Telecom (...)

The German FCO publishes merger remedies guidelines
Heinz & Zagrosek (Köln)
Bundeskartellamt publishes merger remedies guidelines* On May 30, 2017, the Bundeskartellamt (Federal Cartel Office, "FCO“) has published guidelines on remedies in German merger control, also available in an English translation. The very detailed guidelines (87 pages) provide a comprehensive (...)

The EU Commission conditionally approves acquisition of de facto sole control over national incumbent telecommunications company by holding company otherwise competing with it in the market for wholesale access to TV networks (Vivendi / Telecom Italia)
DG COMP (Brussels)
,
DG COMP (Brussels)
,
DG COMP (Brussels)
Vivendi/Telecom Italia - jurisdictional and substantive assessment of minority shareholdings* In a nutshell: The Vivendi/Telecom Italia case raised interesting issues related to minority shareholdings. In relation to jurisdiction, the transaction consisted of the acquisition of (de facto) (...)

The EU Commission alleges a telecommunication company has breached EU rules by implementing its merger before notification or approval (Alice / PT Portugal)
DG COMP (Brussels)
Mergers: Commission alleges Altice breached EU rules by early implementation of PT Portugal acquisition* The European Commission has sent a Statement of Objections alleging that multinational telecommunications company Altice (the Netherlands), breached the EU Merger Regulation by implementing (...)

The EU Commission sends a statement of objections to a company to investigate whether a merger was implemented prior to the Commission’s clearance (Alice / PT Portugal)
Shearman & Sterling (London)
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Reed Smith (Brussels)
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Shearman & Sterling (London)
When a transaction meets the thresholds of the EU Merger Regulation, companies must notify and obtain clearance from the European Commission before implementing the transaction. This means that until clearance is obtained, companies should continue to operate independently (including (...)

The EU Commission sends a statement of objections alleging that multinational telecommunications company breached the EU Merger regulation by implementing its acquisition before notification or approval by the Commission (Altice / PT Portugal)
Herbert Smith Freehills (Brussels)
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Herbert Smith Freehills (London)
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Herbert Smith Freehills (Paris)
On 18 May 2017, the European Commission imposed a record fine of €110 million on Facebook for providing incorrect/misleading information to the Commission during its review of Facebook’s acquisition of WhatsApp under the EU merger regulation (EUMR). On the same day, the Commission issued a (...)

The EU Commission clears a merger, subject to remedies, in the market of semiconductor devices (Brocade / Broadcom)
DG COMP (Brussels)
MERGERS: COMMISSION CLEARS ACQUISITION OF BROCADE BY BROADCOM, SUBJECT TO CONDITIONS* The European Commission has cleared under the EU Merger Regulation the proposed acquisition of networking products supplier Brocade (US) by semiconductor manufacturer Broadcom (US/Singapore), subject to (...)

The German Competition Authority publishes merger remedies guidance
Jones Day (Frankfurt)
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Jones Day (Brussels)
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Jones Day (Dusseldorf)
The German Federal Cartel Office (Bundeskartellamt or "FCO") has published guidance on the requirements placed on remedies in merger control and their implementation. Remedies are an important instrument in merger control practice. They can enable the clearance of a merger under conditions and (...)

The Chinese MOFCOM requires divestitures and behavioural commitments to approve a merger in the market of agrochemical products, material science products and speciality products (Dow / DuPont)
University of Melbourne
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University of Melbourne
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Hogan Lovells (Beijing)
On 29 April 2017, the MOFCOM approved the merger between Dow and DuPont, subject to structural and behavioural conditions. The merger notification was submitted on 21 March 2016, which was accepted as complete on 6 May 2016. The review went into an extended phase 2, and the parties withdrew (...)

The US FTC reaches a consent agreement with merging parties to preserve innovation in the switchbox industry (Emerson / Pentair)
McDermott Will & Emery (Washington)
The FTC’s recent consent agreement addressing concerns regarding Emerson Electric Co.’s (Emerson) acquisition of Pentair Plc (Pentair) demonstrates a continued focus on whether transactions will reduce the incentive for merging parties to develop new, innovative products in the future. This is (...)

The EU Commission clears a merger subject to remedies in the identity and security solutions market (Morpho / Advent International)
DG COMP (Brussels)
MERGERS: COMMISSION CLEARS ACQUISITION OF SMART CARD MAKER MORPHO BY ADVENT INTERNATIONAL, SUBJECT TO CONDITIONS* The European Commission has cleared under the EU Merger Regulation the proposed acquisition of identity and security solutions provider Morpho, based in France, by Advent (...)

The UK Competition Authority clears a merger subject to remedies in the market of payment systems (MasterCard / VocaLink)
United Kingdom’s Competition Authority - CMA (London)
CMA accepts Mastercard/VocaLink undertakings* The CMA has today accepted undertakings offered by Mastercard to address competition concerns arising from its purchase of VocaLink. On 18 January 2017, the Competition and Markets Authority (CMA) announced it would look in detail at whether the (...)

The EU Commission clears a merger subject to remedies on the pesticides and plant growth regulators market (ChemChina / Syngenta)
DG COMP (Brussels)
MERGERS: COMMISSION CLEARS CHEMCHINA ACQUISITION OF SYNGENTA, SUBJECT TO CONDITIONS* The European Commission has approved under the EU Merger Regulation the proposed acquisition of Syngenta (based in Switzerland) by ChemChina. The approval is conditional on the divestiture of significant parts (...)

The EU Commission approves the acquisition of leading global R&D crop protection company by a leading global generic crop protection company, subject to remedies (ChemChina / Syngenta)
DG COMP (Brussels)
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DG COMP (Brussels)
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DG COMP (Brussels)
ChemChina/Syngenta: when growth is no longer organic* In a nutshell: This case concerned the acquisition of Syngenta by ChemChina, which already controlled Adama, the largest supplier of generic crop protection products. Adama is the largest generic company in this industry worldwide and in (...)

The EU Commission prohibits acquisition of largest national cement producer by the largest national cement importers, due to insufficient divestment to fully eliminate competition concerns (HeidelbergCement / Schwenk / Cemex Hungary / Cemex Croatia)
Freshfields Bruckhaus Deringer (Brussels)
HeidelbergCement/Schwenk/Cemex Hungary/Cemex Croatia - Cement travelling across borders* In a nutshell: The acquisition of Cemex Croatia would have seen DDC transform from an expanding importer in Croatia into the largest Croatian incumbent, and customers could have no longer benefitted from (...)

The EU Commission blocks attempted merger between Europe’s two largest stock exchange operators, due to their inability to offer remedies that would prevent the creation of a de facto monopoly in the markets for fixed income clearing (Deutsche Börse / London Stock Exchange)
King’s College (London)
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DG COMP (Brussels)
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DG COMP (Brussels)
DB/LSE - Assessing financial infrastructure markets: Network effects, service portfolios and viability of remedies* In a nutshell: The Commission prohibited the merger between the two largest European financial infrastructure groups, Deutsche Börse and London Stock Exchange, in March 2017. This (...)

The EU Commission clears a merger, subject to remedies, on the chemicals market (FMC / Dupont)
DG COMP (Brussels)
MERGERS: COMMISSION CLEARS BOTH FMC’S ACQUISITION OF PARTS OF DUPONT’S CROP PROTECTION BUSINESS AND DUPONT’S ACQUISITION OF FMC’S HEALTH AND NUTRITION BUSINESS* The European Commission has conditionally approved, under the EU Merger Regulation, FMC’s proposed acquisition of parts of DuPont’s crop (...)

