We have been asked to update the foreword to this impressive publication. We take great pride in accepting this assignment and we hope that our contribution to this important piece of work helps set the scene in an ever more complex world of merger control procedures. Mergers and acquisitions are key functions of the capital markets. Combined with the fact that nowadays a merger control (...)
Prohibited mergers
Mergers
The New Caledonian Competition Authority prohibits a proposed acquisition in the health sector (Calédobio / Biolabo)
The ACNC prohibits a concentration operation in the health sector*
In its decision 2023-DCC-06 of November 17, 2023, the Authority prohibits the takeover of exclusive control of SPFPL-SARL Biolabo NC by SELAS Bioclinic, due to the risks of harm to competition.
In May 2023, the Calédobio (...)
The Norwegian Competition Authority issues a Statement of Objections over the planned acquisition of an airline by a rival for concerns that it might lead to higher prices and fewer services (Norwegian / Widerøe)
There may be grounds to prohibit Norwegian’s acquisition of Widerøe*
The Norwegian Competition Authority is still concerned that competition in the market for air travel may be impaired if Norwegian is permitted to acquire Widerøe. The Authority is therefore considering prohibiting the (...)
The US FTC sues to block a proposed acquisition in healthcare industry to prevent higher prices and reduced incentive to improve quality of care for patients (John Muir Health / San Ramon Regional Medical Center)
FTC Sues to Block John Muir Health’s Takeover of San Ramon Regional Medical Center*
Proposed deal would threaten competition in California’s I-680 corridor, leading to higher prices and reduced incentive to improve quality of care for patients
The Federal Trade Commission today sued to (...)
The EU Commission orders a biotech company to unwind its completed acquisition of a nascent rival (Illumina / Grail)
Commission orders Illumina to unwind its completed acquisition of GRAIL*
Today, the European Commission has adopted, under the EU Merger Regulation (‘EUMR’), restorative measures requiring Illumina to unwind its completed acquisition of GRAIL, following the Commission’s decision to prohibit (...)
The EU Commission orders the US genomics company that produces next generation sequencing systems to unwind its completed acquisition of a nascent rival which is active in the development of blood-based cancer detection tests that result from genomic sequencing (Illumina / Grail)
On 12 October 2023, the European Commission (the Commission ) ordered Illumina, the US genomics company that produces next generation sequencing systems, to sell Grail, the developer of blood-based cancer detection tests that result from genomic sequencing, and restore the situation which (...)
The EU Commission orders a biotech company to unwind its completed acquisition of a competitor in its first-ever reversal decision (Illumina / Grail)
Unprecedented European Commission Order to Unwind an Acquisition*
On October 12, 2023, the European Commission (EC) ordered Illumina to unwind its already completed acquisition of the cancer-test provider GRAIL Inc. This is the first time that the EC has ordered a reversal of an acquisition. (...)
The EU Commission issues a decision ordering a genomics company to unwind its already completed acquisition of a cancer detection test producer after prohibiting the transaction over a year ago (Illumina / Grail)
On 12 October 2023, the European Commission (“Commission”) issued a decision ordering genomics company Illumina to unwind its already completed acquisition of cancer detection test producer Grail, after prohibiting the transaction over a year ago.
The Commission accepted jurisdiction to (...)
The EU Commission prohibits a proposed acquisition in the online travel booking industry based on the theory of harm principle (Booking.com / eTraveli)
On 25 September 2023, the European Commission (“Commission”) announced its prohibition of Booking Holdings’ planned €1.6 billion acquisition of Flugo Group Holdings (“eTraveli”). Booking is a US-based online travel agency (“OTA”) that operates a variety of travel brands including Booking.com, (...)
The EU Commission blocks the proposed acquisition of an online travel agency by a leading online hotel booking platform (Booking.com / eTraveli)
On September 25, 2023, the European Commission (EC) blocked the proposed acquisition by Booking Holdings, Inc. of Flugo Group Holdings AB (eTraveli). This is the EC’s first prohibition of a transaction this year and its first-ever prohibition based solely on concerns regarding “conglomerate (...)
The EU Commission prohibits the proposed acquisition of a global online travel agency service platform by a rival (Booking.com / eTraveli)
Mergers: Commission prohibits proposed acquisition of eTraveli by Booking*
The European Commission has prohibited, under the EU Merger Regulation, the proposed acquisition of Flugo Group Holdings AB (‘eTraveli’) by Booking Holdings (‘Booking’). The acquisition would have allowed Booking to (...)
The Luxembourg Competition Authority affirms the EU Commission’s prohibition of the proposed acquisition of a global online travel agency service platform by a rival (Booking.com / eTraveli)
Commission prohibits Booking’s proposed acquisition of eTraveli*
The European Commission has prohibited, under the EU Merger Regulation, the proposed acquisition of Flugo Group Holdings AB (“eTraveli”) by Booking Holdings (“Booking”).
The Commission’s decision follows an in-depth (...)
The EU Commission blocks the proposed acquisition of an online flight booking services provider by a leading online hotel booking services provider based on ecosystem-related concerns (Booking.com / eTraveli)
European Commission blocks Booking’s proposed acquisition of eTraveli.*
After an in-depth investigation, the European Commission has blocked Booking’s proposed acquisition of eTraveli Group, given concerns the acquisition would strengthen Booking’s dominant position in the European hotel (...)
The EU Commission prohibits the acquisition of an online flight booking services provider by a leading online hotel booking services provider based on ecosystem-related concerns (Booking.com / eTraveli)
The EC Prohibits the Booking/eTraveli Merger: A One-off, or a Sign of Things To Come?*
Introduction
On 25 September 2023, the European Commission prohibited the acquisition of the online flight booking service eTraveli by Booking Holdings, the leading provider of online hotel bookings in (...)
The Australian Competition Authority opposes a toll road operator’s proposed acquisition of a majority interest in a rival (Transurban Group / Horizon Roads)
ACCC opposes Transurban’s EastLink acquisition proposal*
The ACCC has decided to oppose the proposed acquisition of a majority interest in Horizon Roads by Transurban Group (ASX: TCL) after concluding that the transaction would be likely to substantially lessen competition for future toll (...)
The Lithuanian Competition Authority blocks the acquisition of the largest domestic radio station group (All Media Lithuania / M-1 / M-1 Plus / Lietus / Laluna / Raduga / Reklamos ekspertai)
COMPETITION COUNCIL DENIES TV3 SHAREHOLDER’S TAKEOVER OF LITHUANIA’S LARGEST RADIO STATION GROUP*
All Media Lithuania will not be able to acquire 100% of the shares of three companies that operate the radio stations M-1, M-1 Plus, Lietus, Laluna, Raduga, and the company Reklamos ekspertai. (...)
The Australian Competition Authority issues a draft determination proposing to deny authorisation to two airlines to continue coordinating operations between Australia and mainland China (Qantas / China Eastern)
The ACCC proposes to deny coordination between Qantas and China Eastern*
The ACCC has issued a draft determination proposing to deny authorisation for Qantas Airways Ltd and China Eastern Airlines Corporation Limited and their related entities (including Jetstar) to continue coordinating (...)
The German government prohibits the acquisition of an additional stake in a satellite startup by a Chinese investor after an FDI screening (KLEO connect / Shanghai Spacecom Satellite Technology)
In September 2023, the German government blocked the planned acquisition by Shanghai Spacecom Satellite Technology of an additional 45% stake in German satellite startup KLEO Connect. The startup aims to create a network of more than 300 low earth orbit satellites for global communication (...)
The German Government blocks a Chinese firm’s takeover of a German satellite startup (KLEO connect / Shanghai Spacecom Satellite Technology / CED)
After feverishly frequent updates on FDI screening in Germany over the past few years, things seemed to have calmed down recently. Now the German government is back with a bunch of news: On the enforcement front, the recent prohibition regarding satellite communications provider KLEO Connect (...)
The COMESA Competition Authority prohibits the acquisition of a decorative coatings business in Eswatini, Zambia, and Zimbabwe by a Dutch multinational company (AkzoNobel / Kansai Plascon)
Mergers: COMESA Competition Commission prohibits AkzoNobel’s acquisition of the Decorative Coatings Business of Kansai Plascon in Eswatini, Zambia, and Zimbabwe*
The COMESA Competition Commission (the "Commission") has prohibited the proposed acquisition by AkzoNobel N.V ("AkzoNobel") of the (...)
The COMESA Competition Commission issues a landmark decision to partially prohibit the acquisition of a decorative coatings business by a foreign multinational (AkzoNobel / Kansai Plascon)
Prohibiting a Merger Long in the Making: CCC’s First M&A Prohibition*
The COMESA Competition Commission Issues Its First Partial Refusal to Grant Merging Parties Permission to Consummate Merger
On 2 September 2023, the COMESA Competition Commission released its decision to prohibit the (...)
