Merger Remedies

Foreword Merger remedies and competition law: An overview of recent EU and US case law and policy developments

Over the last three years, merger control has remained an active area of antitrust enforcement in Europe as well as other parts of the world. The global merger boom of the last few years has continued even if it lost some momentum from mid-2018 onwards. According to a report by EY, global M&A in 2020 was tracking below 2019’s value, but still was expected to rank fifth for value of deals in the post-global financial crisis period.

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Antitrust & TradeRx (Zurich)
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Mergers

 The US FTC settles a non-horizontal merger between two pharmaceutical companies (Amgen / Horizon Therapeutics) New
Bona Law (Detroit)
United States 25 contributions 5592 visits
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Bona Law (San Diego)
United States 14 contributions 6246 visits
Lessons from the FTC’s Settlement of the Amgen/Horizon Merger Challenge* In case you missed it on the eve of a holiday weekend, the FTC and several states settled their challenge of Amgen’s acquisition of Horizon last Friday. The case might have seemed like an odd one to antitrust and merger (...)

The US FTC agrees on behavioural remedies with a pharmaceutical company to address the potential competitive harm that may result from a $27.8B acquisition of a global biotechnology company (Amgen / Horizon Therapeutics)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
Biopharmaceutical Giant Amgen to Settle FTC and State Challenges to its Horizon Therapeutics Acquisition* Amgen will be prohibited from leveraging its drug portfolio to disadvantage rivals and will be required to seek prior approval before acquiring related products The Federal Trade (...)

The US FTC accepts behavioural commitments to remedy concerns over a merger in the pharmaceutical sector (Amgen / Horizon) New
Baker Botts (Washington)
United States 2 contributions 326 visits
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Baker Botts (Washington)
United States 3 contributions 482 visits
A Federal Trade Commission (FTC) settlement filed last week with merging pharmaceutical manufacturers re-opens a seemingly foreclosed antitrust path to clearance for parties pursuing non-horizontal mergers and acquisitions where antitrust considerations play a significant role. Background (...)

The US FTC secures a settlement that protects and preserves competition in mortgage technology markets benefitting lenders and homebuyers (ICE / Black Knight)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Secures Settlement with ICE and Black Knight Resolving Antitrust Concerns in Mortgage Technology Deal* Agency obtains relief that protects and preserves competition in mortgage technology markets, benefitting lenders and homebuyers The Federal Trade Commission today approved a proposed (...)

The US FTC obtains innovative structural relief that preserves competition in the natural gas market following a private equity led deal (Quantum Energy Partners / EQT Corporation)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Acts to Prevent Interlocking Directorate Arrangement, Anticompetitive Information Exchange in EQT, Quantum Energy Deal* Agency obtains innovative structural relief that preserves competition in the Appalachian Basin natural gas market following private equity-led deal The Federal Trade (...)

The US FTC secures an innovative structural relief to prohibit interlocking directorates and preserve competition in the natural gas market (Quantum Energy Partners / EQT Corporation)
Sheppard Mullin (Washington)
United States 14 contributions 4999 visits
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Sheppard Mullin (Washington)
United States 2 contributions 241 visits
Antitrust Enforcement Agencies Continue to Target Interlocking Directorate Arrangements* On August 16, 2023, the Federal Trade Commission (“the FTC”) marked its first enforcement action of the prohibitions on interlocking directorates under Section 8 of the Clayton Act in over 40 years. (...)

The EU Commission initiates a formal investigation to determine whether the acquisition of a major media group with significant publishing operations by a rival violates the notification requirement and “standstill obligation” set out in the EU Merger Regulation (Lagardère / Vivendi) Free
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission opens formal investigation for possible breach of notification requirement, standstill obligation and clearance conditions and obligations in Vivendi/Lagardère transaction* The European Commission has decided to open a formal investigation to determine whether, when (...)

The EU Commission clears the acquisition of a visualisation software provider by a hardware company subject to conditions regarding interoperability and source code access (VMware / Broadcom)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears acquisition of VMware by Broadcom, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of VMware by Broadcom. The approval is conditional upon full compliance with the commitments offered by (...)

The EU Commission clears the acquisition of a retail measurement service provider by a rival subject to a divestment commitment (Advent / GfK)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears Advent’s acquisition of GfK subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of GfK by Advent. The approval is conditional upon full compliance with the commitments offered by Advent. Advent, (...)

The EU Commission clears the acquisition of a major media group with significant publishing operations by a rival (Lagardère / Vivendi)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears acquisition of Lagardère by Vivendi, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Lagardère by Vivendi. The Commission’s decision is conditional upon full compliance with the commitments (...)

The EU Commission clears an acquisition application by the Slovenian second largest retail fuel supplier seeking to acquire a rival (OMV Slovenija / MOL)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears acquisition of OMV Slovenija by MOL, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of OMV Slovenija by MOL. The approval is conditional on the divesture of 39 fuel stations in Slovenia to the (...)

The EU Commission conditionally approves the acquisition of a leading video game publisher by a Big Tech company (Microsoft / Activision Blizzard)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears acquisition of Activision Blizzard by Microsoft, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Activision Blizzard (‘Activision’) by Microsoft. The approval is conditional on full compliance (...)

The US DoJ reaches settlement in suit to block a proposed acquisition of a residential door hardware manufacturer’s business division by a rival (ASSA ABLOY / Spectrum)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
Justice Department Reaches Settlement in Suit to Block ASSA ABLOY’s Proposed Acquisition of Spectrum Brands’ Hardware and Home Improvement Division* The Department of Justice announced today that it has reached a settlement in its litigation regarding ASSA ABLOY AB’s (ASSA ABLOY) proposed (...)

The US FTC unanimously votes to overturn its initial decision and orders a biotechnology company to divest the controlling stake in a rival that it had purchased (Illumina / Grail)
Bona Law (Detroit)
United States 25 contributions 5592 visits
Latest Step on Twisty Illumina/Grail Antitrust Merger Challenge Road* The twists and turns of the various antitrust challenges to the proposed Illumina/Grail merger have provided antitrust practitioners numerous lessons the last two years. This week, the FTC commissioners unanimously voted (...)

The EU Commission greenlights the acquisition of two Belgian telecoms by their leading French rival following commitments to grant access to the network to a rival for a period of ten years (VOO / Brutélé / Orange)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears the acquisition of VOO and Brutélé by Orange, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of VOO and Brutélé by Orange. The approval is conditional on full compliance with a commitments (...)

The EU Court of Justice rules that Article 102 TFEU permits the ex post review of completed mergers at the national level, with a non-Community dimension (Towercast)
Freshfields Bruckhaus Deringer (Berlin)
Germany 7 contributions 5626 visits
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Competition and Markets Authority (London)
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Freshfields Bruckhaus Deringer (London)
United Kingdom 1 contribution 400 visits
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The European Court of Justice ( CJEU ) handed down its judgment in Towercast on 16 March 2023, confirming Advocate General Juliane Kokott’s Opinion from October 2022 that the prohibition on abuse of dominance under Article 102 TFEU is applicable to certain non-reportable mergers by dominant (...)

The EU Court of Justice confirms that the national authorities can review ex post below-threshold mergers under abuse of dominance rules (Towercast)
White & Case (Brussels)
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Schibsted (Oslo)
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White & Case (Brussels)
Belgium 38 contributions 65540 visits
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The long-awaited European Court of Justice’s judgment in Towercast confirmed that national competition authorities (and national courts) can apply abuse of dominance rules to mergers that did not trigger EU and national merger control thresholds, and were not referred to the European (...)

The EU Commission conditionally approves the acquisition of a company in the market for the development and supply of chemical admixtures and construction materials (Sika / MBCC)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears the acquisition of MBCC by Sika, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of MBCC by Sika. The approval is conditional on the divestiture of MBCC’s global chemical admixture business. (...)

The EU Commission approves the acquisition of a major salmon farmer by a rival subject to a divestment (SalMar / NTS)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission approves SalMar’s acquisition of NTS, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of NTS by SalMar. The approval is conditional on full compliance with commitments offered by SalMar. SalMar is one (...)

The EU Commission approves a major international tobacco and nicotine producer’s acquisition of a Swedish rival, subject to a divestment (Philip Morris / Swedish Match)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission approves Philip Morris International’s acquisition of Swedish Match, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Swedish Match by Philip Morris International. The approval is conditional on full (...)

The EU Commission approves the acquisition of a recycled aluminium producer by an investment fund subject to the divestment of two facilities (KPS Special Situations Fund V / Evergreen Holding Germany / Real Alloy UK Holdco)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission approves KPS acquisition of Real Alloy Europe, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Evergreen Holding Germany GmbH and Real Alloy UK Holdco Ltd (‘Real Alloy Europe’) by KPS Special (...)

The US FTC finalises its consent order permitting a private equity firm to acquire a number of clinics providing emergency veterinary services subject to divestments (JAB Consumer Partners / Ethos)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Final Order against JAB Consumer Partners to Protect Pet Owners from Private Equity Firm’s Rollup of Veterinary Services Clinics* Following a public comment period, the Federal Trade Commission has finalized a consent order against JAB Consumer Partners designed to prevent the (...)

The US FTC approves the acquisition of a shop selling goods to small farmers and ranchers by a rival subject to divestments (Tractor Supply / Orscheln Farm and Home)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Consent Order Addressing Concerns Over Tractor Supply’s Acquisition of Orscheln Farm and Home* Order requires Tractor Supply to divest Orscheln stores, corporate offices, and distribution center to smaller farm store chains The Federal Trade Commission approved a consent order (...)

The EU Commission approves the acquisition of the materials arm of the world’s largest chemical company by a rival materials company, subject to divestments (Celanese / DuPont)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission approves Celanese’s acquisition of DuPont’s Mobility and Materials Business, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of DuPont’s Mobility and Materials Business by Celanese. The approval is (...)

The US FTC approves a final order requiring an oil extractor to sell off its Utah operations before being acquired by a private equity firm (EnCap / EP Energy)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Final Order Requiring EnCap to Sell Off EP Energy Corp’s. Entire Utah Oil Business* Settlement Prevents Private Equity Fund from Eliminating Significant Competitor in Utah Waxy Crude Oil Following a public comment period, the Federal Trade Commission has approved a final order (...)

The US FTC approves a $1.1B acquisition of a chain of vets by a private equity firm subject to divestment of practices in California and Texas (JAB Consumer Partners / SAGE Veterinary Partners)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Final Order Protecting Pet Owners from Private Equity Firm’s Anticompetitive Acquisition of Veterinary Services Clinics* FTC Acts to Preserve Competition in Markets for Specialty and Emergency Veterinary Services Following a public comment period, the Federal Trade Commission (...)

The US FTC approves final order requiring two enamel production companies to sell off three facilities amid concerns that the merger would increase concentration in North American market for porcelain enamel frit (Prince International / Ferro)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Final Order Requiring Prince International Corp. and Ferro Corp. to Sell Off Three Facilities amid Concerns that Deal would Increase Concentration in North American Market for Porcelain Enamel Frit* FTC also Acts to Preserve Competition in Markets for Forehearth Colorants and (...)

The US FTC permits the acquisition of 60 petrol stations by an investment company subject to the waiving of non-compete obligations deemed to be facially over-broad in scope (GPM Investments / Corrigan Oil)
McDermott Will & Emery (Washington)
United States 36 contributions 5936 visits
WHAT HAPPENED GPM Investments (GPM) acquired 60 gas stations from Corrigan Oil (Corrigan). As part of the acquisition agreement, Corrigan agreed not to compete for a period of time with the gas stations purchased from Corrigan. In addition, Corrigan agreed not to compete with GPM for another (...)

The US FTC seeks to force two merging gas distributors to sell off operations in three local markets over competition concerns (Buckeye Partners / Magellan Midstream Partners)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
The Federal Trade Commission today took action to protect competition in gasoline, diesel, and other fuel markets in South Carolina and Alabama, requiring pipeline and storage companies Buckeye Partners, L.P. and Magellan Midstream Partners, L.P. to divest to U.S. Venture, Inc. petroleum (...)

The US FTC requires two companies to sell off three facilities amid concerns that the deal would increase concentration in the North American market for porcelain enamel frit (Prince / Ferro)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Requires Prince and Ferro to Sell Off Three Facilities amid Concerns that Deal would Increase Concentration in North American Market for Porcelain Enamel Frit* Absent a Remedy, the Merger Would Also Likely Harm Competition in Markets for Forehearth Colorants and Glass Enamel The (...)

The US FTC imposes conditions on a pharma merger to preserve competition for development and marketing of steroid injectable drug (Hikma Pharmaceuticals / Custopharm)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
Federal Trade Commission Preserves Competition for Development and Marketing of Steroid Injectable Drug* Absent a Remedy, Acquisition Likely Would Lead to Significant Price Increases for Patients who Need Injectable TCA to Treat Severe Skin Conditions, Allergies and Inflammation The (...)

The EU Commission approves an acquisition between two leading global aerospace component suppliers, subject to conditions (Parker / Meggitt)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission approves Parker’s acquisition of Meggitt, subject to conditions * The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Meggitt by Parker. The approval is conditional on full compliance with commitments offered by Parker. (...)

The UK Competition Authority and US DoJ block the merger of two Finnish suppliers of equipment to port operators and reject the remedies offered by the parties (Cargotec / Konecranes)
Morrison & Foerster (Washington)
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Morrison & Foerster (London)
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Morrison & Foerster (Brussels)
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This article has been nominated for the 2023 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards. Cargotec/Konecranes: Failed shipping equipment merger illustrates aggressive UK/U.S. enforcement and increased skepticism of remedies* On March 29, 2022, (...)

The US FTC requires the divestiture of an energy producer’s entire business and assets in Utah prior to its acquisition by a private equity fund (EnCap / EP Energy)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Requires ENCAP to Sell Off EP Energy Corp.’s Entire Utah Oil Business amid Concerns that Deal would Increase Pain at the Pump* Agency Seeks to Prevent Private Equity Fund from Eliminating Significant Competitor in Utah Waxy Crude Oil The Federal Trade Commission will require the (...)

The US FTC approves a final order imposing divestitures and protecting retail fuel customers following the acquisition of 27 retail gasoline and diesel outlets (Global Partners / Richard Wiehl)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Global Partners LP’s acquisition of 27 retail gasoline and diesel outlets owned or operated by Richard Wiehl violates federal antitrust laws. Under the terms of the final (...)