The EU Commission clears merger between two global chemical companies, subject to remedies to ensure price and innovation competition in the markets for pesticides, petrochemicals (Dow / DuPont)
DG COMP (Brussels)
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Skadden, Arps, Slate, Meagher & Flom (Brussels)
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DG COMP (Brussels)
Dow/DuPont: protecting product and innovation competition * In a nutshell: The main concerns arising in the Dow/DuPont merger related to crop protection, on both product and innovation competition. Innovation is of key importance to this industry and the merging parties were two of only five (...)

The US Supreme Court of Delaware affirms termination of merger agreement due to the inability of a party to deliver a necessary tax opinion (Energy Transfer / Williams)
White & Case (New York)
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White & Case (New York)
Resolving a dispute surrounding one of the largest M&A deals of 2015, the Delaware Supreme Court affirmed the Delaware Chancery Court’s decision allowing Energy Transfer Equity, L.P. to terminate its proposed acquisition of The Williams Companies, Inc. due to the inability of Energy (...)

The US FTC clears an acquisition between two companies in the energy sector after they agreed to remedy an overlap for natural gas pipeline (Enbridge / Spectra)
McDermott Will & Emery (Washington)
The Federal Trade Commission (FTC) recently granted US antitrust clearance for Enbridge’s acquisition of Spectra after the parties agreed to behavioral commitments to remedy an overlap for natural gas pipeline transportation from the wellhead in three markets off the coast of Louisiana (Green (...)

The German Competition Authority clears a merger in the sanitary wholesale market (Wilhelm Gienger / Cordes & Graefe)
German Competition Authority (Bonn)
BUNDESKARTELLAMT CLEARS MERGER BETWEEN SANITARY WHOLESALERS* The Bundeskartellamt has cleared the acquisition of the business operations of Wilhelm Gienger GmbH, Stuttgart, by Cordes & Graefe KG, Bremen, after the companies changed their original plans in response to concerns expressed by (...)

The French Competition Authority fines companies for breaching commitments on fibre optic rollout (Altice / SFR)
Van Bael & Bellis (Brussels)
On 9 March 2017, the French Competition Authority (“FCA”) fined Altice and SFR Group € 40 million for violating commitments entered into with the FCA at the conclusion of its review of the Altice/SFR merger in October 2014. By way of background, the commitments required Altice/ SFR to honour an (...)

The UK Competition and Markets Authority is consulting on proposed changes to the UK merger regime to reduce the burden of investigations into mergers where the parties operate in small markets
Jones Day (London)
UK merger control process The UK operates a two-stage merger control regime. Before starting a formal merger investigation, the CMA will conduct pre-notification discussions with the parties, which typically last one to two months. Upon conclusion of these discussions, the CMA opens a formal (...)

The EU Commission clears a merger, subject to remedies, in the threat detection equipment business market (Morpho Detection / Smiths Group)
DG COMP (Brussels)
MERGERS: COMMISSION CLEARS ACQUISITION OF MORPHO DETECTION BY SMITHS, SUBJECT TO CONDITIONS* The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Morpho Detection, the threat detection equipment business of Safran of France, by Smiths of the UK. The (...)

The EU Commission clears an acquisition between two leading global manufacturers of threat detection equipment, subject to remedies (Smiths / Morpho Detection)
DG COMP (Brussels)
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DG COMP (Brussels)
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University of Tokyo
SMITHS GROUP / MORPHO DETECTION: MAINTAINING SECURITY THROUGH INNOVATION * In a nutshell: Smiths’ acquisition of Morpho Detection brought together two leading suppliers of the equipment used to detect explosives and narcotics. This equipment is omnipresent at security checks in airports and is (...)

The US FTC challenges a merger using a monopolisation theory to allege that the merger would eliminate nascent competition in the therapeutic adrenocorticotropic hormones (Questcor Pharmaceuticals / Mallinckrodt)
McDermott Will & Emery (Washington)
The Federal Trade Commission (FTC) challenged a consummated transaction using a monopolization theory to allege that the acquisition would eliminate “nascent” competition for therapeutic adrenocorticotropic hormones (ACTH) in the United States. WHAT HAPPENED: Questcor Pharmaceuticals, Inc.’s (...)

The Indian Competition Authority fines merging parties for failure to disclose global acquisition of the healthcase antisepsis business (Schulke / ASP Division of Ethicon)
Vaish (New Delhi)
CCI penalizes Schulke and Mayr GmBH (Schulke) for delayed filing in relation to the acquisition of Healthcare Antisepsis Solutions (HAS) business of Johnson & Johnson Private Limited (JJPL)* CCI, by its order dated January 13, 2017 has imposed a penalty of INR 25,00,000 on Schulke on (...)

The US FTC publishes its merger remedies report and signals tougher enforcement for designing and implementing remedies
Skadden, Arps, Slate, Meagher & Flom (Washington DC)
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Jones Day (Houston)
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Jones Day (Washington DC)
The Federal Trade Commission staff have completed a new study evaluating its process for designing and implementing merger remedies and the success of the remedies it has imposed in the past. Its report—"The FTC’s Merger Remedies 2006-2012: A Report of the Bureaus of Competition and (...)

The US FTC issues its second report on merger remedies
Baker McKenzie (Chicago)
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Baker McKenzie (Washington D.C.)
Expanding on the FTC’s divestiture study in 1999, on 19 January 2017, the FTC issued its second report, The FTC’s Merger Remedies 2006-2012: A Report of the Bureau of Competition and Economics. Recognizing that the efficacy of its remedies is critical to its mission, the key finding is that "the (...)

The Chinese MOFCOM conditionnaly clears a merger in the vascular closure devices market (Abbott Laboratories / St Jude Medical)
Hogan Lovells (Beijing)
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University of Melbourne
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China Competition Bulletin (Beijing)
On 30 December 2016, Abbott Laboratories’s acquisition of St Jude Medical was conditionally approved by the MOFCOM. On 4 July 2016, Abbott Laboratories submitted its notification to the MOFCOM, which was accepted as complete on 6 September 2016. The authority’s review entered phase 2 on 6 October (...)

The Spanish Competition Authority clears a merger subject to remedies in the healthcare sector (Fresenius Helios / Quironsalud)
Callol, Coca & Asociados (Madrid)
The acquisition (Transaction) of Quironsalud by Fresenius Helios had been initially notified to the European Commission, who referred the Transaction to the SCA under Article 9 of the EU Merger Regulation. On 22 December 2016, the SCA issued its phase I decision authorizing the Transaction (...)

The Supreme Administrative Court of the Czech Republic confirms fine for not complying with structural commitments imposed in merger approval decision (Rewe / Plus Discount)
Skils (Prague)
On 21 December 2016, the Supreme Administrative court rejected cassation appeal of REWE Zentralfinanz eG (“REWE”) against the previous judgment of the Regional Court in Brno which rejected claim against the Czech Office for Protection of Competition (“Office”) alleging that the Office acted (...)

The Irish Competition Authority clears a merger subject to two behavioural remedies in the private technologically advanced hospitals market (Bon Secours / Barringtons)
Trinity College Dublin
Introduction 1. On 21 December 2016 the Competition and Consumer Protection Commission (CCPC), Ireland’s competition agency, cleared, after an extended Phase I, the acquisition whereby Bon Secours Health System Company Limited by Guarantee (Bon Secours) would acquire sole control of Barringtons (...)