The COMESA Competition Authority partially blocks a Dutch multinational company’s acquisition of a decorative coatings business in Eswatini, Zambia, and Zimbabwe (AkzoNobel / Kansai Plascon)
On 4 September 2023, the COMESA Competition Commission (the CCC) announced that it had partially prohibited the proposed acquisition by AkzoNobel N.V (AkzoNobel) of the decorative coatings business of Kansai Plascon East Africa Proprietary Limited and Kansai Plascon Africa Limited (...)
The UK Competition Authority announces that the Competition Appeal Tribunal has fully dismissed a legal challenge brought against a decision by the Competition Authority to block a merger between the two largest suppliers of "ready to bake" products (Cerelia / Jus-Rol)
CMA wins legal challenge in Cérélia/Jus-Rol case*
The Competition Appeal Tribunal has fully dismissed a legal challenge by Cérélia and upheld the CMA’s decision to block Cérélia’s acquisition of Jus-Rol.
The Tribunal dismissed all 4 grounds of Cérélia’s “attack” on the CMA’s decision. (...)
The Brazilian Competition Authority blocks the proposed acquisition of cold dairy products producer by a rival (Lactalis / DPA Brasil)
CADE’s investigative arm recommends blocking Lactails’ acquisition of DPA Brasil*
The case was submitted to the Tribunal of the agency for a final decision
The Office of the Superintendent-General of the Administrative Council for Economic Defense (SG/CADE) submitted for analysis of the (...)
The South African Competition Authority prohibits a merger between two large telecoms infrastructure owners (Vodacom / Maziv)
COMMISSION RECOMMENDS PROHIBITION OF VODACOM/MAZIV MERGER*
The Competition Commission (Commission) has recommended that the proposed large merger whereby Vodacom (Pty) Ltd (Vodacom), intends to acquire control in Business Venture Investments no 2213 Proprietary Limited ("Newco"/ “Maziv”) be (...)
The Australian Competition Authority blocks the proposed acquisition of a financial institution by a banking group (ANZ / Suncorp)
Don’t bank on merger authorisation: ANZ/Suncorp implications*
On 4 August 2023, the ACCC denied an application for merger authorisation of Australia and New Zealand Banking Group’s (ANZ) proposal to acquire 100% of the shares of SGBH Limited (which owns 100% of the shares of Suncorp Bank) (...)
The Australian Competition Authority denies authorisation for a proposed acquisition in the banking industry (ANZ / Suncorp)
ACCC denies authorisation for ANZ to acquire Suncorp Bank*
The ACCC has decided not to grant merger authorisation for ANZ Banking Group (ASX:ANZ) to acquire Suncorp Group’s (ASX:SUN) banking arm.
Under the statutory test, the ACCC must not grant authorisation unless it is satisfied in all (...)
The US FTC and DoJ release a draft version of their new Merger Guidelines which significantly impacts the market definition exercise
An Overview of Market Definition in the Draft Merger Guidelines*
The Horizontal Merger Guidelines issued by the US Federal Trade Commission (FTC) and the Antitrust Division of the US Department of Justice (DOJ) have been an important source of guidance on the Agencies’ approach to merger (...)
The US FTC sues to block the acquisition of a media company by the world’s largest healthcare data provider to prevent increased concentration in healthcare programmatic advertising (IQVIA / Propel Media)
FTC Sues to Block IQVIA’s Acquisition of Propel Media to Prevent Increased Concentration in Health Care Programmatic Advertising*
Merger would harm competition, raise prices for consumers, and hurt patients
The Federal Trade Commission is seeking to block IQVIA Holdings Inc. (IQVIA), the (...)
The EU Court of Justice holds that the General Court erred in law, inter alia, when it said the Commission must demonstrate a strong probability that a merger in the telecoms sector would significantly impede effective competition, the correct standard is on the balance of probabilities (Telefónica UK / Hutchison 3G UK)
The General Court must rule once more on the lawfulness of the Commission’s prohibition of the acquisition of Telefónica Europe (‘O2’) by Hutchison 3G UK (‘Three’)*
On 11 May 2016, the Commission adopted a decision in which it blocked, under the Merger Regulation, the proposed acquisition of (...)
The EU Court of Justice holds that the General Court erred in law and clarifies several key concepts in the interpretation of merger control rules including standard of proof, “important competitive force”, and “closeness of competition” (Telefónica UK / Hutchison 3G UK)
In July 2023, the European Court of Justice (ECJ) annulled the General Court of the European Union’s judgment from 2020. That 2020 judgment, appealed by CK Telecom, had overturned the European Commission’s decision to prohibit CK Telecom’s acquisition of Telefonica UK business in 2016. The (...)
The EU Court of Justice holds that the Commission needs to show based on a "cogent and consistent body of evidence" that a merger will result in a significant impediment to effective competition before it blocks the transaction or imposes remedies (Telefónica UK / Hutchison 3G UK)
The EU Court of Justice in the CK Telecoms ruling has addressed key questions of EU merger control, including the standard of proof for the European Commission to challenge a merger, the assessment of mergers below the dominance threshold ("gap cases"), the concepts of "closeness of (...)
The EU Commission fines two biotech companies the maximum permitted fine of 10% of their global turnover, €432M, for breaching the standstill obligation (Illumina / Grail)
Mergers: Commission fines Illumina and GRAIL for implementing their acquisition without prior merger control approval*
The European Commission has fined Illumina and GRAIL approximately €432 million and €1,000 respectively, for implementing their proposed merger before approval by the (...)
The Jersey Competition Authority refuses to approve the proposed acquisition in the telecom markets based on the risk of a substantial lessening of competition (Jersey Airtel / Sure Guernsey)
JCRA is minded-to refuse to approve the proposed acquisition of Airtel by Sure due to a likely substantial lessening of competition.*
The Jersey Competition Regulatory Authority (the Authority) has published its Provisional Findings of the proposed acquisition of Jersey Airtel Limited by (...)
The EU Commission fines a major biotech company for jumping the gun in acquiring a nascent rival, thereby asserting jurisdiction over transactions lacking European commerce (Illumina / GRAIL)
In an unprecedented intervention by the European Commission (EC), the EC recently asserted jurisdiction over and challenged a United States-based merger that falls below the filing thresholds of the EC and each and every European Union Member State. This action threatens to subject future (...)
The Belgian Competition Authority imposes interim measures on the incumbent telecoms operator following its acquisition of a failing rival following the jurisprudence of the EU Court of Justice in its Towercast ruling (Proximus / EDPnet)
On 22 June 2023, the Belgian Competition Authority (the “BCA”) imposed interim measures on incumbent telecommunications operator Proximus in the context of its acquisition of the assets of near-bankrupt broadband communications service provider EDPnet. This acquisition did not meet the (...)
The Australian Competition Tribunal affirms the Competition Authority’s decision not to grant authorisation for the proposed regional spectrum authorisation arrangements between two telecommunication companies (Telstra / TPG Telecom)
Australian Competition Tribunal denies authorisation for Telstra and TPG regional network deal*
The Australian Competition Tribunal has affirmed the ACCC’s decision not to grant authorisation for the proposed regional spectrum authorisation arrangements between Telstra Corporation Limited (...)
The Czech Competition Authority blocks a merger in the postal service market to guard against market distortion (Česká pošta / PNS)
Czech Competition Authority blocks a merger: exception or start of new trend*
Last week, the Czech Competition Authority ("CCA") blocked an acquisition of part of První novinová společnost a.s. ("PNS") by Česká pošta, s.p. ("Czech Post"). While it is impossible to foresee the exact future of (...)
The Czech Competition Authority blocks the acquisition of a postal operator by a rival on the grounds that it would create a monopoly or near-monopoly (Česká pošta / PNS)
THE OFFICE BLOCKS CONCENTRATION BETWEEN THE CZECH POST AND PNS*
In its first-instance decision, the Office for the Protection of Competition (hereinafter referred to as “the Office”) did not grant a clearance to acquisition of part of assets of První novinová společnost a.s. by Česká pošta, (...)
The Australian Competition Authority intends to block the acquisition of an independent supermarket by a large competing chain (Woolworths / SUPA IGA Karabar)
ACCC opposes Woolworths’ acquisition of SUPA IGA Karabar*
The ACCC opposes Woolworths’ proposed acquisition of the SUPA IGA in Karabar, NSW and its co-located Liquor Boss store, after concluding the transaction would be likely to substantially lessen competition in the supply of groceries in (...)
The UK Competition Appeal Tribunal announces the receipt of an application to review the Competition Authority’s decision to prohibit the acquisition of a leading video game publisher (Microsoft / Activision Blizzard)
This article discusses how the CMA has reached a ‘tipping point’ in ‘Big Tech’ merger enforcement, what the Competition Appeals Tribunal could do in Microsoft v Competition and Markets Authority to recentre and refocus the CMA’s work, and why this all matters to digital markets, and beyond. (...)