The EU Commission conditionally clears the merger between 2 providers of cargo and load handling services (Cargotec / Konecranes)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears the merger of Cargotec with Konecranes, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed merger between Cargotec and Konecranes. The approval is conditional on the divestiture of certain businesses. (...)

The US FTC approves modifications to a divestiture agreement of a medical device company following a merger with a pharmaceutical supplier (Boston Scientific / BTG)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Modifications to Boston Scientific Corp. Divestiture Agreement* The Federal Trade Commission has approved certain modifications to medical device company Boston Scientific Corp.’s Divestiture Agreements. The FTC approved these agreements and incorporated them into its order as (...)

The EU Commission, along with the German and UK Competition Authorities clears the acquisition of a provider of customer relationship management software by a Big Tech company (Meta / Kustomer)
Van Bael & Bellis (Brussels)
Belgium 38 contributions 9518 visits
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Van Bael & Bellis (London)
United Kingdom 16 contributions 3484 visits
On 27 January 2022, the Commission conditionally cleared Meta’s (formerly Facebook) acquisition of Kustomer, a small, innovative customer relationship manager (“CRM”) software creator. In a parallel process, the German Federal Cartel Office (“FCO”) cleared the same transaction with regard to (...)

The US FTC approves a pharmaceutical supplier’s petition for prior approval of its acquisition of the chromatography equipment business of a service provider in the pharmaceutical and biopharmaceutical industries (Sartorius Stedim Biotech / Novasep Process)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Sartorius Stedim Biotech S.A.’s Petition for Prior Approval of its Acquisition of the Chromatography Equipment Business of Novasep Process SAS* The Federal Trade Commission has approved a petition from Sartorius Stedim Biotech S.A. to acquire the chromatography equipment (...)

The EU Commission clears the merger between a Big Tech company and a provider of customer service and support CRM software, subject to conditions (Meta / Kustomer)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears acquisition of Kustomer by Meta (formerly Facebook), subject to conditions* The European Commission has today approved under the EU Merger Regulation the proposed acquisition of Kustomer by Meta (formerly Facebook). The approval is conditional on full compliance (...)

The US FTC approves a final order requiring northeast supermarkets to sell 12 stores as a condition of a merger (Price Chopper / Tops Market)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Final Order Requiring Northeast Supermarkets Price Chopper and Tops Market Corp. to Sell 12 Stores as a Condition of Merger* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that the merger of New York-based supermarket (...)

The US FTC approves a final order settling charges that a merger between two pharmaceutical companies harmed competition in the markets for an antibiotic used to treat infections and an oral steroid product used to treat inflammation (ANI Pharmaceuticals / Novitium Pharma)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Final Order Requiring Generic Drug Marketers ANI Pharmaceuticals, Inc. and Novitium Pharma LLC to Divest Rights and Assets to Generic Sulfamethoxazole-Trimethoprim Oral Suspension and Generic Dexamethasone Tablets* Following a public comment period, the Federal Trade Commission (...)

The US FTC approves a final order settling charges that a dialysis service provider’s acquisition of clinics would reduce competition in vital outpatient dialysis services in the Utah market (DaVita)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Final Order Imposing Strict Limits on Future Mergers by Dialysis Service Provider DaVita, Inc* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that dialysis service provider DaVita, Inc.’s acquisition of the University (...)

The US FTC issues an order aimed at protecting retail fuel customers following a merger between 2 companies in the energy sector (Global Partners / Richard Wiehl)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Order Protects Retail Fuel Customers Following Global Partners LP’s Acquisition of Wheels* Proposed order preserves competition by requiring divestiture of 7 retail gasoline and diesel stations in Connecticut Global Partners LP and Richard Wiehl have agreed to divest to Petroleum (...)

The EU Commission clears a merger between 2 waste management companies, subject to conditions (Derichebourg / Ecore)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears Derichebourg’s acquisition of Groupe Ecore, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Groupe Ecore by Derichebourg. The approval is conditional on full compliance with a commitments (...)

The EU Commission announces the withdrawal of two airline companies from a proposed acquisition in the passenger air transport sector (IAG / Globalia / Air Europa)
Arnold & Porter Kaye Scholer (Brussels)
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McDermott Will & Emery (Washington)
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McDermott Will & Emery (Washington)
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IAG, owner of leading airlines in Ireland, Spain and the UK, sought to acquire Air Europa from Globalia and provided notification of the transaction to the Commission in May 2021. IAG, owner of Iberia and Vueling, is the largest airline in Spain and Air Europa is the third-largest airline in (...)

The EU Commission approves a merger in the waste management sector, subject to conditions (Veolia / Suez)
Arnold & Porter Kaye Scholer (Brussels)
Belgium 64 contributions 98651 visits
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McDermott Will & Emery (Paris)
France 28 contributions 3966 visits
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McDermott Will & Emery (Washington)
United States 13 contributions 2778 visits
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On December 14, 2021, the Commission conditionally cleared in Phase I Veolia’s acquisition of Suez. The Commission deemed Veolia’s comprehensive commitments sufficient to assuage the Commission’s competition concerns, without the need for a Phase 2 investigation. The Commission found that (...)

The EU Commission approves the merger between two companies in the water and waste management sectors, subject to conditions (Veolia / Suez)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission approves the acquisition of Suez by Veolia, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Suez by Veolia. The approval is conditional on full compliance with a commitments package offered by (...)

The US FTC approves the modification of remedies regarding the acquisition of a natural gas joint venture by a gas transmission pipeline (DTE Energy / Nexus)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Modification of Final Order Related to NEXUS Gas Transmission, LLC, a Natural Gas Joint Venture* Following a public comment period, the Federal Trade Commission has approved a petition by DTE Energy Company to reopen and modify the FTC’s 2019 final order. The order remedied the (...)

The US FTC approves modifications to a pharmaceutical company’s divestiture agreement in the context of its previous acquisition of a competitor (Bristol Meyers Squibb / Celgene)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Modifications to Bristol Meyers Squibb Divestiture Agreement* The Federal Trade Commission has approved certain modifications to Bristol Meyers Squibb’s, or BMS’s, Divestiture Agreements that the FTC approved and incorporated into its order as part of a consent that was required (...)

The US DoJ requires substantial divestitures and the waiving of the non-compete agreement before clearing a merger between two information providers (S&P Global / IHS Markit)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
Justice Department Requires Substantial Divestitures and Waiver of a Non-Compete for S&P to Proceed with its Merger with IHS Markit* Divestitures Will Preserve Competition Among Commodity Price Reporting Agencies and Waiver of Non-Compete Will Promote Competition for the Sale of Retail (...)

The US DoJ requires divestitures following the proposed merger between a national dairy company and a food and beverage producer (Lactalis / Kraft Heinz)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
Justice Department Requires Divestitures in Lactalis’s Acquisition of Kraft Heinz’s Natural Cheese Business in the United States* Divestitures of Kraft Heinz’s Athenos and Polly-O Businesses Will Preserve Competition in the Sale of Feta and Ricotta Cheese The Department of Justice (...)

The US FTC approves a final order requiring a national convenience store chain to divest itself of several of its gas stations for impeding competition in several States (7-Eleven / Speedway)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Final Order Requiring Divestitures of Hundreds of Retail Gas and Diesel Fuel Stations Owned by 7-Eleven, Inc.* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that 7-Eleven’s acquisition of Marathon’s Speedway (...)

The US FTC requires two generic drug marketing companies to divest rights and assets on two generic products as a condition for the merger (ANI Pharmaceuticals / Novitium Pharma)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Requires Generic Drug Marketers ANI Pharmaceuticals, Inc. and Novitium Pharma LLC to Divest Rights and Assets to Two Generic Products as Condition of Merger* Order preserves competition in U.S. markets for generic sulfamethoxazole-trimethoprim oral suspension and generic dexamethasone (...)

The EU Commission announces interim measures to avert possibly irreversible consequences of a merger between two pharmaceutical companies (Illumina / Grail)
Van Bael & Bellis (Brussels)
Belgium 53 contributions 22829 visits
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Van Bael & Bellis (Brussels)
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Van Bael & Bellis (Brussels)
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Less than a month ago, the European Commission (the Commission) announced that it would open an investigation to determine whether Illumina’s decision to acquire Grail pending its review of that transaction under Regulation 139/2004 on the control of concentrations between undertakings (the (...)

The US FTC announces the restriction of future acquisitions for firms that pursue anticompetitive mergers
McDermott Will & Emery (Washington)
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McDermott Will & Emery (Washington)
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Arnold & Porter Kaye Scholer (Brussels)
Belgium 64 contributions 98651 visits
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On October 25, 2021, the FTC announced a return to the practice of including prior approval provisions in consent decrees for allegedly anticompetitive mergers. This means that in addition to divesting a business, the FTC is requiring companies to obtain FTC prior approval before purchasing (...)

The EU Commission approves a merger, subject to conditions, between two leaders in the commodity and financial data markets (S&P Global / IHS Markit)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Commission approves acquisition of IHS Markit by S&P Global, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of IHS Markit by S&P Global. The approval is conditional on the divestment of businesses in the areas of (...)

The EU General Court dismisses actions against two of the Commission’s decisions authorizing mergers in the market for passenger air travel (Polskie Linie Lotnicze / easyJet / Lufthansa / Air Berlin)
General Court of the European Union (Luxembourg)
Luxembourg 62 contributions 29597 visits
The General Court dismisses the actions of Polskie Linie Lotnicze ‘LOT’ against the Commission decisions authorising the mergers concerning the acquisition by easyJet and Lufthansa, respectively, of certain assets of the Air Berlin group* Faced with a persistent deterioration of its (...)

The US DoJ requires divestitures for a merger between two national manufacturers of iron products (Neenah / US Foundry)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
Justice Department Requires Divestitures in Neenah Enterprises Inc.’s Acquisition of US Foundry* Divestitures Will Preserve Competition for Essential Construction Products Sold to Towns and Municipalities The Department of Justice announced today that it will require Neenah Enterprises (...)

The US DoJ issues a statement following the FTC’s vote to withdraw from the vertical merger guidelines
US Department of Justice (Washington)
United States 176 contributions 74642 visits
Justice Department Issues Statement on the Vertical Merger Guidelines* Acting Assistant Attorney General Richard A. Powers of the Justice Department’s Antitrust Division issued the following statement today after the Federal Trade Commission (FTC) voted to withdraw from the 2020 Vertical (...)

The US DoJ requires divestitures for a proposed merger between two banks (BancorpSouth Bank / Cadence Bank)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
Justice Department Requires Divestitures in BancorpSouth Bank’s Merger with Cadence Bank* Divestiture of Seven Mississippi Branches will Protect Consumers in Rural Communities and Small Towns The Department of Justice announced today that BancorpSouth Bank and Cadence Bank have agreed to (...)

The US DoJ requires substantial divestitures in the merger between two national manufacturing companies to protect consumers and small businesses (Gray / Quincy)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
Justice Department Requires Substantial Divestitures in Gray’s Acquisition of Quincy to Protect American Consumers and Small Businesses* Gray and Quincy Must Divest 10 Broadcast Television Stations in Seven Local Markets The Department of Justice announced today that it will require Gray (...)

The EU Commission approves an acquisition subject to conditions in the telecommunications sector (Telekom Romania / Orange)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Telekom Romania Communications (“TKR”) by Orange SA (“Orange”). The approval is conditional on the divestiture of TKR’s 30% minority shareholding in Telekom Romania Mobile Communications (“TRMC”), (...)

The EU Commission clears the merger between two insurance companies subject to conditions (Aon / Willis Towers Watson)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears acquisition of Willis Towers Watson by Aon, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the acquisition of Willis Towers Watson (‘WTW’) by Aon. The approval is conditional on full compliance with a substantial set of (...)

The US DoJ announces that two automotive-parts suppliers will restructure their merger in light of competition concerns (Tupy / Teksid)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
Major International Automotive-Parts Suppliers Restructure Deal to Resolve Antitrust Concerns* Auto parts supplier Tupy agreed to restructure its acquisition of Teksid after the Department of Justice raised concerns that the merger would result in higher prices and reduced quality and (...)

The EU Commission opens an in-depth investigation into proposed merger between two airline companies (Air Europa / IAG)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission opens in-depth investigation into proposed acquisition of Air Europa by IAG* The European Commission has opened an in-depth investigation to assess the proposed acquisition of Air Europa by IAG, under the EU Merger Regulation. The Commission is concerned that the proposed (...)

The US FTC orders the divestiture of hundreds of shops following the acquisition of a retail fuel chain by the largest national convenience store chain (7-Eleven / Speedway)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Orders the Divestiture of Hundreds of Retail Stores Following 7-Eleven, Inc.’s Anticompetitive $21 Billion Acquisition of the Speedway Retail Fuel Chain* Proposed order prohibits 7-Eleven from enforcing noncompete provisions for franchisees or employees working at or doing business with (...)

The US DoJ requires substantial divestitures in the merger between a grain company and a Japanese association of agricultural cooperatives to protect American farmers (Zen-Noh / Bunge)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
Justice Department Requires Substantial Divestitures in Zen-Noh Acquisition of Grain Elevators from Bunge to Protect American Farmers* Zen-Noh Must Divest Nine Grain Elevators so that Farmers Along the Mississippi River and Its Tributaries Continue to Have the Same Number of Options to Sell (...)

The US DoJ approves a merger between two Midwestern banks subject to the divestment of 13 selected local bank branches (Huntington Bancshares / TCF Financial)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
Justice Department Requires Divestitures in Huntington Bancshares Incorporated’s Acquisition of TCF Financial Corporation* Thirteen Branches in Michigan will be Divested — Ensuring Bank Customers Have Access to Competitively Priced Products and Services The Department of Justice announced (...)

The EU Commission imposes a € 7.5 million fine on a chemical company for providing misleading information during the review of its acquisition (Merck / Sigma-Aldrich)
Van Bael & Bellis (Brussels)
Belgium 38 contributions 9518 visits
On 3 May 2021, the Commission imposed a € 7.5 million fine on Sigma-Aldrich for providing incorrect and misleading information during the Commission’s review of its acquisition by Merck. While this is only the third fine the Commission has imposed on this basis, it extends the Commission’s (...)