The EU Commission clears a merger, subject to remedies, in the market of dairy products (WhiteWave / Danone)
DG COMP (Brussels)
MERGERS: COMMISSION APPROVES ACQUISITION OF WHITEWAVE BY DANONE, SUBJECT TO CONDITIONS* The European Commission has cleared under the EU Merger Regulation the proposed acquisition of WhiteWave, a US-based manufacturer of packaged foods and beverages, by the French Danone group. The clearance (...)

The Polish Competition Authority clears a merger, subject to remedies, in the wholesale and retail sale of everyday consumer goods market (Dystrybucja Alkoholi / Eurocash)
Polish Competition Authority (Warsaw)
CONDITIONAL CONCENTRATION CLEARANCE: EUROCASH - PDA* The President of the Office of Competition and Customer Protection (UOKiK) gave his consent to a takeover of Polska Dystrybucja Alkoholi by Eurocash. The transaction may take place providing the purchase of a warehouse in Pabianice is (...)

The Polish Competition Authority gives conditional consent to a merger of undertakings operating on the market for wholesale and retail sale of alcoholic beverages (Eurocash / Polska Dystrybucja Alkoholi)
WKB Wierciński Kwieciński Baehr (Warsaw)
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WKB Wierciński Kwieciński Baehr (Warsaw)
In its decision of December 2016, the Polish Competition Authority (Prezes Urzędu Ochrony Konkurencji i Konsumentów, the “OCCP President” or the “Authority”) has given his conditional consent for Eurocash to take control over Polska Dystrybucja Alkoholi (hereinafter the “PDA”). Both undertakings (...)

The Dutch Competition Authority clears a merger in the telecommunication market (Vodafone Thuis / T-Mobile)
Netherlands Authority for Consumers & Markets (The Hague)
ACM CLEARS ACQUISITION OF VODAFONE THUIS BY T-MOBILE* Telecom provider T-Mobile is allowed to acquire the fixed-telecom division of Vodafone Netherlands. Vodafone has branded this division ‘Vodafone Thuis,’ which offers services for fixed telephony, TV, and internet. The Netherlands Authority (...)

The Danish Maritime and Commercial Court requests the EU Court of Justice to provide guidance on gun-jumping test (Ernst & Young / KPMG)
Szecskay Attorneys at Law
CJEU requested to provide guidance on gun-jumping test* With Post Danmark I and II under their belts, it seems Danish courts are punching above their weight when it comes to contributing to the CJEU’s development of EU competition law through preliminary rulings. Yet another interesting (...)

The EU Commission clears a merger subject to remedies on the professional social networks market (Microsoft / LinkedIn)
DG COMP (Brussels)
MERGERS: COMMISSION APPROVES ACQUISITION OF LINKEDIN BY MICROSOFT, SUBJECT TO CONDITIONS* The European Commission has approved under the EU Merger Regulation the proposed acquisition of LinkedIn by Microsoft. The decision is conditional on compliance with a series of commitments aimed at (...)

The EU Commission clears the acquisition of a leading global professional social networking platform company by a leading global software company, subject to 5-year remedies that include monitoring and prevention of tying (Microsoft / LinkedIn)
European Commission - Legal Service (Brussels)
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DG COMP (Brussels)
Microsoft/LinkedIn: Big data and conglomerate effects in tech markets* In a nutshell: The Microsoft/LinkedIn case is an important development in the Commission’s assessment of mergers involving data-related issues in tech industries. It provides further guidance on the framework for the (...)

The EU Commission conditionnaly clears a merger in the professional social network market (Microsoft / LinkedIn)
McDermott Will & Emery (Brussels)
European Commission Approves Microsoft Acquisition of LinkedIn Subject to Conditions* On 6 December 2016, the European Commission cleared the acquisition of LinkedIn by Microsoft, subject to Microsoft granting LinkedIn’s competitors access to certain LinkedIn tools. “BIG DATA” CONCERNS ANALYSED (...)

The OECD holds roundtable on agency decision-making in merger cases: prohibition and conditional clearances
OECD - Competition Division (Paris)
Executive Summary, by the Secretariat* Working Party No. 3 held a roundtable on 29 November 2016 on Agency Decision-Making in Merger Cases: From a Prohibition Decision to a Conditional Clearance. Considering the roundtable discussion, the delegates’ written contributions, presentations from the (...)

The EU Commission clears a merger subject to remedies in the pharmaceutical sector (Abbott Laboratories / St Jude Medical)
DG COMP (Brussels)
MERGERS: COMMISSION APPROVES ACQUISITION OF ST JUDE MEDICAL BY ABBOTT LABORATORIES, SUBJECT TO CONDITIONS* The European Commission has approved under the EU Merger Regulation the proposed acquisition of St Jude Medical by Abbott Laboratories, both US based companies that develop and market (...)

The EU Commission clears a merger, subject to remedies, in the container liner shipping market (Hapag-Lloyd / UASC)
DG COMP (Brussels)
MERGERS: COMMISSION APPROVES CONTAINER LINER SHIPPING MERGER BETWEEN HAPAG-LLOYD AND UASC, SUBJECT TO CONDITIONS* The European Commission has cleared under the EU Merger Regulation the proposed acquisition of United Arab Shipping Company ("UASC") by Hapag-Lloyd of Germany, subject to (...)

The EU Commission clears a merger subject to remedies in the animal health market (Boehringer Ingelheim / Sanofi)
DG COMP (Brussels)
MERGERS: COMMISSION APPROVES ACQUISITION OF SANOFI’S ANIMAL HEALTH BUSINESS MERIAL BY BOEHRINGER INGELHEIM, SUBJECT TO CONDITIONS* The European Commission has approved under the EU Merger Regulation the acquisition of the animal health business of Sanofi (Merial) of France by Boehringer (...)

The Belgian Competition Authority clears a merger subject to remedies in the sector of newspapers distribution and delivery of small parcels (AMP / LS Distribution Benelux / bpost)
Belgian Competition Authority (Brussels)
THE COMPETITION COLLEGES OF THE BCA HAS APPROVED CONDITIONALLY THE ACQUISITION OF AMP AND LS DISTRIBUTION BENELUX BY BPOST* The Competition College of the Belgian Competition Authority has on 8 November 2016 conditionally approved the acquisition of AMP NV and LS Distribution Benelux NV by (...)

The French Competition Authority clears a merger, subject to remedies, in the slaughtering and meat processing market (Sicavyl / Sicarev)
French Competition Authority (Paris)
THE AUTORITÉ DE LA CONCURRENCE CLEARS THE MERGER BETWEEN SICAVYM AND SICAREV, SUBJECT TO CONDITIONS* Parties to the operation On 4 November 2016, the agricultural cooperatives Sicarev and Sicavyl, mainly active in the meat sector, notified the Autorité de la concurrence of their intended (...)

The German Competition Authority clears a merger, subject to remedies, in the food retail market (Coop / Rewe)
German Competition Authority (Bonn)
Bundeskartellamt clears acquisition of Coop by Rewe subject to conditions* The Bundeskartellamt has cleared the acquisition of the northern German food retailer Coop eG, Kiel, by REWE Markt GmbH, Cologne, subject to conditions. Coop operates around 200 supermarkets in the federal states of (...)

The EU Commission clears a merger, subject to remedies, in the alumina sector (Alteo ARC and Alufin / Imerys)
DG COMP (Brussels)
Mergers: Commission approves acquisition of Alteo ARC and Alufin by Imerys, subject to conditions* The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Alteo ARC and Alufin by Imerys of France. The clearance is conditional on the divestment of Alteo (...)