The Brazilian Competition Authority blocks the acquisition of an insurer specialising in health insurance by a rival (Hapvida / Grupo Smile)
CADE blocked Hapvida’s acquisition of Grupo Smile*
The transaction could potentially reduce the competition in markets of the Brazilian Northeast.
On 10 May, the Tribunal of the Administrative Council for Economic Defense (CADE) blocked Hapvida’s acquisition of Group Smile, a health (...)
The Dutch Competition Authority blocks the acquisition of a waste-management company by rival (AEB / AVR)
ACM blocks acquisition of waste-management company AEB by rival company AVR*
The Netherlands Authority for Consumers and Markets (ACM) blocks the acquisition of Amsterdam-based waste-management company Afval- en Energiebedrijf (AEB) by rival company Afvalverwerking Rijnmond (AVR). If the (...)
The US FTC opposes a biopharmaceutical giant’s $27.8B acquisition of a global biotechnology company on the grounds that the deal will entrench a monopoly in the drugs market for thyroid eye disease and chronic refractory gout (Amgen / Horizon Therapeutics)
FTC Sues to Block Biopharmaceutical Giant Amgen from Acquisition That Would Entrench Monopoly Drugs Used to Treat Two Serious Illnesses*
The $27.8 billion acquisition of Horizon Therapeutics plc would enable Amgen Inc. to stifle competition for thyroid eye disease and chronic refractory gout (...)
The EU Commission sends a Statement of Objections to a Korean airline over its proposed acquisition of a rival (Korean Air / Asiana)
Mergers: Commission sends Korean Air Statement of Objections over proposed acquisition of Asiana*
The European Commission has informed Korean Air of its preliminary view that its proposed acquisition of Asiana may restrict competition in the markets for passenger and cargo air transport (...)
The UK Competition Authority blocks a $68.7B deal to acquire a leading video game publisher (Microsoft / Activision Blizzard)
On 26 April 2023, the UK Competition and Markets Authority (CMA) blocked Microsoft’s $68.7 billion deal to buy Activision, a leading video games publisher, citing concerns that the deal would distort competition on the nascent cloud gaming market and ultimately lead to reduced innovation and (...)
The UK Competition Authority blocks the proposed acquisition of a leading video game publisher by a Big Tech company (Microsoft / Activision Blizzard)
On April 26, 2023, the Competition and Markets Authority (CMA) blocked what would otherwise have been the largest deal in the gaming industry to date. The decision highlights several important trends, such as: In dynamic markets, regulators are focusing in on whether a deal harms or could harm (...)
The UK Competition Authority rejects the proposed commitments of a Big Tech company and blocks its proposed acquisition of a leading video game publisher (Microsoft / Activision Blizzard)
Microsoft / Activision deal prevented to protect innovation and choice in cloud gaming*
The CMA has prevented Microsoft’s proposed purchase of Activision over concerns the deal would alter the future of the fast-growing cloud gaming market, leading to reduced innovation and less choice for (...)
The Australian Competition Authority opposes a proposed acquisition in the market for the supply of aviation services to mining and resource industry workers (Qantas / Alliance Airlines)
ACCC opposes Qantas’ acquisition of Alliance*
The ACCC will oppose Qantas Airways’ (ASX: QAN) proposed acquisition of Alliance Aviation Services Ltd (ASX: AQZ).
Qantas and Alliance are key suppliers of air transport services to mining and resource companies who need to transport ‘fly-in (...)
The EU Commission sends a statement of objections to a hardware manufacturer regarding its proposed acquisition of a software provider over fears that permitting the deal would restrict competition (VMware / Broadcom)
Mergers: Commission sends Broadcom Statement of Objections over proposed acquisition of VMware*
The European Commission has informed Broadcom of its preliminary view that its proposed acquisition of VMware may restrict competition in the market for certain hardware components which (...)
The US FTC seeks a Federal Court order to prevent the consummation of a potential merger of rival mortgage loan technology providers (Intercontinental Exchange / Black Knight)
FTC Staff Seeks Court Order Preventing ICE from Consummating its Acquisition of Rival Black Knight Pending Agency Administrative Challenge*
The staff of the Federal Trade Commission asked a federal court to issue a temporary restraining order (TRO) and preliminary injunction (PI) to prevent (...)
The US FTC opposes an acquisition of a cancer detection test maker to address competition concerns in the market for research, development, and commercialisation of cancer tests (Illumina / Grail)
FTC Orders Illumina to Divest Cancer Detection Test Maker GRAIL to Protect Competition in Life-Saving Technology Market*
Commission finds that Illumina’s $7.1 billion vertical acquisition is likely to substantially reduce competition in U.S. market for research, development, and (...)
The US DoJ alongside four state Attorney Generals files an action to block the proposed merger of two large low cost airlines (JetBlue / Spirit)
Four Additional States Join Justice Department’s Suit to Block JetBlue’s Acquisition of Spirit Airlines*
Today, the Attorneys General of California, Maryland, New Jersey, and North Carolina joined a civil antitrust lawsuit filed by the Justice Department’s Antitrust Division, the (...)
The EU Court of Justice AG Ćapeta opines that EU law does not preclude national legislation which allows for the screening of foreign direct investment of third country provenance even if implemented via an EU-based company (Xella Magyarország)
Advocate General’s Opinion in Case C-106/22 | Xella Magyarország*
Advocate General Ćapeta: EU law does not, in principle, preclude national legislation which allows for the screening of foreign direct investment of third country provenance even if implemented via an EU-based company
Such (...)
The EU Court of Justice confirms that the national authorities can review ex post below-threshold mergers under abuse of dominance rules (Towercast)
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 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)
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 resurrects an old doctrine to permit the challenge of completed mergers that fall outside the merger thresholds under Art. 102 TFEU (Towercast)
Overview The European Court of Justice (CJEU) brought back to life an old theory which allows acquisitions, which fall below EU and national merger control thresholds, to be challenged post-completion under abuse of dominant position rules (Article 102 TFEU). The judgment creates yet another (...)
The EU Court of Justice confirms the ex post application of abuse of dominance rules to non-notifiable mergers (Towercast)
On 16 March 2023, the Court of Justice (ECJ) issued a preliminary ruling in case C-449/21, Towercast SASU v. Autorité de la concurrence and others (“Towercast”) finding that concentrations that are not subject to any ex-ante notification requirement under national or EU merger control rules (...)
The US FTC seeks to block the merger of two top mortgage loan technology providers (Intercontinental Exchange / Black Knight)
FTC Acts to Block Deal Combining the Two Top Mortgage Loan Technology Providers*
Intercontinental Exchange Inc.’s proposed acquisition of rival Black Knight, Inc. would harm competition and lead to higher costs for lenders and homebuyers
The Federal Trade Commission is taking action to (...)
The US DoJ sues to block the acquisition of a low-cost airline by its closest rival for $3.8B (JetBlue / Spirit)
Justice Department Sues to Block JetBlue’s Proposed Acquisition of Spirit
Acquisition Would Allow JetBlue to Eliminate Its Largest Ultra-Low-Cost Rival, Further Concentrate the Airline Industry, and Harm American Travelers
The Justice Department, together with Attorneys General of the (...)
The UK Competition Authority raises competition concerns in the provision of various veterinary public health inspections in relation to the merger of leading providers of specialised veterinary services that support the UK food supply chain (Eville & Jones / Vorenta)
Merger could mean costlier and lower quality inspections for food industry*
CMA’s investigation into Eville & Jones’ acquisition of Vorenta has raised competition concerns in the provision of various veterinary public health inspections
Eville & Jones and Vorenta are leading (...)
The Dutch Competition Authority blocks the acquisition of a media company by a rival because it would have made a firm too dominant (RTL / Talpa)
ACM definitively blocks acquisition of media company Talpa by rival company RTL*
The Netherlands Authority for Consumers and Markets (ACM) has blocked the acquisition of media company Talpa by rival company RTL, because it would have created too powerful a company in the media sector. If the (...)
The New Zealand Competition Authority releases a Statement of Preliminary Issues over a proposed acquisition of a pet food producer by a supermarket (Woolworths / PETstock)
Statement of Preliminary Issues released for Woolworths’ proposed acquisition of PETstock*
The Commerce Commission has published a statement of preliminary issues relating to an application from Woolworths Group Limited seeking clearance to acquire 55% of the shares in PETstock Pty Limited. (...)