The EU Commission fines a pharmaceutical company €7.5M for providing inaccurate information during review of an acquisition application (Merck / Sigma-Aldrich)
McDermott Will & Emery (Paris)
France 32 contributions 7478 visits
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McDermott Will & Emery (Paris)
France 28 contributions 3966 visits
On 3 May 2021, the EC fined Sigma-Aldrich EUR 7.5 million for providing incorrect or misleading information during the EC’s review of Merck’s planned acquisition of the company. Background On 21 April 2015, Merck notified the EC of its plan to acquire Sigma-Aldrich. On 15 June 2015, the EC (...)

The EU Commission approves the merger between two waste management companies subject to conditions (Schwarz / Suez)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission approves acquisition of certain Suez waste management companies by the Schwarz Group, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the acquisition of certain Suez waste management companies in Germany, Luxembourg, the (...)

The US DoJ requires a waste management company to divest its assets in five states to proceed with the acquisition of its competitor (Republic / Santek)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
Justice Department Requires Republic Services to Divest Assets to Proceed with Santek Acquisition* Divestiture Will Preserve Competition in Markets for Small Container Commercial Waste Collection and Municipal Solid Waste Disposal in Six Local Markets in Five States The Department of (...)

The EU Commission clears a merger between two optical retailers and manufacturers subject to conditions (EssilorLuxottica / GrandVision)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears acquisition of GrandVision by EssilorLuxottica, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of GrandVision by EssilorLuxottica. The approval is conditional on full compliance with commitments (...)

The EU Commission clears a vertical merger between a supplier of ophthalmic lenses and an active eyewear retailer following an in-depth investigation focused on competition concerns that could arise from the combination of both undertakings (EssilorLuxottica / GrandVision)
RBB Economics (Brussels)
Belgium 2 contributions 71 visits
Introduction In recent years, some commentators have called for more enforcement in vertical mergers, arguing that these have a greater potential to be anticompetitive than has historically been presumed. They have highlighted the need to assess “less extreme” theories of harm, which do not (...)

The EU Commission clears subject to conditions a merger between two energy providers (Eaton Hydraulics / Danfoss)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears acquisition of Eaton Hydraulics by Danfoss, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Eaton’s hydraulics business (“Eaton Hydraulics”) by Danfoss. The approval is conditional on full (...)

The US DoJ enters into a settlement agreement with two healthcare providers following a competition concern raised against the proposed merger, which limits the scope of their partial acquisition and collaboration (Geisinger / Evangelical)
Axinn Veltrop & Harkrider (Washington)
United States 2 contributions 114 visits
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U.S. House of Representatives Committee on the Judiciary
2 contributions 114 visits
This article has been nominated for the 2022 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards. On March 3, 2021, the Antitrust Division of the Department of Justice (DOJ) announced a settlement with Geisinger Health (Geisinger) and Evangelical Community (...)

The US DoJ reaches a settlement with two leading central Pennsylvanian healthcare providers regarding their merger (Geisinger Health / Evangelical Community Hospital)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
Justice Department Resolves Antitrust Case Against Leading Central Pennsylvania Health Care Providers* Settlement Protects Hospital Competition in this Region The Department of Justice announced today that it has reached a settlement with Geisinger Health (Geisinger) and Evangelical (...)

The EU Commission concludes that the merger of a financial trading platform and a financial data provider will lead to an incentive to raise rival costs due to its dominance on the market if conditions are not met (Refinitiv / London Stock Exchange Group)
Charles River Associates International (CRA) (London)
United Kingdom 3 contributions 5903 visits
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Charles River Associates International (CRA) (Chicago)
United States 2 contributions 750 visits
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Charles River Associates International (CRA) (London)
United Kingdom 2 contributions 1003 visits
LSEG/Refinitiv: Modelling of efficiencies in non-horizontal mergers* The Commission’s non-horizontal merger guidelines acknowledge that vertical mergers provide substantial scope for efficiencies but also outline an efficiencies assessment based on the framework developed in horizontal (...)

The EU Commission conditionally clears a merger in the radiotherapy solutions market and subjects it to interoperability commitments (Siemens / Varian Healthineers)
Van Bael & Bellis (Brussels)
Belgium 38 contributions 9518 visits
On 19 February 2021, the Commission conditionally cleared the acquisition of Varian by Siemens’ subsidiary Siemens Healthineers. Varian is a leading US supplier of radiotherapy solutions used to plan and deliver radiotherapy treatment, while German-based Siemens Healthineers is a leading (...)

The EU Commission clears the acquisition of American medical devices provider by leading medical imaging solutions company subject to conditions (Varian / Siemens Healthineers)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears acquisition of Varian by Siemens Healthineers, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Varian Medical Systems by Siemens AG, through its subsidiary Siemens Healthineers. The approval (...)

The EU Commission imposes final measures in a merger after delay in divestiture in the aluminium automotive body sheets market (Novelis / Aleris)
Van Bael & Bellis (Brussels)
Belgium 38 contributions 9518 visits
On 18 February 2021, the Commission imposed final measures on aluminium manufacturer Novelis related to the belated divestment of a production plant required as a condition of the Commission’s clearance of the Novelis/ Aleris merger in 2019. Novelis had obtained conditional clearance to (...)

The EU Commission adopts final measures to preserve the divestment of a former company plant in Belgium after a merger (Novelis / Aleris)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers : Commission adopts final measures to preserve the divestment of former Aleris plant in Belgium following Novelis’ acquisition of Aleris* The European Commission has adopted final measures to preserve the divestment of the former Aleris plant in Duffel, Belgium, by Novelis under the (...)

The US Court of Appeals for the Fourth Circuit upholds the first divestiture order in an antitrust suit brought by a private party challenging a merger, years after the transaction, in the door manufacturing sector (Steves & Sons / Jeld-Wen / CMI)
Clifford Chance (Washington)
United States 11 contributions 2541 visits
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Baker Botts (Washington)
United States 2 contributions 557 visits
On February 18, 2021, the U.S. Court of Appeals for the Fourth Circuit upheld the first divestiture order in an antitrust suit brought by a private plaintiff which challenged its rival’s acquisition four years after the transaction. Post-consummation merger challenges are rare and—until (...)

The US Court of Appeals for the Fourth Circuit upholds its earlier decision ordering the divestiture of a corporate acquisition in a private antitrust lawsuit (Steves & Sons / Jeld-Wen / CMI)
Herbert Smith Freehills (New York)
United States 1 contribution 113 visits
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Latham & Watkins (London)
United Kingdom 3 contributions 355 visits
On March 22, 2021, the US Court of Appeals for the Fourth Circuit upheld its earlier decision ordering the divestiture of a corporate acquisition in a private antitrust lawsuit, where US merger control authorities had previously cleared the transaction. The decision represents the first time (...)

The EU Commission clears an acquisition, subject to conditions, of a Belgian agricultural products company by a Japanese trading house (Mitchui / Bechim)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears acquisition of Belchim by Mitsui, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Belchim by Mitsui. The approval is conditional on full compliance with a commitments package offered by (...)

The US FTC approves merger between two national pharmaceutical companies subject to conditions (Pfizer / Mylan)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Final Order Imposing Conditions on Combination of Pfizer Inc.’s Upjohn and Mylan N.V.* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that the combination of the Upjohn division of pharmaceutical company Pfizer and (...)

The EU General Court rejects a rival’s challenge to the Commission’s decision allowing two Dutch cable operators to merge subject to conditions (KPN)
McDermott Will & Emery (Paris)
France 32 contributions 7478 visits
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McDermott Will & Emery (Paris)
France 28 contributions 3966 visits
On 27 January 2021, the GCEU confirmed the EC’s decision declaring the merger of the two main Dutch cable operators, Ziggo N.V. and Liberty Global Plc, compatible with the internal market, thus rejecting the action introduced by their competitor, KPN BV, a provider of retail television offers (...)

The EU Commission conditionally clears the acquisition of a financial data products provider by a leading financial infrastructure company (Refinitiv / London Stock Exchange Group)
Van Bael & Bellis (Brussels)
Belgium 38 contributions 9518 visits
On 13 January 2021, the European Commission (“Commission”) conditionally cleared the London Stock Exchange Group’s (“LSEG”) acquisition of financial data products provider Refinitiv following an in-depth (Phase 2) investigation. LSEG is a leading financial infrastructure company, which (...)

The EU Commission clears acquisition of American financial markets data and infrastructure provider by a financial infrastructure company subject to conditions (Refinitiv / London Stock Exchange Group)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears acquisition of Refinitiv by London Stock Exchange Group, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the acquisition of Refinitiv by the London Stock Exchange Group (‘LSEG’). The approval is conditional on full (...)

The US FTC imposes conditions on wine and spirit maker’s acquisition of assets from a competitor (E. & J. Gallo Winery / Constellation Brands)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Imposes Conditions on E. & J. Gallo Winery’s Acquisition of Assets from Constellation Brands, Inc.* Wine and spirits maker E. & J. Gallo Winery has agreed to divest several product lines and remove certain others from its asset purchase agreement with competitor Constellation (...)

The EU Commission conditionally approves a merger between automotive companies (Fiat Chrysler / Peugeot)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission approves the merger of Fiat Chrysler Automobiles N.V. and Peugeot S.A., subject to conditions * The European Commission has approved, under the EU Merger Regulation, the proposed merger between the automotive companies Fiat Chrysler Automobiles N.V. (‘FCA’) and Peugeot (...)

The EU Commission conditionally clears the acquisition by a Big Tech company of a smartwatch company active in several complementary markets, including app stores, online advertising, and the nascent digital healthcare sector (Fitbit / Google)
Norton Rose Fulbright (Brussels)
États-Unis 31 contributions 13953 visites
Google/Fitbit – The EU Commission Misses a Step* The European Commission’s 254-page decision approving Google’s acquisition of Fitbit (the “Decision”) offered the Commission a so-far unique opportunity to apply the 2019 report on “Competition policy for the digital era’s” (the “Digital Era (...)

The EU Commission clears the acquisition of a manufacturer of consumer-health devices by a Big Tech company, subject to conditions (Fitbit / Google)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears acquisition of Fitbit by Google, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the acquisition of Fitbit by Google. The approval is conditional on full compliance with a commitments package offered by Google. (...)

The EU Commission clears subject to conditions the acquisition of a healthcare devices manufacturer by a US tech giant (Fitbit / Google)
Van Bael & Bellis (Brussels)
Belgium 38 contributions 9518 visits
On 17 December 2020, following a Phase II investigation, the Commission approved Google’s acquisition of Fitbit subject to commitments. Fitbit is an American company that develops and sells wearable fitness devices such as smartwatches and fitness trackers, as well as related software and (...)

The US DoJ requires divestiture of commercial health insurance business for a healthcare merger in New Hampshire to proceed (Harvard Pilgrim / Health Plan Holdings)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
Justice Department Requires Divestiture of Tufts Health Freedom Plan in Order for Harvard Pilgrim and Health Plan Holdings to Proceed With Merger* Divestiture Will Preserve Competition for Commercial Health Insurance in New Hampshire The Department of Justice announced today that it would (...)

The EU Commission approves Japanese ink manufacturer’s acquisition of colorants and effect pigments company, subject to conditions (DIC / BASF Colors & Effects)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission approves DIC’s acquisition of BASF Colors & Effects, subject to conditions The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of BASF Colors & Effects by the DIC Corporation (‘DIC’). The approval is conditional on full (...)

The US FTC approves a prosthetics manufacturer’s application to divest assets it gained through the acquisition of prosthetics company (Otto Bock / Freedom)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Otto Bock HealthCare North America, Inc.’s Application to Divest Assets It Gained through Acquisition of FIH Group Holdings, LLC* Divestiture preserves competition for microprocessor prosthetic knees The Federal Trade Commission has approved an application by prosthetics (...)

The EU Commission clears several telecommunication undertakings’ acquisition of a fibre network operator, subject to conditions (Altice / Allianz / Omer / Covage)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears Altice, Allianz and Omers’ joint acquisition of Covage, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Covage by SFR FTTH, a company jointly controlled by Altice, Allianz and Omers. The (...)

The US DoJ requires divestiture of digital do-it-yourself tax preparation business for the merger of financial software companies to proceed (Intuit / Credit Karma)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
Justice Department Requires Divestiture of Credit Karma Tax for Intuit to Proceed with Acquisition of Credit Karma* Divestiture Will Preserve Competition for Digital Do-It-Yourself Tax Preparation Products The Department of Justice announced today that it is requiring Intuit Inc. and (...)

The US FTC clears a merger between two medical device companies subject to divestments (Stryker / Wright Medical Group)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Requires Medical Device Companies Stryker Corp. and Wright Medical Group N.V. to Divest Assets to Preserve Competition* The Federal Trade Commission will require medical device companies Stryker Corp. and Wright Medical Group N.V. to divest all assets related to Stryker’s total ankle (...)

The US FTC imposes conditions on a pharmaceutical merger because of competition concerns in ten generic drug markets (Mylan / Upjohn)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Imposes Conditions on Combination of Pfizer Inc.’s Upjohn and Mylan N.V.* Pharmaceutical companies Pfizer Inc. and Mylan N.V. have agreed to divest assets and abide by other conditions to settle Federal Trade Commission charges that the proposed combination of Upjohn Inc. and Mylan N.V. (...)

The US DoJ conditionally clears a fibre-based telecom merger in Puerto Rico and the US Virgin Islands (Liberty Latin America / AT&T)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
Justice Department Requires Divestiture In Order For Liberty Latin America To Acquire AT&T’s Telecommunications Operations In Puerto Rico And The U.S. Virgin Islands* Divestiture Will Preserve Competition for Fiber-Based Telecommunications Services for Enterprise Customers in Puerto Rico (...)

The US DOJ conditionally clears a merger in markets for small container commercial waste collection and municipal solid waste disposal in over 50 local markets in 10 States (Waste Management / Advanced Disposal Services)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
Justice Department Requires Waste Management To Divest Assets In Order To Proceed With Advanced Disposal Services Acquisition* Divestiture Will Preserve Competition in Markets for Small Container Commercial Waste Collection and Municipal Solid Waste Disposal in Over 50 Local Markets in 10 (...)

The US FTC requests public comment on prosthetics manufacturer’s application to approve divestiture of assets it gained during acquisition (Otto Bock / Freedom)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Requests Public Comment on Otto Bock HealthCare North America, Inc.’s Application to Approve Divestiture of Assets It Gained through Acquisition of FIH Group Holdings, LLC* The Federal Trade Commission is currently accepting public comments on an application by prosthetics manufacturer (...)