The EU Commission clears acquisition of global laser manufacturer by its leading competitor, subject to conditions (Coherent / Rofin-Sinar)
DG COMP (Brussels)
Coherent/Rofin-Sinar: Merger between leading CO2 laser suppliers cleared in phase I subject to conditions* In a nutshell: After the Bundeskartellamt had prohibited Coherent’s acquisition of Excel (now Synrad) in 2006, Coherent announced in 2016 its intention to acquire Rofin-Sinar; another (...)

The UK Competition Authority orders structural remedies to clear a merger on the market of energy trading services (Intercontinental Exchange / Trayport)
Van Bael & Bellis (Brussels)
On 17 October 2016, the UK Competition and Markets Authority (“CMA”) ordered Intercontinental Exchange Inc. (“ICE”) to sell Trayport to a new owner, to be approved by the CMA, in order to preserve competition on the market for the supply of certain energy trading services. ICE is the largest (...)

The UK Competition Authority accepts merger remedies proposed by petrol and diesel retailers (Dover / Wayne)
United Kingdom’s Competition Authority - CMA (London)
CMA ACCEPTS REMEDIES IN FUEL PUMPS MERGER* The CMA has accepted undertakings from Dover to remedy competition concerns arising from its merger with Wayne. This follows the Competition and Markets Authority’s (CMA) intervention to ensure that choice is maintained for petrol and diesel retailers (...)

The EU Commission clears a merger, subject to remedies, in the market of train equipments (Wabtec / Faiveley)
DG COMP (Brussels)
Mergers: Commission approves acquisition of Faiveley by Wabtec, subject to conditions* Brussels, 4 October 2016 After an in-depth investigation under the EU Merger Regulation, the European Commission has cleared the proposed acquisition of Faiveley Transport of France by US-based Wabtec. The (...)

The EU Commission clears acquisition between two of the world’s largest rail equipment manufacturers, subject to divestment of the overlapping friction materials business (Wabtec / Faiveley)
DG COMP (Brussels)
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DG COMP (Brussels)
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DG COMP (Brussels)
Wabtec/Faiveley - Braking News: Commission conditionally clears acquisition in train equipment sector* In a nutshell: The Commission cleared the acquisition of Faiveley Transport by Wabtec, subject to conditions. This case required the assessment of the effects of a merger with a potential (...)

The French Competition Authority clears a merger, subject to remedies, in the agriculture sector (Agri-Négoce / Axéréal Participations)
French Competition Authority (Paris)
The Autorité de la concurrence clears the acquisition of sole control of Agri-Négoce by Axéréal Participations, subject to commitments* On 21 April 2016, the company Axéréal Participations, subsidy of the farming cooperative Axéréal, notified the Autorité de la concurrence of the acquisition of sole (...)

The UK Competition Authority accepts remedies proposed by a supplier of fruit juice and clears the merger (Hain / Orchard)
United Kingdom’s Competition Authority - CMA (London)
CMA accepts fruit juice merger remedies* The CMA has accepted Hain’s undertaking to sell its own-label fruit juice business to an approved buyer. Hain Frozen Foods UK Ltd (Hain) bought Orchard House Foods Ltd (Orchard) in December 2015. Both are major suppliers of own-label freshly squeezed (...)

The UK Competition Authority accepts merger remedies proposed by a leading global interdealer broker (Tullett Prebon)
United Kingdom’s Competition Authority - CMA (London)
CMA ACCEPTS BROKER MERGER UNDERTAKINGS* The CMA has accepted undertakings from Tullett Prebon and will not refer its merger with IGBB for an in-depth investigation. Tullett Prebon plc and ICAP plc are leading global interdealer brokers, companies that sit between investment banks helping to (...)

The French Competition Authority clears a merger subject to remedies in the airports market (Aéroports de Lyon / Vinci Airports)
French Competition Authority (Paris)
THE AUTORITÉ DE LA CONCURRENCE CLEARS THE ACQUISITION OF AÉROPORTS DE LYON BY VINCI AIRPORTS, SUBJECT TO COMMITMENTS* On 6 September 2016, Vinci Airports, a subsidiary of the Vinci group, notified the Autorité de la concurrence of its acquisition of sole control of Aéroports de Lyon, the company (...)

The EU Commission approves a joint venture between the third and fourth largest telecom operators in Italy subject to structural remedies (Hutchison / VimpelCom)
Cleary Gottlieb Steen & Hamilton (Rome)
European Commission approves a joint venture between the third and fourth largest telecom operators in Italy subject to structural remedies* On 1 September 2016 the European Commission approved a proposed joint venture between Vimpelcom and CK Hutchison, respectively the owners of Wind and H3G (...)

The Indian Competition Appellate Tribunal upholds the Competition Authority’s fine for gun jumping imposed on manufacturer of industrial chemicals and fertilizers (SCM Soilfert / Deepak Fertilizers and Petrochemicals)
Vaish (New Delhi)
COMPAT upholds penalty imposed on SCM Soilfert for “gun-jumping”* COMPAT by its order dated August30, 2016 has upheld the penalty imposed by the CCI on SCM Soilfert for failure to file a notice under Section 6(2) of the Competition Act, 2002 (the Act) for a combination. Deepak Fertilizers and (...)

The UK Competition Authority imposes a behavioural commitments akin to a structural divestment on an undertaking specialist in the magazine sector (Future / Miura)
McDermott Will & Emery (Paris)
UK CMA IMPOSES BEHAVIOURAL COMMITMENTS AKIN TO A STRUCTURAL DIVESTMENT: THE SCI-FI MAGAZINES CASE* Divestments often constitute the most appropriate remedy to resolve antitrust concerns in the context of merger control. However, behavioural commitments may also have the same commercial effects (...)

The EU Commission clears merger, subject to remedies, in the lifting equipment market (Konecranes / Terex)
DG COMP (Brussels)
MERGERS: COMMISSION APPROVES KONECRANES’ ACQUISITION OF TEREX’S CRANE AND CONTAINER HANDLING BUSINESS, SUBJET TO CONDITIONS* The European Commission has cleared under the EU Merger Regulation the acquisition by Konecranes of Terex’s crane and container handling business, MHPS. The decision is (...)

The EU Commission clears a merger subject to remedies in the pharmaceutical sector (Boehringer Ingelheim / Sanofi)
DG COMP (Brussels)
MERGERS: COMMISSION CLEARS ACQUISITION OF BOEHRINGER INGELHEIM’S CONSUMER HEALTH BUSINESS BY SANOFI, SUBJEC TO CONDITIONS* The European Commission has approved under the EU Merger Regulation the proposed acquisition of the consumer health business of Germany’s Boehringer Ingelheim by Sanofi of (...)

The EU Commission clears acquisition that creates global number two animal health company, subject to fix-it-first remedy including a technology transfer of vaccines (Boehringer Ingelheim / Sanofi)
DG COMP (Brussels)
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Sullivan & Cromwell (Brussels)
BOEHRINGER INGELHEIM/SANOFI ANIMAL HEALTH - THE TIMELY INJECTION OF A FIX-ITFIRST REMEDY* In a nutshell: The acquisition of Sanofi’s animal health business by Boehringer Ingelheim led to competition concerns in a number of animal vaccine and pharmaceutical markets. The remedy put forward (...)