The Finnish Competition Authority identifies competition concerns in a proposed merger in the telecommunications network design, construction, and maintenance market, leading to the abandonment of the deal by the parties (Enersense / Voimatel)
Prohibition decisions and withdrawals of deals have traditionally been rare in Finnish merger control, as the Finnish Competition and Consumer Authority (“FCCA”) and merging parties usually find remedial solutions in cases raising competition concerns. However, in 2020 the Market Court (...)
The UK Competition Authority provisionally holds that the $68.7B acquisition of a gaming firm will lead to higher prices and fewer choices for UK gamers (Microsoft / Activision)
Microsoft – Activision deal could harm UK gamers*
A CMA investigation has provisionally concluded that Microsoft’s proposed acquisition of Activision could result in higher prices, fewer choices, or less innovation for UK gamers. In-depth independent investigation provisionally finds deal (...)
The US DoJ announces that two steel manufacturers are abandoning their proposed merger following an investigation which revealed competition concerns (Benteler Steel / Tenaris)
Benteler Steel & Tube Manufacturing Corp. Abandons Merger with Tenaris, S.A. After Justice Department Investigation*
Proposed Acquisition Would Have Further Entrenched Tenaris’s Dominance in the Sale of Seamless Steel Pipe to Oil & Gas Companies in the United States
Tenaris, S.A. (...)
The Dutch Competition Authority concludes that a takeover of an undertaking will lead to the creation of a dominant position in the media industry (RTL / Talpa)
ACM: Takeover media company Talpa by RTL leads to dominant position*
The Netherlands Authority for Consumers and Markets (ACM) concludes that the proposed amendments of the transaction between the media companies RTL and Talpa are insufficient to remove the concern that the transaction will (...)
The Canadian Federal Court of Appeal dismisses the Competition Authority’s appeal against a ruling which annulled a merger prohibition in the telecommunications sector (Rogers / Shaw)
Statement from the Commissioner of Competition on the Federal Court of Appeal’s decision regarding the Rogers-Shaw merger*
Matthew Boswell, Commissioner of Competition, issued the following statement about the Federal Court of Appeal’s ruling to dismiss the Competition Bureau’s appeal in the (...)
The Italian Administrative Supreme Court upholds a veto against an acquisition in the agri-food sector and holds that the Prime Minster has a wide margin of discretion in the application of the national foreign direct investment screening mechanism (Verisem / Syngenta / ChemChina)
On 9 January 2023, the Italian highest administrative court (Consiglio di Stato, “COS”), emphatically confirmed that the Italian President of the Council of Ministers (informally also referred to as Prime Minister) enjoys a very wide margin of discretion in the application of the national (...)
The Italian Administrative Supreme Court upholds the Government’s veto of a Chinese multinational’s proposed acquisition of a Dutch seed producer (Verisem / Syngenta / ChemChina)
On January 9, 2023, the Italian Administrative Supreme Court upheld the Italian government’s veto under Italian Foreign Direct Investment (“FDI”) rules of the acquisition of the Dutch agri-food sector company Verisem B.V. and its subsidiaries (including some Italian subsidiaries) by the Swiss (...)
The Irish Competition Authority publishes its annual report on mergers and acquisitions
CCPC publishes Mergers & Acquisitions Report 2022*
The CCPC has published its annual merger report, which includes statistics on the number of mergers and acquisitions notified and decided in 2022.
All mergers and acquisitions which reach certain financial thresholds must be notified (...)
The Canadian Competition Tribunal dismisses the Competition Authority’s challenge over a merger between two of Canada’s four biggest broadband providers (Rogers / Shaw)
Statement from the Commissioner of Competition on the Competition Tribunal’s Information Note regarding the Rogers-Shaw merger*
Matthew Boswell, Commissioner of Competition, issued the following statement regarding the Competition Tribunal’s Information Note indicating it intends to dismiss (...)
The Irish Competition Authority publishes its decision to block the acquisition of a pharmacy solutions business by a healthcare services provider (Uniphar / NaviCorp)
CCPC publishes detailed determination on decision to block Uniphar’s proposed acquisition of NaviCorp*
The Competition and Consumer Protection Commission (CCPC) has published its full determination on the decision to block Uniphar’s proposed acquisition.
Under the terms of the Competition (...)
The US FTC seeks to block a Big Tech company’s acquisition of a video game publisher (Microsoft / Activision Blizzard)
FTC Seeks to Block Microsoft Corp.’s Acquisition of Activision Blizzard, Inc.*
Agency alleges that maker of Xbox would gain control of top video game franchises, enabling it to harm competition in high-performance gaming consoles and subscription services by denying or degrading rivals’ (...)
The EU Commission adopts a Statement of Objections outlining measures to unwind a blocked acquisition of a nascent biotech company by a big biotech firm (Illumina / Grail)
Mergers: The Commission adopts a Statement of Objections outlining measures to unwind Illumina’s blocked acquisition of GRAIL*
The European Commission has sent a Statement of Objections to Illumina and GRAIL informing them of the restorative measures it intends to adopt under the EU Merger (...)
The UK Department for Business, Energy and Industrial Strategy orders a Chinese firm to unwind its acquisition of a Welsh semiconductor wafer factory on national security grounds, reversing its original position (Nexperia / Newport Wafer Fab)
The UK government has exercised its powers under the UK’s national security and investment regime to unwind Chinese-owned Nexperia’s acquisition of Newport Wafer Fab (“NWF”), a semiconductor wafer factory located in Newport, Wales. This is the third prohibition under this (new) regime and the (...)
The UK Competition Authority orders a Big Tech company to sell a GIF database on the belief that permitting the merger would limit innovation and reduce competition in the display advertising market (Meta / Giphy)
CMA orders Meta to sell Giphy*
The CMA finds that Meta’s purchase of Giphy would limit choice for UK social media users and reduce innovation in UK display advertising.
The Competition and Markets Authority (CMA) has found that Meta’s takeover of Giphy could allow Meta to limit other (...)
The Italian Competition Authority blocks a merger between two energy companies due to its expected adverse effect on competition in the energy sector (Enel Produzione / ERG Power)
The Italian Competition Authority has recently closed a II Phase merger control enquiry in Enel Produzione/ERG Power by vetoing a concentration between two energy companies due to the expected adverse effects oncompetition in some electricity markets in the region of Sicily.
The merger (...)
The US DoJ sues to block the $4.3B acquisition of a division of a residential door hardware manufacturer by a rival (ASSA ABLOY / Spectrum)
Justice Department Sues to Block ASSA ABLOY’s Proposed Acquisition of Spectrum Brands’ Hardware and Home Improvement Division*
Proposed Deal Would Combine Two of the Three Largest Competitors in Residential Door Hardware, Further Concentrating U.S. Markets
The U.S. Department of Justice (...)
The US FTC Office of Administrative Law Judges dismisses the Commission’s challenge over the acquisition of a biotech startup by a major biotech company (Illumina / Grail)
Administrative Law Judge Dismisses FTC’s Challenge of Illumina’s Proposed Acquisition of Cancer Detection Test Maker Grail*
Agency Alleged Vertical Merger would Harm Competition in the U.S. Market for Life-Saving Multi-Cancer Early Detection Tests
In an Initial Decision announced on Sept. (...)
The EU Commission prohibits the acquisition of a genetic and genomic analysis provider by a healthcare technology company focused on early cancer detection (Illumina / Grail)
Illumina/Grail Prohibition: The End of the Beginning for EU Review of “Killer Acquisitions”?*
On September 6, 2022, the European Commission (Commission) announced that it had prohibited the acquisition by Illumina Inc., a U.S company supplying sequencing- and array-based solutions for (...)
The EU Commission prohibits the acquisition of a genetic analysis provider by a cancer detection healthcare company (Illumina / Grail)
On 6 September 2022, the European Commission (the Commission ) prohibited the acquisition of cancer detection test start-up Grail by genetic and genomic analysis firm Illumina (see, attached Commission press releases). This decision formed the dramatic culmination of a procedure which the (...)
The EU Commission blocks the acquisition of a genetics analysis provider by a cancer detection healthcare company (Illumina / Grail)
On 6 September 2022 the EU Commission adopted a decision under the EU merger Regulation (EUMR) prohibiting the completed acquisition by Illumina of GRAIL. This is the first time the Commission has examined a transaction below the EUMR thresholds and all national EU Member State thresholds (...)
The EU Commission prohibits the acquisition of a company producing a novel blood testing technology by a large biotech company on the grounds that it would allow the combination to foreclose competition in an innovative and important market (Illumina / Grail)
Mergers: Commission prohibits acquisition of GRAIL by Illumina*
The European Commission has prohibited, under the EU Merger Regulation, the implemented acquisition of GRAIL by Illumina. The merger would have stifled innovation, and reduced choice in the emerging market for blood-based early (...)