The US FTC approves final order imposing divestitures as a condition of a merger in the markets for gasoline and diesel fuel (Arko Holdings / Empire Petroleum Partners)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Final Order Imposing Conditions on Arko Holdings Ltd.’s Acquisition of Empire Petroleum Partners, LLC* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Arko Holdings Ltd.’s acquisition of Empire Petroleum Partners, (...)

The EU General Court provides useful jurisdictional clarifications for deals involving joint ventures acting as an acquirer (Cemex Croatia / HeidelbergCement / Schwenk)
European Commission - DG COMP (Brussels)
Belgique 6 contributions 1160 visites
Jurisdictional issues in deals involving joint ventures – Review of the General Court judgment in Heidelberg Cement and Schwenk Zement (T-380/17)* The judgment provides useful jurisdictional clarifications for deals involving joint ventures (JVs) acting as an acquirer. The General Court (GC) (...)

The EU Commission conditionally clears a merger in the payment services sector (Worldline / Ingenico)
Van Bael & Bellis (Brussels)
Belgium 38 contributions 9518 visits
On 30 September 2020, the European Commission (“Commission”) conditionally cleared Worldline’s acquisition of Ingenico, two French providers of payment and transaction services. The Commission raised concerns that the parties’ activities overlapped in the provision of point-of-sale (“POS”) (...)

The EU Commission approves merger in the payment services sector, subject to conditions (Worldline / Ingenico)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission approves Worldline’s acquisition of Ingenico, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Ingenico by Worldline, both active in the payment services sector. The approval is conditional on full (...)

The US DoJ requires divestiture in the acquisition of a craft brew alliance (Anheuser-Busch InBev / Craft Brew Alliance)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
Justice Department Requires Divestiture In Order For Anheuser-Busch To Acquire Craft Brew Alliance* Divestiture Will Preserve Competition in the Beer Industry in the State of Hawaii The Department of Justice announced today that it is requiring Anheuser-Busch InBev SA/NV (ABI), its (...)

The US FTC announces a revamped merger retrospective program
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC’s Bureau of Economics to Expand Merger Retrospective Program* The Federal Trade Commission’s Bureau of Economics has announced a revamped Merger Retrospective Program, which will expand and formalize the Bureau’s retrospective research efforts that have already produced studies analyzing (...)

The US FTC approves final order requiring animal health product suppliers to divest assets in three product markets as a condition of acquisition (Elanco Animal Health / Bayer Animal Health)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Final Order Requiring Animal Health Product Suppliers Elanco Animal Health, Inc. and Bayer Animal Health GmbH to Divest Assets in Three Product Markets as a Condition of Acquisition* Following a public comment period, the Federal Trade Commission has approved a final order (...)

The US FTC approves a final order imposing conditions on an acquisition between two big pharmaceutical companies (AbbVie / Allergan)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Final Order Imposing Conditions on AbbVie Inc.’s Acquisition of Allergan plc* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that AbbVie’s $63 billion acquisition of Allergan would violate federal antitrust law. (...)

The US DoJ issues a revised policy guide to merger remedies
Cleary Gottlieb Steen & Hamilton (Washington)
United States 9 contributions 3254 visits
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Cleary Gottlieb Steen & Hamilton (Washington)
United States 12 contributions 23415 visits
On September 3, 2020, the Antitrust Division of the DOJ issued a revised Policy Guide to Merger Remedies, following shortly after it announced a reorganization of its civil enforcement to create an Office of Decree Enforcement and Compliance. The Policy Guide to Merger Remedies largely (...)

The US DoJ releases merger remedies manual
Sheppard Mullin (Los Angeles)
États-Unis 12 contributions 2094 visites
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Sheppard Mullin (Washington)
United States 12 contributions 1801 visits
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Sheppard Mullin (Washington)
United States 12 contributions 1962 visits
DOJ Antitrust Division Releases New Merger Remedies Manual* On September 3, 2020, the DOJ’s Antitrust Division released its Merger Remedies Manual. The manual provides important guidance on what DOJ considers to be adequate solutions to addressing competitive issues in M&A deals (...)

The US DoJ issues its merger remedies manual which provides that the framework the DoJ will utilise in implementing relief in mergers reviewed by its attorneys and economists
Skadden, Arps, Slate, Meagher & Flom (Washington)
United States 30 contributions 9464 visits
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Skadden, Arps, Slate, Meagher & Flom (New York)
United States 9 contributions 2365 visits
On September 3, 2020, the Department of Justice’s Antitrust Division (the DOJ) issued its new Merger Remedies Manual (the Manual), which provides the framework the DOJ will utilize going forward to implement relief in mergers reviewed by its attorneys and economists. The DOJ has updated its (...)

The US DoJ issues modernized merger remedies manual
US Department of Justice (Washington)
United States 176 contributions 74642 visits
Justice Department Issues Modernized Merger Remedies Manual* Merger Remedies Manual Reaffirms Antitrust Division’s Commitment to Effective Structural Relief and Reflects Renewed Focus on Enforcing Consent Decree Obligations The Department of Justice issued today the Merger Remedies Manual, (...)

The US DoJ releases merger remedies manual
Skadden, Arps, Slate, Meagher & Flom (New York)
United States 21 contributions 8480 visits
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Skadden, Arps, Slate, Meagher & Flom (New York)
United States 21 contributions 5604 visits
On Sept. 3, the Antitrust Division of the Department of Justice (DOJ) released the Merger Remedies Manual (the manual), which provides guidance on how the agency currently intends to approach the structure and implementation of remedies in merger cases. See Antitrust Div., U. S. Department of (...)

The US FTC approves final order imposing structural remedies on 2 casino companies’ merger (Eldorado Resorts / Caesars Entertainment)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Final Order Imposing Conditions on Casino Operators Eldorado Resorts, Inc. and Caesars Entertainment Corporation* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Eldorado’s $17.3 billion agreement to acquire (...)

The US FTC requires divestitures as a condition of a merger in the markets for gasoline and diesel fuel (Arko Holdings / Empire Petroleum Partners)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Requires Divestitures as Condition of Arko Holdings Ltd.’s Acquisition of Empire Petroleum Partners, LLC* Arko Holdings Ltd. and Empire Petroleum Partners, LLC have agreed to divest retail fuel assets in local gasoline and diesel fuel markets across four states to settle Federal Trade (...)

The EU Commission approves an acquisition of a payment solution provider’s account-to-account payment business by a global payment card company, subject to conditions (Nets / Mastercard)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission approves acquisition of Nets’ account-to-account payment business by Mastercard, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Nets’ account-to-account payment business by Mastercard. The decision (...)

The US FTC approves final order imposing conditions on the transfer of ownership between energy companies (Tri Star Energy / Hollingsworth Oil Company / C & H Properties / Ronald L. Hollingsworth)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Final Order Imposing Conditions on Tri Star Energy, LLC’s Acquisition of Certain Assets of Hollingsworth Oil Company, Inc., C & H Properties, and Ronald L. Hollingsworth* Following a public comment period, the Federal Trade Commission has approved a final order settling (...)

The US DoJ reaches a settlement with new stricter conditions and fines the company after finding violations of the original conditions (CenturyLink / Level 3 Communications)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
Justice Department Brings Enforcement Action Against Centurylink* In Significant Action, CenturyLink Agrees to Extend Term, Appoint Independent Monitor, and Reimburse Taxpayers for the Costs and Fees of the Violations The Department of Justice announced today that CenturyLink, Inc. has (...)

The EU Commission investigates into the merger between a big tech company and a health and fitness retail company (Fitbit / Google)
Zepos & Yannopoulos (Athens)
Greece 35 contributions 3601 visits
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Linklaters (London)
United Kingdom 34 contributions 3099 visits
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Zepos & Yannopoulos (Athens)
Greece 29 contributions 2426 visits
On 15 June 2020, Google notified the Commission its intention to acquire Fitbit. A month later, it submitted commitments to address the Commission’s concerns that the proposed transaction would further entrench Google’s market position in the online advertising markets by increasing the (...)

The EU Commission conditionally clears a merger between global companies active in the rail transportation market (Alstom / Bombardier)
Van Bael & Bellis (Brussels)
Belgium 38 contributions 9518 visits
On 31 July 2020, the European Commission (the “Commission”) announced its conditional clearance of Alstom’s acquisition of Bombardier Transportation. Both the target, a German subsidiary of Canadian Bombardier Inc., and the French acquirer, Alstom, are global companies active in rail (...)

The EU Commission clears a merger subject to conditions in the global rail transportation market (Alstom / Bombardier)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears Alstom’s acquisition of Bombardier, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the acquisition of Bombardier Transportation by Alstom. The approval is conditional on full compliance with a commitments package (...)

The US FTC requires global suppliers of animal health products to divest assets in 3 product markets as a condition for merger clearance (Elanco / Bayer)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Requires Global Suppliers of Animal Health Products Elanco Animal Health, Inc. and Bayer Animal Health GmbH to Divest Assets in Three Product Markets, as a Condition of Merger* The Federal Trade Commission will require global suppliers of animal products, Elanco Animal Health, Inc. and (...)

The EU Commission conditionally clears a merger of Polish integrated oil & gas companies active in many Central & Eastern European and Baltic countries, subject to conditions (Lotos / PKN Orlen)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears Lotos’ acquisition by PKN Orlen, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the acquisition of Grupa Lotos by PKN Orlen. The approval is conditional on full compliance with a commitments package offered by PKN (...)

The US FTC fines retail fuel station operator and its affiliate for failing to divest 10 retail gas stations as required by earlier order (Alimentation Couche-Tard / CrossAmerica Partners)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
Alimentation Couche-Tard Inc. and CrossAmerica Partners LP Agree to Pay $3.5 Million Civil Penalty to Settle FTC Allegations that they Violated 2018 Order* Retail fuel station and convenience store operator Alimentation Couche-Tard Inc. (“ACT”) and its former affiliate, CrossAmerica Partners (...)

The US FTC issues a $3.5M fine on a retail fuel station operator and its affiliate for violation of a settlement agreement requiring the divesture of 10 retail gas stations (Alimentation Couche-Tard / CrossAmerica Partners)
McDermott Will & Emery (Washington)
United States 36 contributions 5936 visits
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McDermott Will & Emery (Washington)
United States 13 contributions 2778 visits
The US Federal Trade Commission (FTC) recently extracted a $3.5 million civil penalty from two companies involved in a gas station merger. The FTC asserts the companies violated their settlement agreement with the government, which required the divestment of 10 gas stations within 120 days (...)

The US DoJ congratulates the merger of telecom operator on closing the agreed divestiture with a satellite TV company (T-Mobile / Dish / Boost)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
Justice Department Congratulates T-Mobile And Dish For Closing The Boost Divestiture* T-Mobile US Inc. (T-Mobile) and Dish Network Corporation (Dish) announced today that they closed T-Mobile’s divestiture of Boost Network (Boost) to Dish. Boost was legacy Sprint Corporation’s prepaid (...)

The US FTC requests two casino operators to divest assets in two local markets as a condition of their merger (Eldorado Resorts / Caesars Entertainment)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Requires Casino Operators Eldorado Resorts, Inc. and Caesars Entertainment Corporation to Divest Assets in Two Local Markets as a Condition of Merger* The Federal Trade Commission will require casino operator Eldorado Resorts, Inc. to divest casino-related assets in the South Lake Tahoe (...)

The US FTC clears transfer of ownership over certain assets between energy companies subject to divestments (Tri Star Energy / Hollingsworth Oil Company / C & H Properties / Ronald L. Hollingsworth)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Requires Divestitures as Condition of Tri Star Energy, LLC’s Acquisition of Certain Assets of Hollingsworth Oil Company, Inc., C & H Properties, and Ronald L. Hollingsworth* Tri Star Energy, LLC and Hollingsworth Oil Company, Inc., C & H Properties, and Ronald L. Hollingsworth (...)

The US FTC approves final order settling charges of anticompetitive agreement entered into by a law enforcement equipment manufacturer with the seller of body-worn camera systems (Safariland / Axon / VieVu)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
FTC Approves Final Order Settling Charges that VieVu’s Former Parent Company Safariland Entered into Anticompetitive Agreements with Body-Worn Camera Systems Seller Axon* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that (...)

The EU Commission conditionally clears an acquisition between two global developers and suppliers of veterinary pharmaceuticals (Elanco Animal Health / Bayer Animal Health)
Van Bael & Bellis (Brussels)
Belgium 38 contributions 9518 visits
On 8 June 2020, the Commission announced its conditional clearance of Elanco’s purchase of Bayer’s animal health division (“BAH”). Both Elanco and BAH are global developers and suppliers of veterinary pharmaceuticals, and the transaction will establish the largest animal health company (...)

The EU Commission approves, subject to conditions, an acquisition of a global pharma company’s animal health division by an animal health company subject to divestments (Elanco Animal Health / Bayer Animal Health)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 US FTC finishes public consultation period and clears a 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)
United States 171 contributions 40278 visits
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 (...)

The US FTC clears merger of medical device companies subject to the divestment of one’s myoelectric elbows business to competitors (College Park Industries / Össur Hf)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
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 (...)

The EU Commission waives commitments regarding the merger between two pharmaceutical companies (Takeda / Shire)
Zepos & Yannopoulos (Athens)
Greece 35 contributions 3601 visits
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Linklaters (London)
United Kingdom 34 contributions 3099 visits
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Zepos & Yannopoulos (Athens)
Greece 29 contributions 2426 visits
On 28 May 2020, the European Commission waived in their entirety the structural remedies that had been submitted by Takeda in 2018 to have its acquisition of Shire greenlit. The Commission’s market investigation with regard to Takeda’s waiver request revealed a number of permanent, significant (...)

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)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 DoJ files proposed final judgment with US District Court for the Northern District of Ohio requiring divestiture following historic arbitration win (Novelis / Aleris)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
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 US FTC clears merger of two Big Pharma companies after they agreed to divest 3 drugs businesses (AbbVie / Allergan)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
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 (...)

The US DoJ blocks the acquisition of a major dairy farmer’s fluid milk processing plants but approves a third dairy farmer buying the plants (Dairy Farmers of America / Dean Foods / Prairie Farms)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
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 EU Commission clears merger of generic Big Pharma company with a competitor’s generic division, subject to the divestment of business for certain generic medicines (Mylan / Upjohn)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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)
Belgium 227 contributions 71788 visits
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 (...)