The EU Commission clears a merger, subject to remedies, in the telecommunication market and rejects a referral request issued by the Dutch competition authority (Vodafone / Liberty Global)
DG COMP (Brussels)
MERGERS: COMMISSION CLEARS VODAFONE/LIBERTY GLOBAL TELECOMS JOINT VENTURE, SUBJECT TO CONDITION; REJECTS REFERRAL REQUEST BY DUTCH COMPETITION AUTHORITY * The European Commission has cleared under the EU Merger Regulation the proposed creation of a joint venture in the Netherlands by mobile (...)

The EU Commission conditionally clears the creation of a joint venture between two mobile telecom operators (Vodafone / Liberty Global)
Van Bael & Bellis (Brussels)
On 3 August 2016, the European Commission conditionally cleared the creation of a joint venture between mobile telecom operator Vodafone and cable company Liberty Global in the Netherlands. The joint venture will offer unified communications services and will compete with KPN, the only other (...)

The Indian Competition Authority approves a merger and amalgamation between two insurance companies (L&T General Insurance / HDFC Ergo)
Vaish (New Delhi)
CCI approves acquisition and amalgamation between HDFC Ergo and L&T* The proposed combination relates to acquisition of 100% shareholding in L&T General Insurance Company Limited (“LTGI”) by HDFC Ergo General Insurance Company Limited (“HDFC Ergo”) from Larsen and Toubro (L&T). (...)

The Chinese MOFCOM conditionally clears a merger in the market of production and sale of beer (AB InBev / SABMiller)
Hogan Lovells (Beijing)
,
University of Melbourne
,
China Competition Bulletin (Beijing)
On 29 July 2016, AB InBev’s acquisition of SABMiller was conditionally approved by the MOFCOM. With the acquisition, AB InBev acquires SABMiller’s 49% interest in CR Snow. When Anheuser-Busch acquired InBev back in 2008, the MOFCOM approved that acquisition on the condition that, inter alia, if (...)

The French Competition Authority agrees on interim proceedings concerning the execution of an undertaking’s commitments in the home appliances and consumer electronics sector (Darty / Fnac)
Dechert (Paris)
Background of the case On 27 July 2016, after an in-depth investigation (phase II review), the French Competition Authority (“FCA”) cleared the acquisition of Darty Plc (“Darty”), a retailer of home appliances and consumer electronics, by Fnac SA (“Fnac”), a distributor of cultural goods, subject to (...)

The German Competition Authority issues its preliminary assessment concerning a merger in the food retail market (Rewe / Coop)
German Competition Authority (Bonn)
BUNDESKARTELLAMT ISSUES PRELIMINARY ASSESSMENT OF THE PLANNED REWE/COOP MERGER* In response to enquiries the Bundeskartellamt confirms that on 25.07.2016 it sent the parties concerned in the Rewe/Coop merger control proceedings its draft decision in the matter. In addition to the parties to (...)

The US FTC requires divestitures in many local markets for traditional supermarket stores despite the fact that there are between three and six remaining competitors (Ahold / Delhaize)
Dechert (Washington)
,
Dechert (Washington)
FTC Requires Divestitures in Ahold/Delhaize of 81 Stores and Gives Upfront Buyers More Time to Complete Acquisitions; Continues Focus on "Traditional Supermarket" Competition Key Points: The U.S. Federal Trade Commission (FTC) required divestitures in many local markets in Ahold/Delhaize (...)

The US DoJ approves mega merger of the world’s two largest beer producers subject to extensive structural and behavioral remedies (AB InBev / SABMiller)
Wilson Elser (New York)
Department of Justice Moves Mega Beer Merger One Round Closer*U.S. Department of Justice (“DOJ”) antitrust officials have approved Anheuser-Busch InBev’s (“ABI”) $107 billion takeover of SABMiller, on condition that ABI divest substantial assets, agree to prohibitions of certain distribution (...)

The EU Commission clears a merger, subject to remedies, in the markets for satellites and launch services (Arianespace / ASL)
DG COMP (Brussels)
MERGERS: COMMISSION APPROVES ACQUISITION OF ARIANESPACE BY ASL, SUBJECT TO CONDITIONS* Following an in-depth review, the European Commission has approved under the EU Merger Regulation, the acquisition of Arianespace by Airbus Safran Launchers (ASL), a joint venture between Airbus and Safran. (...)

The EU Commission conditionally clears an acquisition in market for satellite launch services (Arianespace / ASL)
Van Bael & Bellis (Brussels)
On 20 July 2016, the European Commission conditionally cleared the acquisition of Arianespace by Airbus Safran Launchers (“ASL”). Arianespace is a French company offering satellite launch services to private and institutional satellite operators. ASL is a 50/50 joint venture controlled by Airbus (...)

The US DoJ fines a record $11 million an activist investor for violations of the HSR Act and agrees to injunctive relief to settle allegations (ValueAct)
Simpson Thacher & Bartlett (New York)
,
Office of the New York State Attorney General (New York)
On July 12, 2016, the US Department of Justice (“DOJ”) announced that activist investor ValueAct Capital agreed to pay a record $11 million fine and also agreed to injunctive relief to settle allegations that ValueAct violated the Hart-Scott-Rodino Antitrust Improvements Act of 1976, 15 U.S.C. § (...)

The EU Commission clears a merger subject to remedies in the market for the production and supply of plastic bumpers (Plastic Omnium / Faurecia)
DG COMP (Brussels)
MERGERS: COMMISSION CLEARS ACQUISITON OF AN AUTOMOTIVE COMPONENT BUSINESS OF FAURECIA BY PLASTIC OMNIUM, SUBJECT TO CONDITIONS* The Commission has cleared under the EU Merger Regulation the proposed acquisition of the automotive plastic exterior component business of Faurecia by Compagnie (...)

The EU Commission clears acquisition between two automotive component manufacturers in the markets for plastic front bumpers, rear bumpers, and front end modules (FEM), subject to conditions (Plastic Omnium / Faurecia )
DG COMP (Brussels)
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DG COMP (Brussels)
,
DG COMP (Brussels)
Plastic Omnium/Faurecia Exterior Business: The use of delivery distances in defining the geographic market and how supplyside concentration cancels out buyer power* In a nutshell: An in-depth assessment of the customers’ sourcing behaviour and of the Parties delivery distance allowed the (...)

The Hellenic Competition Authority clears, subject to remedies, a merger on the market for the provision of stevedoring and storage of domestic containerized cargo services (Cosco / Piraeus Port Authority)
Hellenic Competition Authority (Athens)
Clearance of the proposed acquisition by COSCO (HONG KONG) GROUP LIMITED of sole control over PIRAEUS PORT AUTHORITY S.A. subject to conditions* The Hellenic Competition Commission (HCC) has cleared today the notified concentration between PIRAEUS PORT AUTHORITY S.A. (PPA S.A.) and COSCO (HONG (...)

The UK Competition and Markets Authority orders divestment of Scottish assets following a merger (Iron Mountain / Recall)
Van Bael & Bellis (Brussels)
On 16 June 2016, the UK’s Competition and Markets Authority (“CMA”) published its final report into Iron Mountain’s acquisition of Recall, following a six-month in-depth phase II investigation. Both companies are active in records and information management services (“RIMS”). The CMA con- cluded (...)

The UK Competition Authority accepts merger remedies proposed by a company specialised in the records management services (Iron Mountain)
United Kingdom’s Competition Authority - CMA (London)
CMA ACCEPTES RECORDS MANAGEMENT UNDERTAKINGS* The CMA has accepted undertakings from Iron Mountain Inc to sell C21 Data Services in Aberdeen and Dundee to an approved buyer. Iron Mountain and Recall both provide records management services, which comprise the storage and retrieval of paper (...)