The EU Commission blocks an acquisition of a nascent biotech firm which is developing a promising cancer detection technology by a large American biotech company notwithstanding the fact that the transaction fails to reach the requisite merger thresholds (Illumina / Grail)
In a landmark decision announced on September 6, 2022 (“Decision”), the European Commission (“EC”) prohibited the acquisition by Illumina, a U.S. company specialising in genomic sequencing, of GRAIL, a U.S.- based start-up developing early cancer-detection tests (“Transaction”).
The EC (...)
The EU Commission prohibits the acquisition of a nascent biotech firm working on a pioneering technology to detect cancer by blood tests by a major American-based biotech company, despite the fact that the requisite merger thresholds have not been reached (Illumina / Grail)
On September 6, 2022, the European Commission (the “Commission”) blocked the acquisition of Grail by Illumina—although the deal didn’t meet the turnover threshold of the EU or any Member State—arguing that the merger would have prevented innovation and competition in the blood-based early (...)
The EU Commission prohibits a big biotech firm’s completed acquisition of a promising biotech startup developing an early detection cancer test (Illumina / Grail)
On 6 September 2022, the European Commission (“Commission”) announced its decision to prohibit Illumina from acquiring cancer detection test producer Grail, although the parties had already completed the transaction against the Commission’s instructions in August of 2021. Interestingly, this (...)
The Lithuanian Competition Authority prohibits the acquisition of a Lithuanian grain production company by a Latvian grain production company (Baltic Mill / Dobeles dzirnavnieks)
Latvian Firm Dobeles Dzirnavnieks does not receive permission to acquire Lithuanian company Baltic Mill*
Today the Lithuanian competition authority Konkurencijos taryba refused to clear the acquisition of 100 per cent of the shares and sole control of the Lithuanian company Baltic Mill by (...)
The Australian Competition Authority publishes statement of issues which prevents the conclusion of a merger between two investment companies (Palisade Investment / Port of Geelong)
Spirit Super and Palisade Investment Partners Consortium decides not to proceed with Port of Geelong acquisition*
The Spirit Super and Palisade Investment Partners Consortium (the Consortium) has withdrawn its request for merger clearance from the ACCC for its proposed acquisition of the (...)
The UK Competition Authority requires the largest provider of property search services to sell its recently acquired competitor (Dye & Durham / TM Group)
CMA requires Dye & Durham to sell TM Group*
The CMA has concluded that Dye & Durham must sell TM Group after its in-depth investigation identified competition concerns.
Following a Phase 2 merger investigation, the CMA has found that the acquisition of TM Group by Dye & Durham (...)
The US FTC seeks to block a Big Tech company’s acquisition of a popular virtual reality fitness app (Meta / Within)
FTC Seeks to Block Virtual Reality Giant Meta’s Acquisition of Popular App Creator Within*
Agency Alleges that Meta and CEO Mark Zuckerberg are Attempting Illegal Acquisition to Expand Virtual Reality Empire
The Federal Trade Commission is seeking to block virtual reality giant Meta and (...)
The US DoJ sues to block an acquisition transaction between two national security companies (Booz Allen Hamilton / EverWatch)
Acquisition Would Eliminate Competition Between the Only Two Competitors for Critical National Security Support Services*
Acquisition Would Eliminate Competition Between the Only Two Competitors for Critical National Security Support Services
The Department of Justice filed a civil (...)
The EU General Court upholds the decision of the Commission to block a joint venture between two large steel producers (ThyssenKrupp / Tata Steel)
This article has been nominated for the 2023 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards.
On 22 June 2022, the EU’s General Court (“GC”) fully dismissed thyssenkrupp’s appeal against the European Commission’s (“Commission”) decision to block its (...)
The EU General Court upholds the Commission’s decision prohibiting the proposed merger between two steel producers (Thyssenkrupp / Tata Steel)
The General Court upholds the Commission’s decision prohibiting the proposed merger between thyssenkrupp and Tata Steel *
Thyssenkrupp, a German industrial group, and Tata Steel, a company whose registered office is in India, are active, inter alia, in the manufacturing and supply of flat (...)
The Australian Competition Authority opposes the acquisition transaction between two companies in the conveyancing sector for giving rise to competition concerns through vertical integration (Dye & Durham / Link)
Dye & Durham’s proposed acquisition of Link raises preliminary competition concerns*
The ACCC has outlined significant preliminary competition concerns with Dye & Durham’s (D&D) proposed acquisition of Link Administration Holdings (ASX:LNK) in a statement of issues published (...)
The Saudi Arabian Competition Authority blocks a partial vertical acquisition between the national gas distribution company and a gas transporter (GASCO / Best Gas)
On 16 June 2022, Saudi Arabia’s General Authority for Competition announced its decision to block National Gas and Industrialization Company from acquiring a majority stake in Best Gas Carrier on the basis of vertical competition concerns. This is the first vertical merger prohibited by the (...)
The Lithuanian Competition Authority decides that a merger between online ticket distribution platforms restricted competition (Piletilevi Group / Tiketa)
MERGER BETWEEN PILETILEVI GROUP AND TIKETA RESTRICTED COMPETITION*
Today the Lithuanian competition authority Konkurencijos taryba has refused to clear the merger whereby the Estonian company Piletilevi Group acquired 100 per cent of the shares and sole control of the Lithuanian ticket (...)
The US FTC seeks to block a merger between two local hospitals which would give the combined entity a local market share of over 50% in some services (RWJ Barnabas Health / Saint Peter’s)
FTC Sues to Block Merger Between New Jersey Healthcare Rivals RWJBarnabas Health and Saint Peter’s Healthcare System*
Agency Alleges that Deal Would Increase Prices and Reduce Quality of Care for Patients by Eliminating Head-to-Head Competition
The Federal Trade Commission authorized an (...)
The US FTC files a lawsuit seeking to prevent a merger between two healthcare providers which service over 80% of Utah’s residents, finding that the merger would result in elimination of a low-cost provider (HCA Healthcare / Steward Health Care System)
The Federal Trade Commission has authorized an administrative complaint and a lawsuit in federal court to block the proposed merger between Utah healthcare competitors HCA Healthcare and Steward Health Care System. The agency alleges that the deal would eliminate the second and fourth largest (...)
The UK Competition Authority orders a provider of helicopter transport to North Sea oil rigs to unwind the acquisition of one of its three rivals (CHC / Babcock)
CMA requires CHC to unwind helicopter services deal*
CHC must unwind its completed acquisition of Babcock’s oil and gas offshore helicopter services to address competition concerns.
This decision by the Competition and Markets Authority (CMA) follows an in-depth Phase 2 investigation into (...)
The UK Competition Authority finds that a merger between two waste and water management firms may lead to reduced competition following in-depth investigation (Veolia / Suez)
In-depth Veolia-Suez merger review finds competition concerns*
The CMA has provisionally found that the merger of Veolia and Suez would lead to a loss of competition in the supply of several waste and water management services in the UK.
This loss of competition could then lead to more (...)
The UK Competition Authority blocks the acquisition of a rival by a property search report company (Dye & Durham / TM Group)
Property search services merger could mean homebuyers pay more*
The CMA has provisionally found that the merger of 2 firms offering property search services could lead to a worse deal for homebuyers.
Following an in-depth Phase 2 investigation, the Competition and Markets Authority (CMA) (...)
The Polish Court of Competition and Consumer Protection overturns the Competition Authority’s decision prohibiting the acquisition of a radio broadcasting station by a competitor (Agora / Eurozet)
Agora/Eurozet - judgment of the court of first instance* The President of UOKiK will appeal against the judgment of the Court of Competition and Consumer Protection (SOKiK) in the Agora-Eurozet concentration case. SOKiK reversed the decision prohibiting the transaction.
The judgment relates (...)
The Canadian Competition Authority files court applications to prevent a merger between two telecommunications companies (Rogers / Shaw)
Competition Bureau seeks full block of Rogers’ proposed acquisition of Shaw*
Bureau files court applications to prevent the merger of two of Canada’s largest telecommunications companies
The Competition Bureau is seeking to block Rogers proposed $26 billion acquisition of Shaw in an effort (...)
The French Competition Authority fines a wine and spirits company €7M for gun jumping (Cofepp / Marie Brizard Wine & Spirits)
By a decision dated 12 April 2022, the French Competition Authority (FCA) fined the Compagnie Financière Européenne de Prises de Participation (“Cofepp”) up to 7 million euros, for having closed the takeover of the company Marie Brizard Wine & Spirits (i) without first notifying the (...)
The UK Competition Authority blocks the merger of two companies offering container handling equipment and services to port terminals following a phase II investigation (Cargotec / Konecranes)
Introduction
On 29 March 2022, the UK Competition and Markets Authority (“CMA”) announced that – following an in-depth, Phase 2 investigation – it had prohibited the proposed merger between Cargotec and Konecranes. The CMA noted that it was not satisfied with the remedies package proposed by (...)