The US FTC approves final order settling charges that merger of polyurethane foam producers was anti-competitive (FXI Holdings / Innocor)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
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 US FTC announces that a manufacturer of law enforcement equipment has agreed to settle charges filed against it for entering into anticompetitive agreements with the seller of body-worn camera systems (Safariland / Axon / VieVu)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
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 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)
United States 171 contributions 40278 visits
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 (...)

The US FTC imposes remedies on a proposed merger between two prosthetic limb manufacturers including the divestment of the myoelectric elbow business (College Park Industries / Össur Hf)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
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 (...)

The EU Commission approves an acquisition subject to conditions in the airline’s services market (Lufthansa / Gategroup)
De Berti Jacchia Franchini Forlani (Brussels)
Belgium 1 contribution 122 visits
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 (...)

The EU Commission conditionally clears an acquisition of a Swiss company providing catering, retail and other airline services (Lufthansa / Gategroup)
Van Bael & Bellis (Brussels)
Belgium 227 contributions 71788 visits
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 (...)

The US District Court of Columbia enters the final judgment regarding the merger of the third and fourth-largest telecommunication providers and allows for proposed structural remedies to proceed (T-Mobile / Sprint)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
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 that highlights key considerations for antitrust reviews of aerospace and defence industry transactions (United Technologies / Raytheon)
McDermott Will & Emery (Washington)
United States 32 contributions 6554 visits
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 a merger of two national defence contractors to address vertical and horizontal antitrust concerns (United Technologies Corporation / Raytheon)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
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 several divestments in highly concentrated product markets for ten products that companies use to manufacture biopharmaceutical drugs (Danaher / GE Biopharma)
US Federal Trade Commission (FTC) (Washington)
United States 171 contributions 40278 visits
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 US DoJ wins historic arbitration of a merger dispute forcing the merging parties to fully divest their entire aluminum auto body sheet operations in North America (Novelis / Aleris)
US Department of Justice (Washington)
United States 176 contributions 74642 visits
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 (...)

The US DoJ brings for the first time a merger enforcement action using arbitration and forces the divestiture of aluminium production in North America (Novelis / Aleris)
Skadden, Arps, Slate, Meagher & Flom (New York)
United States 21 contributions 5604 visits
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Skadden, Arps, Slate, Meagher & Flom (New York)
United States 21 contributions 8480 visits
DOJ Merger Enforcement Arbitration: A Sign of Things To Come?* On March 2020, the Antitrust Division Of the Department Of Justice successfully secured the divestiture by Novelis of Aleris Corporation’s North American aluminum production facilities in U.S. v. Novelis et al. with an unorthodox (...)

The EU Commission clears proposed acquisition of joint control in the telecommunications sector (INWIT/ TIM / Vodafone)
Ashurst (Brussels)
Belgium 45 contributions 45886 visits
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Ashurst (London)
United Kingdom 13 contributions 2403 visits
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Ashurst (London)
United Kingdom 4 contributions 628 visits
On 6 March 2020, the European Commission ("Commission") cleared the proposed acquisition of joint control over INWIT by Telecom Italia ("TIM") and Vodafone in case M.9674, combining the parties’ Italian telecommunications tower holdings as part of their 5G roll-out plan. WHAT YOU NEED TO (...)

The EU Commission clears a merger, subject to remedies, in the market of manufacturing and supplying doors (Assa Abloy / Agta Record)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission approves Assa Abloy’s acquisition of Agta Record, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Agta Record by Assa Abloy. The approval is conditional on the implementation of a remedy package by (...)

The US District Court for the Southern District of New York clears a merger between the top third and fourth wireless communications provider (State AGs / T-Mobile / Sprint)
US Federal Trade Commission (FTC) (New York)
United States 1 contribution 556 visits
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Weil, Gotshal & Manges (Washington)
United States 2 contributions 1024 visits
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Weil, Gotshal & Manges (Washington)
United States 3 contributions 1290 visits
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 EU Commission clears a merger subject to remedies in the pharmaceutical sector (AbbVie / Allergan)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

The EU Commission clears a merger subject to remedies in the biotechnologies market (Danaher / GE Healthcare Life Sciences’ Biopharma Business)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

The EU Commission clears a merger, subject to remedies, in the markets for batteries and portable battery chargers (Varta / Energizer)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

The EU Commission clears subject to behavioural commitments a merger in the telecommunications sector (Telia / Bonnier Broadcasting)
Van Bael & Bellis (Brussels)
Belgium 227 contributions 71788 visits
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 (...)

The EU Commission clears a merger subject to remedies in the market of telecommunications and TV broadcasting (Telia / Bonnier Broadcasting)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 US FTC finds a consummated merger between two sellers of prosthetic knees anticompetitive and orders assets to be divested (Otto Bock / Freedom)
Davis Polk (New York)
United States 2 contributions 302 visits
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Davis Polk (New York)
United States 1 contribution 53 visits
This article has been nominated for the 2020 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards. On November 6, 2019, the Federal Trade Commission unanimously found that the consummated merger of two sellers of prosthetic knees violated United States (...)

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)
United States 4 contributions 1761 visits
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Cadwalader Wickersham & Taft (Charlotte)
United States 2 contributions 807 visits
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 (...)

The EU Commission clears a merger, subject to remedies, in the production of aluminium automotive body sheets market (Novelis / Aleris)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 EU Commission conditionally clears a merger in the energy sector subject to remedies following a Phase II investigation (E.ON / Innogy)
Van Bael & Bellis (Brussels)
Belgium 227 contributions 71788 visits
On 17 September 2019, the European Commission (“Commission”) conditionally cleared E.ON’s acquisition of Innogy from its parent company, RWE, following a second phase investigation. E.ON and Innogy are German energy companies active across the full energy chain, from generation to (...)

The EU Commission clears a merger subject to remedies in the market for the supply of electricity (E.ON / Innogy)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 US DoJ for the first time elects binding arbitration to resolve a merger challenge (Novelis / Aleris Corporation)
Gibson Dunn (Washington)
United States 1 contribution 2991 visits
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Milbank (Washington)
United States 7 contributions 5750 visits
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Milbank (Washington)
United States 1 contribution 2991 visits
This article has been nominated for the 2020 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards. On September 4, 2019, the U.S. Department of Justice’s Antitrust Division filed a complaint in the Northern District of Ohio challenging Novelis Inc.’s (...)

The EU Commission conditionally clears a merger in the cable network market in four countries (Vodafone / Liberty Global)
Van Bael & Bellis (Brussels)
Belgium 227 contributions 71788 visits
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 (...)

The EU Commission clears a merger subject to remedies in the telecommunication market (Vodafone / Liberty Global)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

The EU Commission clears the acquisition, subject to remedies, of a cable business company (Vodafone / Liberty Global)
Bird & Bird (Dusseldorf)
Germany 21 contributions 2523 visits
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 (...)

The EU Commission clears a merger subject to remedies in the pharmaceutical market (GlaxoSmithKline / Pfizer)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

The EU Commission clears a merger subject to remedies in the air transport of passengers market (Flybe / Connect Airways)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 EU Commission clears a merger subject to remedies in the markets of night vision devices and handheld video data links (L3 Technologies / Harris)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 US FTC and the Colorado Attorney General file a complaint against a merger between an insurance company and a health services business for resulting in both horizontal and vertical competitive effects (UnitedHealth / DaVita)
U.S. House of Representatives Committee on the Judiciary
2 contributions 114 visits
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Axinn Veltrop & Harkrider (Washington)
United States 2 contributions 114 visits
This article has been nominated for the 2020 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards. On June 19, UnitedHealth Group Incorporated (UnitedHealth Group) and DaVita, Inc. (DaVita) agreed to two separate consent agreements to resolve antitrust (...)

The EU Commission approves a company as a suitable purchaser of several steel plants (Liberty House Group / ArcelorMittal)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 clears a merger, subject to remedies, in the market of speed refrigeration compressors (Nidec / Embraco)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

The EU Commission conditionally approves a merger to structural remedies in the refrigeration compressor business (Nidec / Embraco)
Van Bael & Bellis (Brussels)
Belgium 227 contributions 71788 visits
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 distribution of agricultural machinery (Agro / Konekesko Baltic)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 EU Commission clears a merger subject to remedies in the markets of insurance broking services (JLT / MMC)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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)
Belgium 227 contributions 71788 visits
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 EU Commission clears a merger subject to remedies in the aerospace equipment industry (Spirit / Asco)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission approves acquisition of Asco by Spirit, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the acquisition of Asco by Spirit. Both companies are active in the aerospace equipment industry worldwide. The approval is conditional on (...)

The US District Court for the Southern District of New York receives a complaint from a manufacturer of refrigeration compressors that a would-be acquirer failed to discharge its obligations under a "hell or high water" clause (Whirlpool / Nidec)
Orrick, Herrington & Sutcliffe (Washington)
United States 10 contributions 9790 visits
The phrase “come hell or high water” is said to have originated in the late 1800s in reference to the conditions cattle herders encountered when they trekked from Texas to the Midwest across large prairies in the summer heat and through deep rivers. In the merger context, a hell or high water (...)

The US Court of Appeals for the DC Circuit upholds the District Court’s decision and rejects the DoJ’s efforts to block a merger between two big media companies (AT&T / Time Warner)
Hogan Lovells (Washington)
United States 17 contributions 6994 visits
On 26 February 2019 AT&T won its appeal at the U.S. Court of Appeals for the District of Columbia Circuit when the district court’s decision denying the government’s attempt to block AT&T from acquiring Time Warner Inc. was upheld. This ends a lengthy antitrust saga that began with (...)

The US Court of Appeals for the DC Circuit holds that the DoJ failed to show that the District Court erred in denying the government’s request for a permanent injunction is blocking a merger (AT&T / Time Warner)
Paul Weiss (New York)
United States 1 contribution 69 visits
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Paul Weiss (Washington)
United States 3 contributions 188 visits
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US Department of Justice (Washington)
United States 3 contributions 1039 visits
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This article has been nominated for the 2020 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards. On February 26, 2019, the United States Court of Appeals for the District of Columbia Circuit held that the U.S. Department of Justice (DOJ) failed to show (...)

The EU Commission sends a Statement of Objections to a telecommunications company over an alleged breach of merger clearance commitments (Telefónica Deutschland)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

The EU Commission sends a Statement of Objections to a company for alleged infringement of merger commitments (Telefónica Deutschland)
European Commission - DG COMP (Brussels)
Belgique 45 contributions 20615 visites
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Gómez-Acebo & Pombo (Brussels)
Belgique 51 contributions 28540 visites
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Basic-Fit (Hoofddorp)
Pays-Bas 45 contributions 20597 visites
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 (...)

The EU Commission issues first-ever Statement of Objections for breaching a merger commitment in the telecommunication sector (Telefónica Deutschland)
Van Bael & Bellis (Brussels)
Belgium 227 contributions 71788 visits
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 clears a merger subject to remedies in the aquaculture sector (Amerra and Mubadala / Andromeda / Nireus and Selonda)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

The EU Commission lifts commitments adopted in a merger case based on exceptional circumstances review (Air France / KLM)
Van Bael & Bellis (Brussels)
Belgium 227 contributions 71788 visits
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 food products sectors (Amcor / Bemis)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 EU Commission prohibits a merger in the railway sector and reaffirms that industrial policy objectives have no role to play when it comes to applying the EU merger control rules (Siemens / Alstom)
Arnold & Porter Kaye Scholer (Brussels)
Belgium 64 contributions 98651 visits
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McDermott Will & Emery (Paris)
France 134 contributions 65947 visits
BIGGER IS BETTER . . . OR MAYBE NOT: THE SIEMENS/ALSTOM RAILWAY ME* The European Commission recently reaffirmed that industrial policy objectives have no role to play when it comes to applying the EU merger control rules. Despite unusually intense industrial and political pressure to get the (...)

The EU Commission prohibits a merger in the market for railway signalling and very high-speed trains (Siemens / Alstom)
Van Bael & Bellis (Brussels)
Belgium 227 contributions 71788 visits
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 (...)

The EU Commission prohibits a merger in the rolled copper products market (Wieland / Aurubis / Schwermetall)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

The EU Commission prohibits a merger in the railway signalling systems market and the very high-speed trains sector (Siemens / Alstom)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 EU Commission prohibits a merger between rolled copper products producers (Wieland / Aurubis / Schwermetall)
Van Bael & Bellis (Brussels)
Belgium 227 contributions 71788 visits
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 US FTC approves a merger in the office products market subject to behavioral remedies (Staples / Essendant)
US Department of Justice (Washington)
United States 2 contributions 585 visits
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 (...)

The US FTC conditionally approves a merger in the office supply market subject to behavioral remedies (Staples / Essendant)
McDermott Will & Emery (Washington)
United States 32 contributions 6554 visits
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 EU Commission clears a merger subject to remedies in the nylon industry (BASF / Solvay)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission approves BASF’s acquisition of Solvay’s nylon business, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Solvay’s nylon business by BASF. The approval is conditional on the divestiture of a remedy (...)

The EU Commission clears a merger subject to remedies in the data security solutions market (Gemalto / Thales)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 market of industrial lubricants (Quaker / Houghton)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission approves acquisition of Houghton by Quaker, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the acquisition of Houghton by Quaker, both producers of industrial lubricants. The decision is conditional on the divestment of (...)

The EU Commission clears a merger subject to remedies in the market of batteries (Spectrum Brand / Energizer)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 ceilings manufacturing market (Armstrong / Knauf)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

The EU Commission clears a merger subject to remedies in the market for the manufacture and supply of wood pulp (Fibria / Suzano)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

The EU Commission clears a merger subject to remedies in the markets for corrugated case materials, sheets, and cases (Europac / DS Smith)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

The EU Commission approves, subject to conditions, the creation of 6 joint ventures by two car manufacturers to cooperate in providing car sharing services (Daimler / BMW)
Hogan Lovells (Paris)
France 40 contributions 20699 visits
On November 7, 2018, the Commission approved a concentration whereby the two German car manufacturers Daimler and BMW planned to pool their mobility service businesses, including in particular their car sharing services. The two German car makers’ project consists in the creation of six (...)