The OECD holds a roundtable on public interest considerations in merger control
OECD - Competition Division (Paris)
Executive summary, by the Secretariat * Considering the discussion at the roundtable held by Working Party No. 3 on Co-operation and Enforcement on 14 June 2016, the delegates’ submissions, the panellists’ presentations and the Secretariat’s background paper, several points emerged: 1. (...)

The Organisation for the Economic Co-operation and Development holds a roundtable on jurisdictional nexus in merger control regimes
OECD - Competition Division (Paris)
Executive summary, by the Secretariat * Considering the discussion at the roundtable held by Working Party No.3 on Co-operation and Enforcement on 15June 2016, the delegates’ submissions, the panellists’ presentations and the Secretariat’s background paper, several points are noted: 1. Merger (...)

The French Competition Authority refuses to lift the ban on exclusive broadcasting of premium sports channels pronounced against a pay TV channel (Canal Plus)
French Competition Authority (Paris)
The Autorité de la concurrence considers that the conditions are not currently satisfied to lift the ban on exclusive broadcasting of premium sports channels pronounced on Canal Plus. * The Autorité will engage, during the upcoming twelve months, in an in-depth work in dialogue with all the (...)

The UK Competition Authority opens an in-depth investigation regarding a merger in the market for brokerage of oil products (Tullett / ICAP)
United Kingdom’s Competition Authority - CMA (London)
Broker merger faces an in-depth investigation* Tullett’s anticipated acquisition of ICAP’s voice/hybrid broking business faces being referred for an in-depth investigation by the CMA. Tullett Prebon plc (Tullett) and ICAP plc (ICAP) are leading global interdealer brokers, companies that (...)

The Chinese MOFCOM releases a company from conditions previously imposed in an e-commerce merger (Wal-Mart / Yihaodian)
China Competition Bulletin (Beijing)
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University of Melbourne
,
University of Melbourne
On 30 May 2016, the MOFCOM decided to release Wal-Mart from the conditions that it had imposed on Wal- Mart’s acquisition of Yihaodian in 2012. Wal-Mart had applied for release from these conditions in July 2015. When the MOFCOM conditionally approved Wal-Mart’s acquisition in 2012, the (...)

The EU Commission clears a merger subject to remedies in the market of building materials (Italcementi / HeidelbergCement)
DG COMP (Brussels)
MERGERS: COMMISSION APPROVES ACQUISITION OF BUILDING MATERIALS GROUP ITALCEMENTI BY HEIDELBERGCEMENT, SUBJECT TO CONDITIONS* The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Italian building materials group Italcementi by its German competitor (...)

The EU Commission clears acquisition between two global building materials companies active in the cement markets, subject to divestment of geographically overlapping business (HeidelbergCement / Italcementi)
Freshfields Bruckhaus Deringer (Brussels)
,
DG COMP (Brussels)
HeidelbergCement/Italcementi: Let’s get concrete…* In a nutshell: Two global cement players merged and although their footprint in Europe is rather complementary, their activities overlapped to a great extent in Belgium in a number of markets. In order to remedy the serious doubts in first (...)

The EU Commission clears a merger subject to remedies in the European beer market (AB InBev / SABMiller)
Van Bael & Bellis (Brussels)
On 24 May 2016, the Commission cleared the proposed acquisition of SABMiller, the world’s second largest brewer, by AB InBev, the world’s largest brewer. AB Inbev’s brands include Corona, Stella Artois and Budweise. SABMiller owns brands such as Miller, Peroni, Pilsner Urquell and Grolsch. The (...)

The EU Commission clears acquisition between two largest global brewers, respectively third and fourth in Europe, subject to conditions (AB InBev / SABMiller)
DG COMP (Brussels)
,
DG COMP (Brussels)
ABI/SAB: The emergence of a global beer giant and its challenges for merger review* In a nutshell In May this year, the European Commission approved the acquisition of SABMiller by Anheuser-Busch InBev subject to conditions. The Commission found in its phase I investigation that the (...)

The Indian Competition Authority approves acquisition of film exhibition business by a cinema theatre company subject to conditions (PVR / DUL)
Vaish (New Delhi)
CCI approves PVR’s acquisition of DLF’s cinema exhibition business with modifications* CCI, by its order dated May 04, 2016, has approved acquisition of DLF’s film exhibition business, subject to modifications. The proposed combination relates to acquisition by PVR of DLF Utilities Limited (DUL) (...)

The EU Commission clears, subject to remedies, a merger between two container liner shippers (CMA CGM / NOL)
DG COMP (Brussels)
MERGERS: COMMISSION APPROVES CONTAINER LINER SHIPPING MERGER BETWEEN CMA CGM AND NOL, SUBJECT TO CONDITIONS* The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Neptune Oriental Lines ("NOL") of Singapore by rival CMA CGM, a French shipping company (...)

The French Competition Authority clears a merger, subject to remedies, on the smoked trout market (Aqualande Group / Labeyrie)
French Competition Authority (Paris)
The Autorité de la concurrence clears the acquisition of joint control of the Aqualande Group by Labeyrie together with the agricultural cooperative Les Aquaculteurs Landais, subject to commitments* On 21 January 2016, Labeyrie and Les Aquaculteurs Landais notified the Autorité de la concurrence (...)

The EU Commission conditionally approves a merger subject to divestment commitments and behavioural conditions in the payment services and terminals sector (Equens / Worldline)
Van Bael & Bellis (Brussels)
On 20 April 2016, the European Commission (“Commission”) approved the acquisition by Worldline of Equens (and its subsidiary PaySquare) under the EU Merger Regulation, subject to divestment commitments and behavioural conditions. Worldline is the incumbent operator of payment services and (...)

The EU Commission clears the acquisition of two undertakings subject to commitment to license technology to any customer interested at FRAND conditions (Equens / Wordline)
McDermott Will & Emery (Brussels)
EU: MERGER CASE CLEARED FOLLOWING OFFER OF FRAND TECHNOLOGY LICENSE* On 20 April 2016, the European Commission (Commission) cleared, under its merger control rules, the acquisition of Equens and PaySquare by Worldline subject to, amongst others, a commitment to license technology to any (...)

The French Competition Authority fines a mobile phone company for non-compliance with some of its merger remedies (SFR / Numéricable)
French Competition Authority (Paris)
Overseas Mobile Telephony* The Autorité de la concurrence fines Altice/Numericable group for non-compliance with some of the commitments linked to the divestiture of Outremer Telecom’s mobile telephony business made at the time of its acquisition of SFR. Having observed the non-compliance by (...)

The Finnish Competition Authority clears a merger subject to remedies on the food retail market (Kesko Food / Suomen Lähikauppa)
Finnish Competition and Consumer Authority (Helsinki)
FCCA TO APPROVE A MERGER BETWEEN KESKO FOOD AND SUOMEN LÄHIKAUPPA, SUBJECT TO CONDITIONS* The Finnish Competition and Consumer Authority (FCCA) has approved Kesko Food Ltd’s acquisition of Suomen Lähikauppa Oy, subject to certain conditions. The conditions imposed by the FCCA are an obligation to (...)

The Belgian Competition Authority clears a merger subject to remedies in the market of multiplex cinemas (Kinepolis / Utopolis)
Belgian Competition Authority (Brussels)
THE BELGIAN COMPETITION AUTHORITY (BCA) HAS APPROVED WITH REMEDIES THE ACQUISITION BY KINEPOLIS OF TWO OF THE FOUR MULTIPLEX CINEMAS OF UTOPOLIS The Competition College of the Belgian Competition Authority has approved on 25 March 2016 the acquisition by Kinepolis of two of the four Utopolis (...)