The UK Competition Authority blocks the proposed merger between two industrials after its in-depth investigation identified substantial competition concerns (Cargotec / Konecranes)
CMA blocks planned Cargotec / Konecranes merger*
The CMA has blocked the proposed merger between Cargotec and Konecranes after its in-depth investigation identified substantial competition concerns.
Cargotec and Konecranes both offer a range of container handling equipment and services to (...)
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)
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 Court of Appeals for the Third Circuit upholds a District Court decision granting a preliminary injunction against an acquisition in the health sector (Hackensack Meridian / Englewood Healthcare)
On March 22, 2022, the Third Circuit upheld a district court decision granting a preliminary injunction against Hackensack Meridian Health’s plan to acquire Englewood Healthcare, pending the outcome of an administrative trial by the Federal Trade Commission. The decision aligns with the FTC’s (...)
The US FTC publishes a statement on the Federal Appeals Court ruling affirming a preliminary injunction to halt the merger of New Jersey hospital networks (Hackensack Meridian / Englewood Healthcare)
Statement of Federal Trade Commission Bureau of Competition Deputy Director John M. Newman on Federal Appeals Court Ruling Affirming Preliminary Injunction to Halt Merger of New Jersey Hospital Networks*
Federal Trade Commission Bureau of Competition Deputy Director John M. Newman issued (...)
The US DoJ sues to block the acquisition that would combine the 2 largest producers of pebbled FRP wall panels (Verzatec / Crane)
Justice Department Sues to Block Verzatec’s Proposed Acquisition of Crane*
Acquisition Would Combine the Two Largest Producers of Pebbled FRP Wall Panels, Allowing Verzatec to Eliminate its Rival, Monopolize the Market and Harm American Businesses
The Department of Justice filed a civil (...)
The Norwegian Competition Tribunal repeals the Competition Authority’s block on a merger between two mutual fund companies (DNB / Sbanken)
The Competition Appeals Tribunal repeals the Norwegian Competition Authority’s block of DNB’s acquisition of Sbanken*
The Competition Appeals Tribunal today repealed the Norwegian Competition Authority’s decision against DNB’s acquisition of Sbanken. – We will now take a careful look at (...)
The US DoJ and FTC extend the deadline for public comment on ways to strengthen enforcement against illegal mergers
Justice Department and FTC Extend Deadline for Public Comment on Ways to Strengthen Enforcement Against Illegal Mergers*
Today, the Department of Justice and Federal Trade Commission (FTC) are extending by one month the deadline to submit comments as part of the enforcement agencies’ process (...)
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)
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 US FTC publishes a statement regarding the termination of an attempted merger of two healthcare providers (Lifespan / Care New England)
Statement Regarding Termination of Attempted Merger of Rhode Island’s Two Largest Healthcare Providers*
In response to the announcement that Lifespan Corp. (“Lifespan”) and Care New England Health System (“Care New England”) have terminated their proposed merger, FTC Bureau of Competition (...)
The EU General Court dismisses a damages action for €1.74B brought by a courier delivery services company against the Commission for the losses and costs resulting from the annulment of a merger prohibition decision (UPS / TNT)
On 23 February 2022, the General Court dismissed UPS’s damages action for EUR 1.74 billion against the European Commission for the losses and costs resulting from the annulment of the UPS/TNT merger prohibition decision.
Key takeaways Annulment of a merger prohibition decision will not (...)
The EU General Court dismisses a €1.7B claim for damages brought by a courier delivery services company in which it sought compensation for losses resulting from the Commission’s decision to block a merger with its rival (UPS / TNT)
On 23 February 2022, the EU’s General Court (GC) dismissed a €1.7 billion claim for damages brought by United Parcel Service Inc. (UPS) against the European Commission (EC). UPS sought compensation for the losses resulting from the EC’s decision to block UPS’ merger with TNT NV (TNT). The GC, (...)
The EU Commission finds that Hungary has violated EU merger rules by vetoing an insurance company for the acquisition of a subsidiary (AEGON / Vienna Insurance)
On 21 February 2022, the European Commission (“Commission”) adopted a decision finding that Hungary had violated Article 21 of the EU Merger Regulation (“EUMR”) by vetoing the Vienna Insurance Group AG Wiener Versicherung Gruppe’s (“VIG”) acquisition of AGEON’s Hungarian subsidiary.
In July (...)
The EU Commission blocks Hungary’s attempt to veto a transaction in the insurance sector under FDI rules (AEGON / Vienna Insurance)
In Short
The Situation: The European Commission ("EC") issued its first decision ("Decision") regarding the intersection of EU merger control rules and the recent growth in national Foreign Direct Investment ("FDI") regimes. The EC found that the Hungarian government’s decision to block a (...)
The EU Commission finds that Hungary’s veto over the acquisition of an insurance company’s subsidiaries by an Austrian operator breached Article 21 of the EU Merger Regulation (AEGON / Vienna Insurance)
Mergers: Commission finds that Hungary’s veto over the acquisition of AEGON’s Hungarian subsidiaries by VIG breached Article 21 of the EU Merger Regulation*
The European Commission has concluded that Hungary’s decision to veto the acquisition of the Hungarian subsidiaries of the AEGON Group (...)
The EU Commission finds that Hungary’s decision to block a merger between two insurance firms breached EU law because the Commission has exclusive competence to assess mergers with a Union dimension (AEGON / Vienna Insurance)
Mergers: Commission finds that Hungary’s veto over the acquisition of AEGON’s Hungarian subsidiaries by VIG breached Article 21 of the EU Merger Regulation*
The European Commission has concluded that Hungary’s decision to veto the acquisition of the Hungarian subsidiaries of the AEGON Group (...)
The Hungarian Government withdraws veto over acquisition of a national insurer by an Austrian rival (AGEON / Vienna Insurance Group)
Hungary has withdrawn a 2021 veto against the acquisition of AGEON’s Hungarian subsidiary by Vienna Insurance Group AG (“VIG”). The veto was issued by the Ministry of the Interior under national emergency FDI legislation introduced to address the COVID-19 pandemic while the European (...)
The US FTC authorises an administrative complaint to block the proposed merger of Rhode Island’s two largest healthcare providers alleging that the deal would lead to higher prices and lower quality care (Lifespan / Care New England Health System)
FTC and Rhode Island Attorney General Step in to Block Merger of Rhode Island’s Two Largest Healthcare Providers*
FTC alleges that anticompetitive deal likely to increase price and reduce quality of care for patients
The Federal Trade Commission has authorized an administrative (...)
The US FTC issues a statement following the termination of a proposed acquisition of a company in the missile propulsion inputs market (Lockheed Martin / Aerojet Rocketdyne)
Statement Regarding Termination of Lockheed Martin Corporation’s Attempted Acquisition of Aerojet Rocketdyne Holdings Inc.*
In response to the announcement that Lockheed Martin Corporation has terminated its proposed acquisition of Aerojet Rocketdyne Holdings Inc., FTC Bureau of Competition (...)
The New Zealand Competition Authority files proceedings against a software company for continuing with a merger thought likely to be substantially lessening competition (Objective Corporation / Master Business Systems)
Commission files proceedings against software company for breach of Commerce Act*
The Commerce Commission has filed proceedings in the High Court in Wellington against software company Objective Corporation Limited (Objective) for contravening section 47 of the Commerce Act, which prohibits (...)
The US FTC and DoJ announce plans to review and update merger guidelines in order to strengthen enforcement against illegal mergers
On Tuesday, January 18th, FTC Chair Lina Khan and DOJ Antitrust Division Assistant Attorney General Jonathan Kanter held a joint press conference in which they announced ambitious plans to review and update the Merger Guidelines, targeting a release of new guidelines before the end of 2022. (...)
The US FTC and DoJ launch a joint public inquiry into the agencies’ horizontal and vertical merger guidelines to decipher whether the guidelines properly implement the statutory ban on transactions that may substantially lessen competition or tend to create a monopoly
Tuesday, January 18th, the Federal Trade Commission (“FTC”) and the U.S. Justice Department’s Antitrust Division (“DOJ”) launched a joint public inquiry regarding the agencies’ horizontal and vertical merger guidelines. As part of this inquiry, the agencies are soliciting public comment via a (...)
The US DoJ and FTC announce a joint effort to modernize the horizontal and vertical federal merger guidelines
On 18 January 2022 the Department of Justice (DOJ) and Federal Trade Commission (FTC) held a press conference to announce a joint effort to modernize the horizontal and vertical federal merger guidelines “to better detect and prevent illegal, anticompetitive deals in today’s modern markets.” (...)
The US FTC and DoJ announce a joint public inquiry related to the federal merger guidelines with the goal of strengthening enforcement against illegal mergers
On Jan. 18, 2022, the Federal Trade Commission (FTC) and the Department of Justice’s (DOJ) Antitrust Division announced a joint public inquiry related to the federal merger guidelines, with the goal of “strengthening enforcement against illegal mergers.” Members of the public are encouraged to (...)