The EU Commission conditionally clears the creation of six joint ventures for mobility services (Daimler / BMW)
Van Bael & Bellis (Brussels)
Belgium 227 contributions 71788 visits
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 (...)

The EU Commission clears the creation of six joint ventures in the automobile sector, subject to remedies (Daimler / BMW)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 theaters and distribution of content for home entertainment and licensing of films and other TV content (Fox / Disney)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 EU Commission clears a merger subject to remedies in the market of dietetic pet food sold by veterinarians (Mars / AniCura)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 US DoJ conditionally approves a merger in the healthcare industry, subject to structural remedies (CVS / Aetna)
International Center for Law & Economics (Portland)
United States 16 contributions 7593 visits
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 (...)

The US DoJ clears a merger between two vertically linked businesses due to sufficient competition in their respective markets subject to the divestment of their horizontally overlapping business in the healthcare sector (CVS / Aetna)
Secretariat Economists (San Francisco)
United States 2 contributions 598 visits
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 a defendant in private antitrust litigation to divest a manufacturing plant following a competitor’s merger challenge (Steves & Sons / Jeld-Wen / CMI)
Jones Day (Houston)
United States 35 contributions 15668 visits
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Jones Day (Washington)
United States 7 contributions 2108 visits
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Sheppard Mullin (Washington)
United States 4 contributions 907 visits
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 (...)

The US District Court for the Eastern District of Virginia requires divestiture in a long-consummated merger (Steves & Sons / Jeld-Wen / CMI)
Jones Day (Houston)
United States 35 contributions 15668 visits
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Jones Day (Washington)
États-Unis 20 contributions 3905 visites
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Sheppard Mullin (Washington)
United States 4 contributions 907 visits
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This article has been nominated for the 2020 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards. Congratulations! Your deal navigated through antitrust review, you closed the transaction, and you are making your way through the three-year integration plan. (...)

The US District Court of Delaware spotlights the importance of antitrust risk-shifting provisions in merger agreements in the pharmaceutical sector (Akorn / Fresenius)
Gibson Dunn (Washington)
United States 8 contributions 5373 visits
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Baker Botts (Brussels)
Belgium 29 contributions 48976 visits
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Baker Botts (Washington)
United States 13 contributions 9190 visits
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 (...)

The EU Commission clears a merger subject to remedies in the fresh produce distribution market (Total Produce / Dole)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 EU Commission clears a merger, subject to remedies, in the titanium dioxide pigment market (Tronox / Cristal)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 EU Commission clears a merger subject to remedies in the manufacturing of pool equipment products market (Zodiac / Fluidra)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

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)
United States 4 contributions 1106 visits
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Fried Frank Harris Shriver & Jacobson (New York)
United States 3 contributions 1035 visits
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Fried Frank Harris Shriver & Jacobson (Washington)
United States 1 contribution 276 visits
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)
United States 23 contributions 11331 visits
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Jones Day (Washington)
United States 20 contributions 6395 visits
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Jones Day (Houston)
United States 35 contributions 15668 visits
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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 US FTC conditionally approves a vertical merger in the defense industry subject to behavioral remedies (Northrop Grumman / Orbital ATK)
McDermott Will & Emery (Washington)
United States 32 contributions 6554 visits
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 conditionally clears a merger for the second time in the market for the wholesale of premium Pay TV film channels, following its annulment by the General Court (Liberty Global / Ziggo)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 finds that the Commission must re-assess companies request to waive their pricing commitments (Lufthansa)
European Commission - DG COMP (Brussels)
Belgique 45 contributions 20615 visites
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Gómez-Acebo & Pombo (Brussels)
Belgique 51 contributions 28540 visites
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Basic-Fit (Hoofddorp)
Pays-Bas 45 contributions 20597 visites
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)
Belgium 43 contributions 7549 visits
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McDermott Will & Emery (Paris)
France 134 contributions 65947 visits
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Norton Rose Fulbright (Brussels)
Belgium 37 contributions 7037 visits
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 EU Commission clears a merger subject to remedies on the European steel market (ArcelorMittal / Ilva)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
MERGERS: COMMISSION CLEARS ARCELORMITTAL’S ACQUISITION OF ILVA, SUBJECT TO CONDITIONS* The European Commission has approved under the EU Merger Regulation the acquisition of Ilva by ArcelorMittal. The decision is conditional on the divestiture of an extensive remedy package to preserve (...)

The EU Commission clears a merger subject to remedies in the aerospace sector (UTC / Rockwell Collins)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
MERGERS: COMMISSION APPROVES ACQUISITION OF ROCKWELL COLLINS BY UTC, SUBJECT TO CONDITIONS* The European Commission has approved, under the EU Merger Regulation, the acquisition of Rockwell Collins by United Technologies Corporation (UTC) in the aerospace sector. The decision is conditional (...)

The EU Commission clears a merger subject to remedies on the seeds, pesticides, and digital agriculture market (Bayer’s Crop Science / BASF)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 EU Commission clears a merger subject to remedies in the steel wheels manufacturing market (Mefro Wheels / Accuride)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

The US FTC conditionally clears a merger subject to divestitures in the pharmaceutical market (Amneal / Impax)
Weil, Gotshal & Manges (Washington)
United States 3 contributions 1290 visits
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Weil, Gotshal & Manges (Washington)
United States 4 contributions 1691 visits
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 (...)

The EU Commission sends a statement of objection to a multinational company operating in the telecommunications sector alleging a breach of the merger regulation (Altice / PT Portugal)
Portolano Cavallo (Milan)
Italy 63 contributions 9822 visits
On May 18, 2017, the European Commission (the Commission) sent a “statement of objections” to Altice – a Netherlands-based multinational company operating in the telecommunications (TLC) sector – alleging that it breached the EU Merger Regulation (Regulation N. 139/04, or EUMR) by implementing (...)

The EU Commission fines a multinational cable and telecommunications company €124.5M for implementing its acquisition before obtaining approval (Altice / PT Portugal)
Freshfields Bruckhaus Deringer (London)
United Kingdom 8 contributions 2643 visits
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Freshfields Bruckhaus Deringer (Brussels)
Belgium 6 contributions 864 visits
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Freshfields Bruckhaus Deringer (Brussels)
Belgium 5 contributions 1118 visits
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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 (...)

The EU Commission clears a merger, subject to remedies, in the seeds, pesticides, and digital agriculture sector (Bayer / Monsanto)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

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)
United Kingdom 23 contributions 14030 visits
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UK Competition & Markets Authority - CMA (London)
Belgium 12 contributions 13060 visits
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Shearman & Sterling (London)
United Kingdom 30 contributions 14038 visits
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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 (...)

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)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 EU Commission conditionally approves a proposed merger in the market for providing pay-TV channels to TV distributors (Discovery / Scripps)
Van Bael & Bellis (Brussels)
Belgium 227 contributions 71788 visits
On 6 February 2018, the European Commission conditionally approved the proposed acquisition of Scripps by Discovery. Both Discovery and Scripps are active primarily as providers of pay-TV channels to TV distributors in Europe. The Commission was concerned that the deal risked increasing (...)

The EU Commission clears a merger subject to remedies in the market of semiconductors (Qualcomm / NXP)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission approves Qualcomm’s acquisition of NXP, subject to conditions* The European Commission has approved under the EU Merger Regulation the proposed acquisition of NXP, based in the Netherlands, by Qualcomm of the US. The approval is conditional on full compliance with (...)

The EU Commission clears the merger of semiconductor companies subject to interoperability and quasi-structural remedies designed to address conglomerate concerns (Qualcomm / NXP)
Skadden, Arps, Slate, Meagher & Flom (Brussels)
Belgium 78 contributions 58616 visits
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Skadden, Arps, Slate, Meagher & Flom (Washington)
United States 4 contributions 1920 visits
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NXP Semiconductors (Hamburg)
Germany 1 contribution 114 visits
This article has been nominated for the 2020 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards. On 26 July 2018, US company Qualcomm Inc announced the abandonment of its proposed acquisition, through its subsidiary Qualcomm River Holding BV (Qualcomm), of (...)

The EU Commission conditionally clears a merger in the semiconductor industry (Qualcomm / NXP)
IPR University Center (Helsinki)
Finland 29 contributions 5429 visits
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European Commission
Belgium 1 contribution 109 visits
Qualcomm’s Acquisition of NXP Receives Antitrust Clearance by the European Commission, Subject to Commitments* Introduction On 28 April 2017, the European Commission (“Commission”) received, pursuant to the EU Merger Regulation, notification of a proposed concentration involving the (...)

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)
United States 36 contributions 5936 visits
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Milbank (London)
United Kingdom 21 contributions 12200 visits
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McDermott Will & Emery (Dusseldorf)
Germany 16 contributions 6554 visits
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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 (...)

The EU Commission clears a merger subject to remedies in the markets for passenger air travel (Lufthansa / Air Berlin)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 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 consent decree (Red Venture / Bankrate)
Georgetown University Law Center (Washington)
United States 4 contributions 1434 visits
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Shearman & Sterling (Washington)
United States 23 contributions 12797 visits
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Shearman & Sterling (Washington)
United States 11 contributions 3636 visits
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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 EU Commission clears a merger subject to remedies on the market of medical devices (Bard / BD)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission approves acquisition of Bard by BD, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the acquisition of Bard by BD. Both companies supply medical devices. The decision is conditional on the divestment of BD’s core needle biopsy (...)

The EU Commission clears a merger subject to remedies on the market of automotive equipment (FTE / Valeo)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears acquisition of FTE by Valeo, subject to conditions* The European Commission has approved under the EU Merger Regulation the proposed acquisition of FTE by Valeo, both automotive equipment suppliers. The decision is conditional on the divestment of Valeo’s passive (...)

The US FTC conditionally clears the transaction between two neurosurgical companies (Integra / Johnson & Johnson)
UK Competition & Markets Authority - CMA (London)
United Kingdom 20 contributions 7782 visits
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McDermott Will & Emery (Washington)
United States 36 contributions 5936 visits
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 EU Commission clears a merger, subject to remedies, in the vending services market (Pelican Rouge / Selecta)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 EU Commission clears a merger, subject to remedies, on the chemicals market (FMC / Dupont)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

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)
Belgium 227 contributions 71788 visits
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 (...)

The EU Commission clears a merger subject to remedies on the refractory products market (Magnesita Refratários / RHI)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission approves acquisition of Magnesita Refratários by RHI, subject to conditions* The European Commission has approved under the EU Merger Regulation the acquisition of Magnesita Refratários by RHI. The decision is conditional on the divestment of the two companies’ (...)

The EU Commission clears a merger subject to remedies in the chemicals market (Huber Silica / Evonik)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
MERGERS: COMMISSION APPROVES ACQUISITION OF HUBER SILICA BY EVONIK, SUBJECT TO CONDITIONS* The European Commission has approved under the EU Merger Regulation Evonik’s acquisition of Huber Silica. The decision is conditional on the divestment of some of both companies’ activities related to (...)

The EU Commission clears a merger subject to remedies on the markets for debt collection and debt purchasing (Intrum Justitia / Nordic Capital)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 EU Commission clears the acquisition of a pharmaceutical company by a global conglomerate subject to a commitment that clinical development of innovative insomnia drugs will not be adversely affected by the merger (Johnson & Johnson / Actelion)
European Commission - DG COMP (Brussels)
Belgium 5 contributions 2569 visits
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 (...)

The EU Commission clears a merger subject to remedies in the pharmaceutical market (Johnson & Johnson / Actelion)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
MERGERS: COMMISSION APPROVES ACQUISITION OF ACTELION BY JOHNSON & JOHNSON, SUBJECT TO CONDITIONS* The European Commission has approved under the EU Merger Regulation the proposed acquisition of Actelion Pharmaceuticals by Johnson & Johnson. The decision is subject to conditions (...)

The EU Commission clears a merger subject to remedies in the telecommunication market (Telecom Italia / Vivendi)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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. (...)

The EU Commission conditionally approves the acquisition of de facto sole control over an Italian incumbent telecommunications company, subject to remedies (Telecom Italia / Vivendi)
European Commission - DG COMP (Brussels)
Belgium 1 contribution 365 visits
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European Commission - DG Internal Market and Services (Brussels)
Belgium 4 contributions 3329 visits
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European Commission - Secretariat General (Brussels)
Belgium 3 contributions 730 visits
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 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)
Belgium 116 contributions 71731 visits
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Herbert Smith Freehills (London)
United Kingdom 14 contributions 2963 visits
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Herbert Smith Freehills (Paris)
France 94 contributions 45529 visits
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 alleges a telecommunication company has breached EU rules by implementing its merger before notification or approval (Altice / PT Portugal)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

The EU Commission sends a statement of objections to a company to investigate whether a merger was implemented before the Commission’s clearance (Altice / PT Portugal)
Shearman & Sterling (London)
United Kingdom 30 contributions 14038 visits
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UK Competition & Markets Authority - CMA (London)
Belgium 12 contributions 13060 visits
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Shearman & Sterling (London)
United Kingdom 23 contributions 14030 visits
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 clears a merger, subject to remedies, in the chemicals market (Reichhold / Polynt)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
MERGERS: COMMISSION APPROVES MERGER BETWEEN CHEMICAL PRODUCERS REICHHOLD AND POLYNT, SUBJECT TO CONDITIONS* The European Commission has approved under the EU Merger Regulation the merger between chemical producers Reichhold (US) and Polynt (Italy). Both produce unsaturated polyester resins, (...)

The EU Commission clears a merger, subject to remedies, in the market of semiconductor devices (Brocade / Broadcom)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 US FTC reaches a consent agreement with merging parties to preserve innovation in the switch box industry (Emerson / Pentair)
McDermott Will & Emery (Washington)
United States 32 contributions 6554 visits
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)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 EU Commission clears a merger, subject to remedies, in the aircraft engine market (ITP / Rolls-Royce)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
MERGERS: COMMISSION CLEARS ACQUISITION OF SOLE CONTROL OF ITP BY ROLLS-ROYCE, SUBJECT TO CONDITIONS* The European Commission has cleared under the EU Merger Regulation the proposed acquisition of aircraft engine components maker ITP (Spain) by aircraft engine maker Rolls-Royce (UK). The (...)