The EU Commission clears a merger subject to remedies in the retail and wholesale fuels markets (Statoil Fuel / Shell)
DG COMP (Brussels)
Mergers: Commission approves Statoil Fuel and Retail’s takeover of Shell’s Dansk Fuels, subject to conditions* The European Commission has approved under the EU Merger Regulation the proposed acquisition of Shell’s Danish retail and wholesale fuels business, Dansk Fuels, by Alimentation (...)

The Belgian Competition Authority clears a merger, subject to remedies, in the food retail market (Ahold / Delhaize)
Belgian Competition Authority (Brussels)
THE COMPETITION COLLEGE OF THE BCA HAS AUTHORISED THE MERGER OF AHOLD AND DELHAIZE WITH REMEDIES* The Competition College of the Belgian Competition Authority has authorised on the 15th of March 2016 the merger of Delhaize SA and Royal Ahold NV with the remedies proposed by the parties. The (...)

The Belgian Competition Authority approves acquisition subject to remedies in the food retail market (Delhaize / Ahold)
Van Bael & Bellis (Brussels)
On 15 March 2016, the Competition College of the Belgian Competition Authority (“BCA”) approved the acquisition of Delhaize Group by Ahold, subject to a number of conditions. Delhaize (Belgium) and Ahold (The Netherlands) are two major food retailers active in their home countries as well as in (...)

The EU Commission clears a merger, subject to remedies, in the pharmaceutical market (Teva / Allergan Generics)
DG COMP (Brussels)
MERGERS: COMMISSION APPROVES ACQUISITION OF ALLERGAN GENERICS BY TEVA, SUBJECT TO CONDITIONS The European Commission has approved under the EU Merger Regulation the proposed acquisition of the generics business of Allergan of Ireland, by Teva of Israel, subject to conditions. Both companies (...)

The EU Commission clears acquisition of fourth largest global manufacturer of generic medicines by the largest global competitor, subject to complex remedies and monitoring, including addressing concerns about vertical relationships between parties for the first time in a generics merger (Teva / Allergan Generics)
DG COMP (Brussels)
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DG COMP (Brussels)
,
DG COMP (Brussels)
Teva/Allergan Generics: An unprecedented generics merger* In a nutshell While the Commission has had significant experience dealing with mergers in the generic medicines industry, the sheer scale of Teva/Allergan Generics, combining two of the top four players globally, posed a number of (...)

The EU Commission clears a merger, subject to remedies, in the market of consumable dental products for professional dental (Dentsply / Sirona)
DG COMP (Brussels)
MERGERS: COMMISSION APPROVES DENTSPLY ACQUISITION OF DENTAL EQUIPMENT SUPPLIER SIRONA, SUBJECT TO CONDITIONS * The European Commission has approved under the EU Merger Regulation the proposed acquisition of dental equipment supplier Sirona by Dentsply, both of the US, subject to conditions. (...)

The French Competition Authority clears a merger, subject to remedies, in the market of retail of cultural and electronic products (Fnac / Darty)
French Competition Authority (Paris)
RETAILING OF "BROWN" AND "GREY" PRODUCTS* The Autorité de la concurrence clears, subject to the divestiture of 6 stores in Paris and the Parisian region, the acquisition of the Darty company by the Fnac group On 17 February 2016, the Fnac group notified its project to take over Darty to the (...)

The EU Commission clears a merger subject to remedies in the office supplies market (Staples / Office Depot)
DG COMP (Brussels)
Mergers: Commission approves Staples’ acquisition of Office Depot, subject to conditions* Following an in-depth review, the European Commission has approved under the EU Merger Regulation the acquisition of office supplies distributor Office Depot by Staples, subject to conditions. Following (...)

The EU Commission approves a merger after an in-depth investigation and subject to a divestment (Staples / Office Depot)
DG COMP (Brussels)
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DG COMP (Brussels)
,
DG COMP (Brussels)
1. Introduction On 10 February 2016, the European Commission (the Commission) conditionally approved the acquisition of Office Depot by its rival Staples. Both companies are US-based global suppliers of stationery and other office products to private consumers and businesses. The Commission (...)

The EU Commission clears the acquisition, subject to conditions, of global office supplies company by its leading competitor but it is subsequently rejected by US FTC (Staples / Office Depot)
DG COMP (Brussels)
,
DG COMP (Brussels)
,
DG COMP (Brussels)
Staples/Office Depot: House of Paper* In a nutshell: In February this year, the European Commission approved the acquisition of Office Depot by Staples. Three months later, the US District Court for the District of Columbia granted the FTC’s request for a preliminary injunction to block the (...)

The EU Commission conditionally approves a merger in the telecommunications sector (Liberty Global’s / BASE)
Van Bael & Bellis (Brussels)
On 4 February 2016, the European Commission conditionally approved the acquisition of Belgian mobile network operator (“MNO”) BASE by Liberty Global, which controls the Belgian telecommunications operator and mobile virtual network operator (“MVNO”) Telenet. Telenet has a significant position in a (...)

The EU Commission approves acquisition of a mobile network operator by virtual mobile network operator, subject to fix-it-first remedies (Liberty Global / BASE)
DG COMP (Brussels)
,
DG COMP (Brussels)
,
DG COMP (Brussels)
LIBERTY GLOBAL / BASE: FIWING IT FIRST IN THE BELGIAN MOBILE MARKET* In a nutshell: Liberty Global/BASE entailed the acquisition of a mobile network operator by a mobile virtual network operator. The transaction prompted an in-depth investigation and was ultimately cleared with a fix-it-first (...)

The UK Competition Authority accepts a remedy concerning a merger in the serviced office space market (Regus / Avanta)
United Kingdom’s Competition Authority - CMA (London)
CMA ACCEPTS REMEDY IN SERVICED OFFICE SPACE MERGER * The Competition and Markets Authority has today accepted a remedy to resolve competition concerns arising from Regus’ acquisition of Avanta. The Competition and Markets Authority (CMA) announced on 18 November 2015 that it would consider in (...)

The EU Commission corrects second time around a merger decision in the publishing sector after a defect was raised by the EU Court of Justice (Editions Odile Jacob)
McDermott Will & Emery (Paris)
As a general proposition, when the validity of a European Commission antitrust decision is challenged before the General Court of the European Union (GCEU), the procedure is one of judicial review, not a retrial on the merits (although the GCEU does have special jurisdiction to increase or (...)

The EU Court of Justice confirms that the presence of the same person in either the managerial or supervisory boards of two companies does not establish a relationship of dependency between two undertakings (Odile Jacob / VUP & Lagardère)
McDermott Will & Emery (Paris)
THE EU COURT OF JUSTICE BRINGS TO AN END ODILE JACOB’S FIGHT AGAINST LAGARDÈRE’S PURCHASE OF VIVENDI UNIVERSAL PUBLISHING* By its judgment of 28 January 2016 (C-514/14 P, Editions Odile Jacob SAS v Commission), the European Court of Justice (Court) upheld the General Court of the European Union’s (...)

The EU Commission clears a merger subject to remedies in the market of beverage can manufacturing (Ball / Rexam)
DG COMP (Brussels)
MERGERS: COMMISSION APPROVES BALL’S ACQUISITION OF REXAM, SUBJECT TO CONDITIONS* Following an in-depth review, the Commission has approved under the EU Merger Regulation the acquisition of beverage can manufacturer Rexam by rival Ball, subject to the divestment of 12 plants in the EEA. Ten of (...)