The US FTC and DoJ announce a joint initiative to conduct a comprehensive analysis of their merger guidelines
On Jan. 18, 2022, the Federal Trade Commission and Department of Justice announced a joint initiative to conduct a comprehensive analysis of their merger guidelines. The initiative is likely to further ratchet up merger enforcement with the most significant impact on digital mergers, mergers (...)
The German Competition Authority prohibits a merger in the surface drainage sector (ACO / BIRCO)
Bundeskartellamt prohibits merger in the surface drainage sector: ACO and BIRCO cannot merge*
The Bundeskartellamt has prohibited the planned takeover of BIRCO GmbH based in Baden-Baden (“BIRCO“) by ACO Ahlmann SE & Co. KG based in Büdelsdorf (“ACO“). Both companies are particularly (...)
The EU Commission prohibits a merger between two South Korean shipbuilders as it would have created a dominant position for the newly merged company and reduced competition in the worldwide market for the construction of large liquefied gas carriers (DSME / HHIH)
Mergers: Commission prohibits proposed acquisition of Daewoo Shipbuilding & Marine Engineering by Hyundai Heavy Industries Holdings*
The European Commission has prohibited, under the EU Merger Regulation, the acquisition of Daewoo Shipbuilding & Marine Engineering CO., Ltd (DSME) by (...)
The EU Commission prohibits the proposed merger between two shipbuilding companies (Hyundai Heavy Industries / Daewoo Shipbuilding & Marine Engineering)
On 13 January 2022, the European Commission (“Commission”) announced its decision to prohibit Hyundai Heavy Industries Holdings’ (“HHIH”) acquisition of rival Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co., Ltd (“DSME”). The Commission was concerned that the transaction (...)
The Dutch Competition Authority blocks the merger between two healthcare service providers due to threat of anticompetitive effects (Mautitskliniek / Bergman Clinics)
ACM blocks acquisition of Maritskliniek by Bergman Clinics*
After a thorough investigation, the Netherlands Authority for Consumers and Markets (ACM) has decided to block the planned acquisition of Dutch health care provider Mauritskliniek by rival provider Bergman Clinics. ACM has concluded (...)
The Dutch Competition Authority blocks a merger between two ambulatory infusion pump manufacturers (Eurocept Homecare / Mediq)
ACM blocks acquisition of Eurocept Homecare by Mediq*
ACM blocks acquisition of Eurocept Homecare by Mediq The Netherlands Authority for Consumers and Markets (ACM) has blocked the acquisition of Eurocept Homecare by Mediq. ACM has come to the conclusion that, through the acquisition, Mediq (...)
The Saudi Arabian Competition Authority announces, following the adoption of the new Merger Review Guidelines, that it has blocked its first deal between two online food-delivery services due to their failure to provide sufficient information to enable the evaluation of the proposed acquisition (Delivery Hero / The Chefz)
This article has been nominated for the 2023 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards.
The Kingdom of Saudi Arabia’s General Authority for Competition (the “GAC”) has been ramping up its merger control activities and recently—at least (...)
The US FTC issues a statement following the termination of a proposed merger which would have combined two close retail competitors selling hunting, shooting, fishing, camping, and other outdoor gear (Great Outdoors / Sportsman’s Warehouse)
Expected Federal Trade Commission Opposition to Transaction Leads Great Outdoors Group, LLC and Rival Sportsman’s Warehouse Holdings, Inc. to Abandon Plans for Proposed Merger*
Federal Trade Commission Bureau of Competition Director Holly Vedova issued the following statement regarding the (...)
The US FTC sues to block a $40 billion merger between a chip supplier and a chip design provider (Nvidia / Arm)
FTC Sues to Block $40 Billion Semiconductor Chip Merger*
Vertical deal between chip supplier Nvidia and chip design provider Arm would allow combined firm to stifle competing next-generation technologies
The Federal Trade Commission today sued to block U.S. chip supplier Nvidia Corp.’s $40 (...)
The US FTC sues to block a $40 billion merger between a leading computing company and a vertically relevant semiconductor company (Nvidia / Arm)
FTC Seeks to Maintain the Neutrality of the “Switzerland” of the Computing Industry by Suing to Block Nvidia’s Deal to Buy Arm
The Federal Trade Commission launched a battle to preserve competition in multiple computing markets last week with the filing of a complaint seeking to block Nvidia (...)
The UK Competition Authority requires a Big Tech company to sell a GIF creation platform it acquired after finding that the deal could harm social media users and national advertisers (Meta / Giphy)
CMA directs Facebook to sell Giphy*
The CMA requires Facebook (which has recently renamed itself ‘Meta’) to sell Giphy, after finding that the deal could harm social media users and UK advertisers.
In line with its Phase 2 provisional findings issued in August, the Competition and Markets (...)
The US DoJ launches 3 antitrust enforcement actions against companies in the airline, publishing and sugar industries (American Airlines / JetBlue / Penguin Random House / Simon & Schuster / U.S. Sugar / Imperial Sugar)
Meanwhile, the DOJ Antitrust Division Launches Merger Challenges in the Airline, Publishing, and Sugar Industries*
As we have reported numerous times (most recently here), the Federal Trade Commission has been making headlines with some controversial changes to U.S. merger review procedures, (...)
The US DoJ prohibits the merger between two national sugar producers (U.S. Sugar / Imperial Sugar)
Justice Department Sues to Block U.S. Sugar’s Proposed Acquisition of Imperial Sugar*
Acquisition Would Eliminate Significant Refined Sugar Producer in the Southeastern United States
The Department of Justice filed a civil antitrust lawsuit today to stop United States Sugar Corporation (...)
The UK Competition Authority publishes its final remittal report deciding to block a completed acquisition by sports-inspired casual footwear and apparel retailer of its rival (JD Sports / Footasylum)
On 5 November 2021, the UK’s Competition and Markets Authority (“CMA”) published its final remittal report into the completed acquisition by sports-inspired casual footwear and apparel retailer JD Sports (“JD”) of rival Footasylum, deciding (once again) to block the transaction. This is the (...)
The UK Competition Authority orders a sneaker and apparel retailer to sell its acquired rival, following an in-depth investigation into the completed transaction (JD Sports / Footasylum)
CMA requires JD Sports to sell Footasylum*
The CMA has instructed JD Sports to sell Footasylum after its in-depth investigation identified competition concerns.
The Competition and Markets Authority (CMA) has found that the takeover could lead to a substantial reduction in competition and (...)
The US DoJ blocks the merger between two major international book publishers (Penguin Random House / Simon & Schuster)
Will the Next Chapter in DOJ’s Showdown With Book Publishers Rewrite the Book on Antitrust Merger Enforcement?*
Federal antitrust enforcers hope to write a new chapter on merger enforcement this year as they face off against leading publishers.
One of the major antitrust developments last (...)
The US DoJ files a civil antitrust lawsuit seeking to block the merger of two of the "Big 5" publishers (Penguin Random House / Simon & Schuster)
DOJ Seeks to Close the Book on Penguin Random House’s Acquisition of Simon & Schuster*
On November 2, the U.S. Department of Justice (“DOJ”) once again demonstrated its renewed resolve to block anticompetitive concentrations by filing a civil antitrust lawsuit seeking to block Penguin (...)
The US DoJ prohibits a merger between two competing national publishing companies (Penguin Random House / Simon & Schuster)
Justice Department Sues to Block Penguin Random House’s Acquisition of Rival Publisher Simon & Schuster*
Merger Would Create Publishing Behemoth, Harming Authors and Consumers
The U.S. Department of Justice filed a civil antitrust lawsuit today to block Penguin Random House’s proposed (...)
The US FTC announces the return of its long-established practice of restricting future acquisitions for firms that pursue anticompetitive mergers
FTC to Restrict Future Acquisitions for Firms that Pursue Anticompetitive Mergers*
Proposed Order marks first use of prior approval authority under new policy statement confirming that prior approval is once again standard practice
The Federal Trade Commission announced that it is (...)
The Lithuanian Competition Authority terminates the review of a merger between two Estonian companies in the cinema market since it did not receive all the necessary information from the merging parties within the maximum suspension period (MM Grupp / Forum Cinemas Lithuania)
Lithuanian Competition Authority terminates merger review process in cinema market*
The Lithuanian competition authority Konkurencijos taryba has terminated the review of a merger notification under which the Estonian company MM Grupp intended to acquire another Estonian company Forum (...)