The EU Commission clears a merger subject to remedies on the pesticides and plant growth regulators market (ChemChina / Syngenta)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

The EU Commission approves the acquisition of a leading global R&D crop protection company by a leading global generic crop protection company, subject to remedies (ChemChina / Syngenta)
Snap Inc. (Paris)
France 3 contributions 881 visits
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European Commission - DG COMP (Brussels)
Belgium 2 contributions 377 visits
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 the 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)
Danone (Paris)
France 2 contributions 444 visits
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 the two largest stock exchange operators in Europe, 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)
European Commission - DG COMP (Brussels)
Belgium 1 contribution 323 visits
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European Commission - DG COMP (Brussels)
Belgium 1 contribution 323 visits
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European Parliament (Brussels)
Belgium 1 contribution 323 visits
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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. (...)

The EU Commission clears a merger subject to remedies on the market of pesticides (Dow / DuPont)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
MERGERS: COMMISSION CLEARS MERGER BETWEEN DOW AND DUPONT, SUBJECT TO CONDITIONS* The European Commission has approved under the EU Merger Regulation the proposed merger between US-based chemical companies Dow and DuPont. The approval is conditional in particular on the divestiture of major (...)

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)
European Commission - DG COMP (Brussels)
Belgium 2 contributions 348 visits
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European Commission - DG COMP (Brussels)
Belgium 1 contribution 298 visits
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European Commission - DG TAXUD (Brussels)
Belgium 4 contributions 1424 visits
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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)
United States 1 contribution 260 visits
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White & Case (New York)
United States 3 contributions 1158 visits
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 the natural gas pipeline (Enbridge / Spectra)
McDermott Will & Emery (Washington)
United States 36 contributions 5936 visits
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 EU Commission clears a merger subject to remedies in the pharmaceutical sector (Abbott / Alere)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
MERGERS: COMMISSION APPROVES ACQUISITION OF ALERE BY ABBOTT LABORATORIES, SUBJECT TO CONDITIONS* The European Commission has approved under the EU Merger Regulation the acquisition of Alere by Abbott, both suppliers of clinical test systems. The decision is conditional on the divestment of (...)

The EU Commission clears an acquisition between two leading global manufacturers of threat detection equipment subject to remedies (Smiths / Morpho Detection)
European Commission - DG COMP (Brussels)
Belgium 2 contributions 380 visits
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University of Tokyo
Japon 15 contributions 7658 visites
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European Commission - DG COMP (Brussels)
Belgium 4 contributions 2499 visits
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 (...)

The EU Commission clears a merger subject to remedies in the threat detection equipment business market (Smiths / Morpho Detection)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 US FTC challenges a merger using a monopolization theory to allege that the merger would eliminate nascent competition in the therapeutic adrenocorticotropic hormones (Questcor Pharmaceuticals / Mallinckrodt)
McDermott Will & Emery (Washington)
United States 36 contributions 5936 visits
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 US FTC publishes its merger remedies report and signals tougher enforcement for designing and implementing remedies
Skadden, Arps, Slate, Meagher & Flom (Washington)
United States 22 contributions 6686 visits
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Jones Day (Houston)
United States 35 contributions 15668 visits
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Jones Day (Washington)
United States 18 contributions 7879 visits
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)
United States 2 contributions 406 visits
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Baker McKenzie (Washington)
United States 3 contributions 535 visits
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 EU Commission clears a merger, subject to remedies, in the market of dairy products (WhiteWave / Danone)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 EU Commission conditionally clears a merger in the professional social network market (Microsoft / LinkedIn)
Milbank (London)
United Kingdom 21 contributions 12200 visits
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 (...)

The EU Commission clears the acquisition of a leading global professional social networking platform 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)
Belgium 2 contributions 1218 visits
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European Commission - DG Internal Market and Services (Brussels)
Belgium 4 contributions 3329 visits
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 clears a merger subject to remedies on the professional social networks market (Microsoft / LinkedIn)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 a merger subject to remedies in the pharmaceutical sector (Abbott Laboratories / St Jude Medical)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 EU Commission clears acquisition of global laser manufacturer by its leading competitor, subject to conditions (Coherent / Rofin-Sinar)
European Commission - DG COMP (Brussels)
Belgium 2 contributions 332 visits
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 EU Commission clears a merger, subject to remedies, in the market of train equipment (Wabtec / Faiveley)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 EU Commission clears acquisition between two of the world’s largest rail equipment manufacturers, subject to the divestment of the overlapping friction materials business (Wabtec / Faiveley)
European Commission - DG COMP (Brussels)
Belgium 2 contributions 429 visits
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Guyer & Regules (Montevideo)
Uruguay 1 contribution 170 visits
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European Commission - Legal Service (Brussels)
Belgium 3 contributions 524 visits
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 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)
Italy 9 contributions 3215 visits
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 (...)

The EU Commission conditionally clears a merger in the Italian telecommunications market (Hutchison / VimpelCom)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission approves Hutchison/VimpelCom joint venture in Italy, subject to conditions* The European Commission has approved under the EU Merger Regulation a proposed telecommunications joint venture between Hutchison and VimpelCom in Italy. The approval is conditional on the (...)

The EU Commission clears a merger, subject to remedies, in the lifting equipment market (Konecranes / Terex)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

The EU Commission clears a merger subject to remedies in the pharmaceutical sector (Boehringer Ingelheim / Sanofi)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

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)
European Commission - DG COMP (Brussels)
Belgium 5 contributions 2569 visits
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Sullivan & Cromwell LLP
Belgium 1 contribution 267 visits
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)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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)
Belgium 227 contributions 71788 visits
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 US FTC requires divestitures in many local markets for traditional supermarket stores although there are between three and six remaining competitors (Ahold / Delhaize)
Dechert (Washington)
United States 15 contributions 2501 visits
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Dechert (Washington)
United States 3 contributions 1511 visits
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 EU Commission conditionally clears an acquisition in the market for satellite launch services (Arianespace / ASL)
Van Bael & Bellis (Brussels)
Belgium 227 contributions 71788 visits
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 (...)

The EU Commission clears a merger, subject to remedies, in the pharmaceutical sector (Meda / Mylan)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Mergers: Commission clears acquisition of Meda by Mylan subject to conditions* The European Commission has approved under the EU Merger Regulation the proposed acquisition of Meda AB of Sweden by Mylan N.V. of the Netherlands, subject to conditions. Both companies operate in the (...)

The EU Commission clears a merger, subject to remedies, in the markets for satellites and launch services (Arianespace / ASL)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

The US DoJ approves a merger of the world’s two largest beer producers subject to extensive structural and behavioral remedies (AB InBev / SABMiller)
Wilson Elser (New York)
1 contribution 401 visits
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 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)
United States 2 contributions 507 visits
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Wilson Sonsini Goodrich & Rosati (Boston)
United States 10 contributions 8525 visits
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)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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, subject to conditions (Plastic Omnium / Faurecia)
European Commission - DG TAXUD (Brussels)
Belgium 4 contributions 1424 visits
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European Commission - DG COMP (Brussels)
Belgium 2 contributions 380 visits
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Freshfields Bruckhaus Deringer (Paris)
France 2 contributions 5388 visits
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 EU Commission clears acquisition between two global building materials companies active in the cement markets, subject to the divestment of geographically overlapping business (HeidelbergCement / Italcementi)
Danone (Paris)
France 2 contributions 444 visits
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European Commission - DG COMP (Brussels)
Belgium 2 contributions 302 visits
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 market of building materials (HeidelbergCement / Italcementi)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 the two largest global brewers, respectively third and fourth in Europe, subject to conditions (AB InBev / SABMiller)
European Commission - DG COMP (Brussels)
Belgium 3 contributions 2193 visits
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European Commission - DG COMP (Brussels)
Belgium 2 contributions 332 visits
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 EU Commission conditionally clears a merger in the beer sector (AB InBev / SABMiller)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
MERGERS: COMMISSION APPROVES AB INBEV’S ACQUISITION OF SABMILLER, SUBJECT TO CONDITIONS* The European Commission has cleared under the EU Merger Regulation the proposed acquisition of SABMiller, the world’s second largest brewer, by AB InBev, the world’s largest brewer. The clearance is (...)

The EU Commission clears a merger subject to remedies in the European beer market (AB InBev / SABMiller)
Van Bael & Bellis (Brussels)
Belgium 227 contributions 71788 visits
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, subject to remedies, a merger between two container liner shippers (CMA CGM / NOL)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 EU Commission conditionally approves a merger subject to divestment commitments and behavioral conditions in the payment services and terminals sector (Equens / Worldline)
Van Bael & Bellis (Brussels)
Belgium 227 contributions 71788 visits
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 in FRAND conditions (Equens / Wordline)
Norton Rose Fulbright (Brussels)
Belgium 20 contributions 5550 visits
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 EU Commission clears a merger subject to remedies in the retail and wholesale fuels markets (Statoil Fuel / Shell)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 EU Commission clears a merger, subject to remedies, in the pharmaceutical market (Teva / Allergan Generics)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 a 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)
European Commission - DG COMP (Brussels)
Belgium 5 contributions 2569 visits
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URBAN STEINECKER GAŠPEREC BOŠANSKÝ (Bratislava)
Slovakia 1 contribution 325 visits
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Sciences Po Paris
France 5 contributions 1711 visits
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)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 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)
European Commission - DG ENER (Brussels)
Belgium 1 contribution 172 visits
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European Commission - DG COMP (Brussels)
Belgium 7 contributions 4734 visits
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European Commission - DG COMP (Brussels)
Belgium 2 contributions 449 visits
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 clears a merger subject to remedies in the office supplies market (Staples / Office Depot)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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. (...)

The EU Commission approves the acquisition of a mobile network operator by a virtual mobile network operator, subject to fix-it-first remedies (Liberty Global / BASE)
European Commission - DG COMP (Brussels)
Belgium 3 contributions 5709 visits
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University of Tokyo
Japon 15 contributions 7658 visites
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 (...)

The EU Commission conditionally approves a merger in the telecommunications sector (Liberty Global / BASE)
Van Bael & Bellis (Brussels)
Belgium 227 contributions 71788 visits
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 (...)

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 (Odile Jacob)
Franklin (Paris)
France 34 contributions 21596 visits
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)
McDermott Will & Emery (Paris)
France 134 contributions 65947 visits
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 (...)

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)
Belgium 2 contributions 492 visits
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European Commission - DG COMP (Brussels)
Belgium 2 contributions 499 visits
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 EU Commission clears a merger subject to remedies in the market of beverage can manufacturing (Ball / Rexam)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

The EU Commission clears a merger subject to remedies in the market of heating products (Elster / Honeywell)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

The EU Commission clears a merger, subject to remedies, on the market of chemicals for the mining industry (Solvay / Cytec)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 (...)

The EU Commission approves the acquisition by a rival of a data center operator subject to the divestment of several data centers in Amsterdam, London, and Frankfurt (Telecity / Equinix)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
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 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
Belgium 1 contribution 174 visits
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European Commission - DG COMP (Brussels)
Belgium 4 contributions 2499 visits
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EFTA Surveillance Authority (Brussels)
Belgium 3 contributions 730 visits
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"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 (...)

The EU Commission clears a merger subject to remedies in the radio frequency and power transistors market (NXP / Freescale)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
MERGERS: COMMISSION APPROVES NXP’S ACQUISITION OF FREESCALE, SUBJECT TO CONDITIONS* The European Commission has approved the acquisition of Freescale by NXP, subject to divestment of NXP’s radio frequency power business, where the takeover could have led to higher prices and less (...)

The EU Commission clears the acquisition of a global semiconductor manufacturer, subject to the divestment of its radio frequency power business (NXP / Freescale)
European Commission - Secretariat General (Brussels)
Belgium 3 contributions 730 visits
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European Commission - DG COMP (Brussels)
Belgium 3 contributions 5709 visits
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European Commission - DG COMP (Brussels)
Belgium 1 contribution 162 visits
NXP / Freescale: global remedies in a 3 to 3 semiconductor merger* In a nutshell: The case concerned the combination of two major semiconductor manufacturers active worldwide, which was reviewed in several jurisdictions. The Commission cooperated particularly closely with the US FTC to (...)

The EU Commission clears a global energy leader’s biggest industrial acquisition of the third-largest competitor, subject to divesting part of the gas business to the fifth largest competitor, and other remedies (General Electric / Alstom)
European Commission - DG TAXUD (Brussels)
Belgium 4 contributions 1424 visits
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Snap Inc. (Paris)
France 3 contributions 881 visits
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European Commission - DG COMP (Brussels)
Belgium 2 contributions 539 visits
General Electric / Alstom: our heavy duty* In a nutshell: The GE/Alstom merger raised concerns in relation to the supply of Heavy Duty Gas Turbines, which are expected to play an important role in the coming decades in the European energy mix. The case is interesting amongst other factors (...)

The EU Commission clears a merger subject to remedies in the pharmaceutical sector (Pfizer / Hospira)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
MERGERS: COMMISSION APPROVES ACQUISITION OF HOSPIRA BY PFIZER * The European Commission has approved the proposed acquisition of Hospira by Pfizer under the EU Merger Regulation. Both companies are US based and active globally in the development and marketing of human pharmaceuticals. The (...)

The EU Commission clears acquisition of a pharmaceutical company, with effects in the market for biosimilars, subject to remedies that ensure innovation competition (Pfizer / Hospira)
European Commission - DG COMP (Brussels)
Belgium 2 contributions 1782 visits
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Sciences Po Paris
France 5 contributions 1711 visits
Pfizer / Hospira: Through the lookingglass: assessing competition by biosimilars* In a nutshell In Pfizer/Hospira, the Commission assessed biosimilar drugs in detail for the first time. Biosimilars aim to have the same therapeutic mechanism as, and be clinically equivalent to, original (...)

The EU Commission clears acquisition of the third-largest company by the second-largest company in the market for industrial chocolate, subject to conditions (Cargill / ADM)
European Commission
Belgium 2 contributions 275 visits
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European Commission - DG COMP (Brussels)
Belgium 2 contributions 377 visits
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European Commission - DG COMP (Brussels)
Belgium 1 contribution 124 visits
Cargill/ADM: How far would you go for chocolate?* In a nutshell: This case involved assessing the horizontal overlaps between two of the top three producers of industrial chocolate in Europe. Key elements were the reconstruction of market shares based on a customer- and plant-based (...)

The EU Commission clears a merger, subject to remedies, in the market of industrial chocolate (Cargill / ADM)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Commission approves Cargill’s acquisition of ADM’s industrial chocolate business, subject to conditions* The European Commission has approved under the EU Merger Regulation the proposed acquisition of the industrial chocolate business of Archer Daniels Midland (’ADM’) by Cargill, subject to (...)