The EU Commission clears acquisition of global number 2 beverage can manufacturer by global number 1, subject to divesting almost the entire business overlap in Europe (Ball / Rexam)
DG TRADE (Brussels)
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European Commission (Brussels)
,
DG COMP (Brussels)
Ball/Rexam: The beverage can merger – keeping an eye on the Ball* In a nutshell: In January 2016, the Commission cleared the acquisition of the global #2 beverage can manufacturer Rexam by the global #1 Ball, subject to the divestiture of nearly the whole overlap in Europe. A key feature of the (...)

The Competition Commission of India updates its Merger Regulations
Shardul Amarchand Mangaldas (New Delhi)
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Shardul Amarchand Mangaldas (New Delhi)
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Shardul Amarchand Mangaldas (New Delhi)
The Indian merger control regime under the Competition Act, 2002 has been in force for nearly five years. In addition to the statutory provisions, the Combination Regulations were introduced by the Competition Commission of India in 2011 . These Regulations contain detailed rules on (...)

The EU Commission clears a merger subject to remedies in the market of heating products (Elster / Honeywell)
DG COMP (Brussels)
MERGERS: COMMISSION APPROVES ACQUISITION OF ELSTER BY HONEYWELL, SUBJECT TO CONDITIONS* The European Commission has approved under the EU Merger Regulation the proposed acquisition of Elster by Honeywell, subject to divestment of Honeywell’s gas metering business. The activities of the Elster (...)

The UK Competition Authority opens an in-depth investigation regarding a merger in the computer-based testing sector after considering proposed remedies to be insufficient (Pearson / Learndirect)
United Kingdom’s Competition Authority - CMA (London)
CMA refers computer-based testing merger for in-depth investigation* The CMA has referred Pearson VUE’s anticipated acquisition of learndirect’s computer-based testing business for a phase 2 investigation. Earlier this month, the Competition and Markets Authority (CMA) said that it would refer (...)

The French Competition Authority clears, subject to remedies, a merger in the fast food market (Quick / Burger King)
French Competition Authority (Paris)
The Autorité de la concurrence clears the acquisition of Quick by Burger King, subject to commitments.* On 4 November 2015, Burger King France notified to the Autorité de la concurrence the acquisition of sole control of the Quick group. Burger King France operates a network of thirty (...)

The Italian Competition Authority conditionally clears a merger between two major ferry operators (Onorato Partcipazioni-Newco / Moby-Compagnia Italiana di Navigazione)
Desogus Law Office (Cagliari)
Introduction By the decision made on 10 December 2015 in Onorato Partcipazioni-Newco/Moby-Compagnia Italiana di Navigazione (OP/Moby-CIN), the Italian Competition Authority (ICA) has conditionally cleared a concentration involving two major ferry operators active on maritime routes connecting (...)

The French Competition Authority clears merger of 2 fast food restaurant chains, subject to divestitures in a local market (Quick / Burger King France)
Deloitte (Paris)
,
Deloitte (Paris)
The operation notified to the French Competition Authority (FCA) consists in the acquisition of the firm Quick by the firm Burger King France. Burger King and Quick are two fast-food restaurant chains selling hamburgers. The purpose of the operation is to turn 300 Quick restaurants located in (...)

The EU Commission clears a merger, subject to remedies, on the market of chemicals for the mining industry (Solvay / Cytec)
DG COMP (Brussels)
The EU Commission clears a merger, subject to remedies, on the market of the chemicals for the mining industry (Solvay / Cytec)* The European Commission has approved under the EU Merger Regulation the proposed acquisition of Cytec by Solvay. The decision is conditional on Solvay’s divestment (...)

The Chinese MOFCOM approves a merger in the semiconductor industry subjecting it to a fix-it first remedy (NXP / Freescale)
University of Melbourne
,
China Competition Bulletin (Beijing)
,
Hogan Lovells (Beijing)
NXP’s acquisition of Freescale was conditionally approved by the MOFCOM on 27 November 2015. Both companies are major players in the semiconductor industry. The notification was first accepted in May 2015 and review had entered extended phase 2, but the notification was withdrawn and then (...)

The EU Commission approves the acquisition by rival of a data centre operator subject to the divestment of a number of data centres in Amsterdam, London and Frankfurt (Telecity / Equinix)
DG COMP (Brussels)
MERGERS: COMMISSION CLEARS ACQUISITION OF TELECITY BY EQUINIX, SUBJECT TO CONDITIONS* The European Commission has approved the proposed acquisition of data centre operator Telecity by rival Equinix subject to the divestment of a number of data centres in Amsterdam, London and Frankfurt. The (...)

The Italian Competition Authority clears a merger between media operators by imposing a divestiture remedy (Libero Acquisition / Seat Pagine Gialle)
Desogus Law Office (Cagliari)
By a decision made on 11 November 2015 the Italian Competition Authority (ICA) has closed a II-phase investigation into the proposed acquisition of Seat Pagine Gialle (Seat) by Libero Acquisition (Libero) in the Libero Acquisition/Seat Pagine Gialle case . The merging parties were media (...)

The EU Commission approves the creation of a joint venture between two of the world’s leading coffee manufacturers, subject to conditions (DEMB / Mondelēz)
European Commission (Brussels)
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DG COMP (Brussels)
,
DG COMP (Brussels)
"Some like it hot! – coffee merger between DEMB and Mondelēz"* In a nutshell Coffee products belong to a differentiated market where the evaluation of closeness of competition is key to the competitive assessment. Internal documents, views of market participants and economic analysis (...)

Merger remedies and competition law: An overview of EU and national case law
Këllezi Legal (Geneva)
,
Kellerhals Carrard (Lausanne)
Remedies are an important tool for competition authorities in merger control. In most jurisdictions, prohibitions can be avoided by crafting remedies able to resolve competition law concerns. The design and implementation of merger remedies have evolved during the last two decades. Merger (...)

Merger Remedies: An overview of EU and national case law
Quinn Emanuel Urquhart & Sullivan (Brussels)
,
Shearman & Sterling (Brussels)
Introduction If a competition authority considers that a transaction it is reviewing will have a sufficiently negative effect on competition “a significant impediment to effective competition” to borrow the language of the European Commission, the authorities and the companies together reach a (...)

The UK Competition Authority removes several structural merger undertakings given before 1 January 2005 concerning eleven cases
United Kingdom’s Competition Authority - CMA (London)
CMA presses on with remedies removal* The CMA is continuing its drive to ensure that its remedies do not stay in place longer than needed. As part of a series of such reviews, the Competition and Markets Authority (CMA) has looked at remedies resulting from 13 merger investigations and (...)

The Irish Competition Authority clears an acquisition subject to a number of structural remedies in the fuel sector (Topaz / Esso)
Trinity College Dublin
Introduction 1 On 15 October 2015 the Competition and Consumer Protection Commission (CCPC), Ireland’s competition agency, cleared the acquisition by Topaz Investments Limited (Topaz) of Esso Ireland Limited (Esso Ireland), a wholly owned by the Exxon Mobil Corporation, subject to a number of (...)

The French Competition Authority opens ex officio proceedings to review whether a internet provider has respected its merger remedies (SFR / Bouygues Telecom)
French Competition Authority (Paris)
SFR/Bouygues Telecom agreement to deploy fibre in very densely populated areas* Following a complaint made by Bouygues Telecom, the Autorité de la concurrence has opened ex officio proceedings to review the conditions under which Numericable complies with its commitments made in relation to the (...)