The EU Commission clears a merger subject to remedies in the airline market (Aer Lingus / IAG)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Commission approves acquisition of Aer Lingus by IAG, subject to conditions* The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Irish airline Aer Lingus by International Consolidated Airlines Group (IAG). IAG is the holding company of British (...)

The EU Commission conditionally approves online rights licensing and administration joint venture between collective management organizations (PRSfM / STIM / GEMA)
Van Bael & Bellis (Brussels)
Belgium 227 contributions 71788 visits
On 16 June 2015, the EU Commission conditionally approved the proposed joint venture between music collective management organisations PRS for music Limited (“PRSfm”) of the UK, Föreningen Svenska Tonsättares Internationella musikbyrå u.p.a. (“STIm”) of Sweden, and Gesellschaft für (...)

The EU Commission approves a joint venture for cross-border licensing of online music between three music collecting societies (PRSfM / STIM / GEMA)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Commission approves joint venture for cross-border licensing of online music between PRSfM, STIM and GEMA, subject to commitments* Following an in-depth investigation, the European Commission has approved under the EU Merger Regulation the proposed creation of a joint venture for (...)

The EU Commission clears a merger subject to remedies in the pharmaceutical sector (Merck / Sigma-Aldrich)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
MERGERS: COMMISSION APPROVES ACQUISITION OF SIGMA-ALDRICH BY MERCK, SUBJECT TO CONDITIONS * The European Commission has approved the proposed acquisition of Sigma-Aldrich by Merck under the EU Merger Regulation. Both companies are active world-wide in the life science sector. The decision is (...)

The EU Commission conditionally approves the acquisition of a life science company affecting the market for laboratory chemicals (Merck / Sigma-Aldrich)
European Commission - DG COMP (Brussels)
Belgium 5 contributions 2569 visits
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European Commission - DG COMP (Brussels)
Belgium 7 contributions 4734 visits
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Sciences Po Paris
France 5 contributions 1711 visits
Merck/Sigma-Aldrich: the 200,000 products case* In a nutshell: In the life science case Merck/Sigma-Aldrich, the Commission focused for the first time on "laboratory chemicals", a term that covers hundreds of thousands of specialty chemicals. The Commission identified concerns regarding the (...)

The EU Commission approves an acquisition in the telecommunications sector after a lengthy Phase II investigation and subject to extensive commitments (Orange / Jazztel)
Van Bael & Bellis (Brussels)
Belgium 227 contributions 71788 visits
On 19 May 2015, the European Commission conditionally approved the acquisition of Jazztel by rival telecommunications provider Orange. The approval, after a lengthy Phase II investigation including a Statement of Objections issued in February, is subject to extensive commitments to facilitate (...)

The EU Commission conditionally clears the acquisition of a telecommunications company in the Spanish markets for fixed internet access services (Orange / Jazztel)
European Commission - DG COMP (Brussels)
Belgium 1337 contributions 2820628 visits
Commission clears acquisition of Jazztel by Orange, subject to conditions* The European Commission has approved under the EU Merger Regulation the proposed acquisition of Jazztel plc, a telecommunications company registered in the UK but mainly active in Spain, by rival Orange SA of France. (...)

The US DoJ blocks a merger between two semiconductor equipment suppliers because the combination would have threatened to diminish innovation (AMAT / TEL)
Doyle, Barlow & Mazard (Washington DC)
United States 5 contributions 1503 visits
Mergers That Diminish Innovation Present Deal Risk* On April 27, 2015, the Department of Justice’s (“DOJ”) Antitrust Division released a statement regarding Applied Materials Inc. (“AMAT”) and Tokyo Electron’s (“TEL”) joint announcement that they abandoned their merger. The Antitrust (...)

The EU Commission conditionally clears a merger following an in-depth investigation (Zimmer / Biomet)
European Commission - DG COMP (Brussels)
Belgium 2 contributions 449 visits
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UK Competition & Markets Authority - CMA (London)
United Kingdom 2 contributions 3127 visits
Introduction On 30 March 2015, the European Commission conditionally cleared Zimmer’s acquisition of Biomet, following an in-depth investigation. Zimmer and Biomet are two of the five leading competitors in the medical implants industry. The transaction was initially notified on 3 June (...)

The US FTC orders an oil company to terminate its storage and throughput rights in a key gasoline terminal sector (Par Petroleum)
McDermott Will & Emery (Paris)
France 134 contributions 65947 visits
On March 18, 2015, the Federal Trade Commission (FTC) ordered Par Petroleum Corporation to terminate its storage and throughput rights at a key gasoline terminal in Hawaii. This action will settle FTC charges seeking to prevent Par’s acquisition of Koko’oha Investments, Inc. Notably, the (...)

The US DoJ obtains disgorgement of profits for an illegally consummated merger in the sector of city sightseeing by bus (Coach USA / City Sights / Twin America)
Doyle, Barlow & Mazard (Washington DC)
United States 5 contributions 1503 visits
DOJ Obtains Disgorgement of Profits for Illegally Consummated Merger* On March 16, 2015, the Department of Justice (“DOJ”) and New York State Attorney General announced that they reached a settlement with Coach USA Inc., City Sights LLC and their joint venture, Twin America LLC, to remedy (...)

The EU Commission conditionally clears the acquisition of a media company by a competitor (De Vijver Media / Liberty Global)
Ashurst (Milan)
Italy 102 contributions 29539 visits
European Commission clears acquisition of Belgian media company by Liberty Global subject to commitments* Last 24 February the European Commission cleared Liberty Global’s acquisition of a controlling stake in the Belgian media company De Vijver Media NV (“De Vijver”), subject to (...)

A US State Court rejects a proposed consent judgment for under-addressing the competitive harm (Commonwealth of Massachusetts / Partners Healthcare System)
Constantine Cannon (New York)
United States 2 contributions 447 visits
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New York State Office of Cannabis Management ·
United States 1 contribution 267 visits
Massachusetts Court Unsettles Partners’ Hospital Merger By Nixing Consent Judgment* A Massachusetts state court on Thursday derailed the settlement of a challenge to the proposed merger of Partners Health System with rivals South Shore Health and Educational Corp. (South Shore Hospital) and (...)

The EU Commission conditionally approves deals in the pharmaceutical sector extending its analysis of pipeline pharmaceutical products (Novartis / GSK)
Sciences Po Paris
France 5 contributions 1711 visits
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European Commission - DG COMP (Brussels)
Belgium 2 contributions 429 visits
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European Commission - DG COMP (Brussels)
Belgium 2 contributions 1413 visits
"Protecting the drugs of tomorrow : competition and innovation in healthcare"* In a nutshell : In Novartis/GSK Oncology, the Commission extended its analysis of pipeline pharmaceutical products beyond those that are in advanced stages of development (phase III), to fully assess the (...)

The EU Commission conditionally approves a three-part deal in the pharmaceutical sector (Novartis / GSK)
Van Bael & Bellis (Brussels)
Belgium 227 contributions 71788 visits
On 28 January 2015, in two separate decisions, the European Commission conditionally approved a complex transaction between pharmaceuticals producers GlaxoSmithKline (GSK) and Novartis that will result in: (i) GSK’s acquisition of Novartis’ human vaccines business; (ii) the formation of a (...)

The US FTC and the Canadian Competition Authority adopt a similar approach to grocery mergers, requiring structural remedies (Albertsons / Sobeys / Loblaw)
Stikeman Elliott (Toronto)
Canada 2 contributions 542 visits
GROCERY MERGERS IN THE UNITED STATES AND CANADA: SOMETHING TO CHEW ON* On January 27, the U.S. Federal Trade Commission announced a competition law remedy in respect of the Albertsons / Safeway grocery merger, requiring the divestiture of 168 supermarkets in 130 local markets in numerous (...)

The US DoJ approves a merger under conditions to resolve a vertical antitrust concern in the vehicle air springs market (Continental / Veyance Technologies)
Doyle, Barlow & Mazard (Washington DC)
United States 5 contributions 1503 visits
DOJ’s Approval of Continental AG’s Acquisition of Veyance Requires Remedy of a Vertical Concern* On December 11, 2014, the Department of Justice (“DOJ”) approved Continental AG’s $1.8 billion acquisition of Veyance Technologies with conditions. The settlement agreements requires (...)

The EU Commission imposes several commitments to alleviate vertical competition concerns in the space industry (Airbus / Safran)
European Commission - DG COMP (Brussels)
Belgium 2 contributions 539 visits
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DG TRADE (Brussels)
Belgium 2 contributions 492 visits
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Spanish Copyright Board (Madrid)
Spain 1 contribution 316 visits
"Airbus /Safran /JV: Launching competition into space"* In a nutshell : In the Airbus /Safran/JV case, the Commission looked at the space industry. Several commitments were imposed to alleviate foreclosure concerns of competitors. One of the vertical concerns identified required (...)

The US DoJ announces a proposed $4.95 million settlement for alleged “gun-jumping” while the parties’ proposed transaction is under antitrust review (Flakeboard America / SierraPine)
O’Melveny & Myers (Washington)
United States 3 contributions 1157 visits
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O’Melveny & Myers (Washington)
United States 1 contribution 245 visits
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O’Melveny & Myers (Washington)
United States 1 contribution 245 visits
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This article has been nominated for the 2015 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards. On November 7, 2014, the Antitrust Division of the U.S. Department of Justice (“DOJ”) announced a proposed $4.95 million settlement with Flakeboard America (...)

The US DoJ reaches $5 million settlement with companies after allegations of premerger coordination (Flakeboard America / SierraPine)
Wolters Kluwer (Riverwoods)
United States 78 contributions 38910 visits
U.S. Premerger Coordination Allegations Settled for $5 Million in Civil Penalties, Disgorgement* The dangers of prematurely exercising operational control over an acquisition target, or at least appearing to operate organizational control, are highlighted by a Department of Justice Antitrust (...)

The DoJ condemns pre-merger coordination requiring target company to sell factory (Flakeboard America / SierraPine)
Skadden, Arps, Slate, Meagher & Flom (New York)
United States 18 contributions 9015 visits
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Skadden, Arps, Slate, Meagher & Flom (New York)
United States 22 contributions 10246 visits
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Skadden, Arps, Slate, Meagher & Flom (New York)
United States 21 contributions 8480 visits
On November 7, 2014, the United States Department of Justice, Antitrust Division (DOJ) announced a $5 million agreement to settle charges that Flakeboard and SierraPine had engaged in unlawful pre-merger coordination . The DOJ’s complaint alleged that the parties’ conduct constituted both a (...)

The US DoJ requires disgorgement for gun-jumping violations in an abandoned transaction (Flakeboard America / SierraPine)
Kirkland & Ellis (New York)
United States 9 contributions 3025 visits
This article has been nominated for the 2015 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards. On November 7, 2014, the U.S. Department of Justice, Antitrust Division (“DOJ”) announced that it had entered into a settlement with Flakeboard and SierraPine (...)

The EU Commission clears the acquisition of a Dutch cable TV operator by a competitor, subject to conditions (Liberty Global / Ziggo)
European Commission - DG CNECT (Brussels)
Belgium 1 contribution 499 visits
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European Commission - DG COMP (Brussels)
Belgium 2 contributions 702 visits
"Liberty Global/Ziggo: Consolidation and Innovation in Telecoms"* In the midst of the telecoms consolidation wave observed in Europe and the US, the Commission’s review of Liberty Global/Ziggo highlights the risk that fixed network consolidation can pose to innovation. Even in the (...)

The EU Commission approves the acquisition of several chemical businesses, subject to conditions (Huntsman / Rockwood)
Snap Inc. (Paris)
France 3 contributions 881 visits
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EFTA Surveillance Authority (Brussels)
Belgium 3 contributions 730 visits
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European Commission - DG COMP (Brussels)
Belgium 2 contributions 728 visits
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"The "White Powder" Case: Balancing the Evidence"* The Huntsman- Rockwood TiO2 merger provides lessons for future chemical cases on the following topics: 1) The use of market features and price correlation to define relevant market. 2) Competition by Chinese products in the (...)

The EU Commission fines a leading company in salmon farming €20 million for breaching the standstill obligation and failing to meet notification requirements (Marine Harvest / Morpol)
European Commission - DG COMP (Brussels)
Belgium 4 contributions 1997 visits
Article originally published in DG Competition’s Competition merger brief, as Competition merger brief 1/2014 (click here), under the title "Harvesting salmon, jumping guns: the Marine Harvest early implementation case". Please note that all articles published in the CPN are subject to a (...)

The EU Commission clears the acquisition by a Swedish steelmaker of its Finnish rival, subject to the divestment of five businesses in Finland, Sweden, and Norway (SSAB / Rautaruukki)
BNP Paribas (Paris)
France 1 contribution 354 visits
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European Commission - DG COMP (Brussels)
Belgium 4 contributions 1997 visits
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European Commission - Legal Service (Brussels)
Belgium 3 contributions 524 visits
"Viking Steel: the SSAB / Rautaruukki merger"* The SSAB / Rautaruukki case gives insight into the Commission’s approach to market definition in merger cases. The case confirms that the Commission’s approach is case-specific, and driven by the issues at stake in a given case rather (...)

The US FTC approves the 2013 Hart-Scott-Rodino premerger notification program, which provides the enforcing agencies with information about large mergers and acquisitions before they occur
Sheppard Mullin (Washington)
United States 12 contributions 1801 visits
Some Interesting Numbers Regarding Merger Review: The Hart-Scott-Rodino Annual Report for Fiscal Year 2013* The Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) requires that proposed acquisitions of voting securities, assets or non-corporate interests meeting certain (...)

The EU Commission clears a merger between the two top-tier suppliers of S-PVC upon submission of significant remedies (INEOS / Solvay / JV)
European Commission - DG COMP (Brussels)
Belgium 6 contributions 13483 visits
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European Commission - DG COMP (Brussels)
Belgium 2 contributions 3554 visits
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European Commission - DG COMP (Brussels)
Belgium 4 contributions 1997 visits
"INEOS / Solvay / JV: Yet another P(ractically) V(ery) C(omplex) merger"* In a nutshell : Natural experiments are rare in merger assessment. However, previous mergers in the PVC industry made it possible in this case to analyse the effects of consolidation on competition and prices. (...)