The Lithuanian Competition Authority fines the national telecommunications service provider €215.1K for submitting incorrect and incomplete information which impeded the assessment of a merger’s potential impact on competition (Cgates)
CGATES FINED FOR SUBMITTING INCORRECT AND INCOMPLETE INFORMATION IN MERGER REVIEW PROCESS*
The Lithuanian competition authority Konkurencijos taryba found that information provided by the Lithuanian telecommunications service provider Cgates, which was necessary for the authority to be able (...)
The Australian Competition Authority seeks an urgent injunction to halt a health facility’s acquisition of several national fertility clinics (Virtus / Adora fertility clinics)
ACCC seeks urgent injunction to halt Virtus acquiring Adora fertility clinics*
The ACCC has filed proceedings in the Federal Court seeking an urgent injunction to stop the proposed completion of Virtus Health’s acquisition of Adora Fertility from Healius Limited.
Virtus and Adora are (...)
The Russian Competition Authority prohibits a merger between two real estate companies (Avito / Cian)
FAS Russia refused Avito to purchase Ciam*
The merger of companies may lead to limited competition in the market
The FAS Russia has received an application of Avito Holding LLC for the acquisition of rights that allow determining the conditions for the implementation of entrepreneurial (...)
The Canadian Competition Authority obtains court orders obliging companies to communicate information related to the provision of waste disposal services for its challenge of a merger between suppliers of oil and gas waste services (Secure / Tervita)
Competition Bureau obtains court orders related to its challenge of Secure’s acquisition of Tervita*
The Competition Bureau has obtained court orders to further inform its challenge of Secure Energy Services Inc.’s acquisition of Tervita Corporation before the Competition Tribunal.
The (...)
The German Competition Authority prohibits the complete acquisition of the publishing companies of the daily newspaper by media company publishing a competing newspaper (Ostthüringer / Funke)
Bundeskartellamt prohibits complete acquisition of publisher of “Ostthüringer Zeitung” by Funke-Mediengruppe*
The Bundeskartellamt has prohibited a company of Funke Mediengruppe from acquiring the sole control of the publishing companies of the daily newspaper “Ostthüringer Zeitung”. Funke (...)
The German Higher Regional Court of Düsseldorf overturns the Competition Authority’s decision to clear a joint venture between a telecommunications company and a regional utility provider (Telekom Deutschland / EWE)
Last week the Higher Regional Court of Düsseldorf overturned a decision adopted by the German Federal Cartel Office (FCO) clearing a JV between Telekom Deutschland and EWE, a regional utility company. The JV partners were looking to cooperate in the development of fibre-optic networks in parts (...)
The US DoJ sues to block unprecedented alliance between two airline companies (American Airlines / JetBlue)
Justice Department Sues to Block Unprecedented Domestic Alliance Between American Airlines and JetBlue*
Alliance Eliminates Competition in New York and Boston and Harms Air Travelers Nationwide
The U.S. Department of Justice, together with Attorneys General in six states and the District (...)
The US FTC withdraws vertical merger guidelines to prevent industrial and judicial reliance on unsound economic theories
Federal Trade Commission Withdraws Vertical Merger Guidelines and Commentary*
2020 guidance withdrawn to prevent industry and judicial reliance on unsound economic theories; FTC to work with DOJ to update merger guidance
The Federal Trade Commission voted to withdraw its approval of the (...)
The US FTC initiates proceedings against two hospitals to prevent their proposed merger (Hackensack Meridian Health / Englewood Healthcare)
On 4 August 2021, the District Court of New Jersey granted the Federal Trade Commission’s (FTC) motion for preliminary injunction, preventing Hackensack Meridian Health (HMH) and Englewood Healthcare (Englewood) from closing their proposed merger pending an administrative trial before an FTC (...)
The US AG Merrick Garland gives a statement on the decision to terminate the planned $30 billion merger of the second and third largest insurance brokers in the world (Aon / Willis Tower Watson)
Attorney General Merrick B. Garland’s Statement on Aon and Willis Towers Watson Decision to Terminate Merger Agreement*
Decision Follows DOJ Lawsuit to Prevent Harmful Consolidation and Preserve Competition
Attorney General Merrick B. Garland today released the following statement on Aon (...)
The US FTC rescinds the 1995 policy statement that limited its ability to deter problematic mergers
FTC Rescinds 1995 Policy Statement that Limited the Agency’s Ability to Deter Problematic Mergers*
Eliminating the policy statement restores a valuable tool to stop illegal mergers
The Federal Trade Commission voted in an open Commission meeting to rescind a 1995 policy statement that made (...)
The Canadian Competition Authority challenges a proposed merger between two Western Canadian oil and gas waste service providers (Secure Energy / Tervita)
Competition Bureau challenges proposed merger of rival oil and gas waste service providers Secure and Tervita*
The Competition Bureau is seeking to block Secure Energy Services Inc.’s proposed acquisition of Tervita Corporation to protect competition for customers of oil and gas waste (...)
The Lithuanian Competition Authority refuses to clear the acquisition of sole control of a TV and internet service provider by its competitor despite the commitment offered by the merging parties (Cgates / Splius)
CGATES does not get permission to acquire its competitor Splius*
The Lithuanian competition authority Konkurencijos taryba refused to clear the acquisition of 100 per cent of the shares and sole control of SPLIUS by Cgates.
On 11 December 2020, Konkurencijos taryba received a merger (...)
The US DoJ sues to prohibit the merger between two insurance companies (Aon / Willis Tower Watson)
Justice Department Sues to Block Aon’s Acquisition of Willis Towers Watson*
Acquisition Would Create Broking Behemoth and Eliminate Competition Between Two of the “Big Three” Insurance Brokers
The U.S. Department of Justice filed a civil antitrust lawsuit today to block Aon’s $30 billion (...)
The South African Competition Authority prohibits a merger in the fast-food market purely on public interest grounds (Burger King)
Precedent-Setting Decision: Burger King Acquisition Prohibited Purely on Public Interest Grounds*
The South African Competition Commission (SACC) made headlines with its first prohibition of an intermediate merger that was based solely on public-interest grounds.
Emerging Capital Partners (...)
The Norwegian Competition Tribunal upholds the Competition Authority’s decision to block a merger between two media companies (Schibsted / Nettbil)
Competition Tribunal upholds decision to block Schibsted’s acquisition of Nettbil*
The Competition Tribunal agrees with the Norwegian Competition Authority that Schibsted’s acquisition of Nettbil should be prohibited.
Schibsted ASA and Nettbil AS operate competing digital marketplaces for (...)
The UK Competition Appeal Tribunal releases a judgment confirming the Competition Authority’s decision to block the merger between two software suppliers (Sabre / Farelogix)
CMA welcomes Tribunal judgment in Sabre case*
The CMA welcomes today’s Competition Appeal Tribunal judgment, dismissing Sabre’s challenge of the CMA’s decision to block its proposed acquisition of Farelogix.
Photograph of an airplane in the sky. Today’s judgment endorses the Competition (...)
The UK Competition Appeal Tribunal hands down a judgment dismissing a software supplier’s application for review of the Competition Authority’s decision to prohibit a merger (Sabre / Farelogix)
On 21 May 2021, the Competition Appeal Tribunal ("CAT") handed down a judgment dismissing Sabre’s application for review of the Competition and Markets Authority ("CMA") decision to prohibit the Sabre/Farelogix merger. Sabre had challenged the CMA’s jurisdiction to review the merger, which it (...)
The UK Competition Authority welcomes the Court of Appeal’s decision to dismiss a Big Tech company’s grounds of appeal regarding how companies engage with the Authority (Facebook / Giphy)
CMA welcomes Court judgment in Facebook and Giphy case*
The CMA has today welcomed the Court of Appeal’s decision to dismiss all 4 of Facebook’s grounds of appeal in a key case on how companies engage with the CMA.
The Court of Appeal criticised Facebook’s conduct, saying the “central (...)
The French Competition Authority prohibits the acquisition of a pipeline network operator that supplies refined oil products in the south-east of France (Pipeline Méditerranée-Rhône / Ardian)
On 12 May 2021, the French Competition Authority ("FCA") prohibited the acquisition of sole control of the company owning and managing a pipeline network which supplies refined oil products in the south-east of France. It is only the second prohibition decision since the creation of the FCA. (...)
The French Competition Authority blocks the takeover in the pipeline transportation sector (Pipeline Méditerranée-Rhône / Ardian)
Hydrocarbon transport by pipeline: the Autorité blocks the takeover of Société du Pipeline Méditerranée-Rhône (SPMR) by Ardian group*
Background
The Ardian group, which is notably active in the transport, telecommunications and renewable energy sectors, has notified the Autorité of its (...)
The US FTC challenges the merger between a pharmaceutical company and a cancer detection test manufacturer (Illumina / Grail)
FTC Challenges Illumina’s Proposed Acquisition of Cancer Detection Test Maker Grail*
Agency alleges vertical merger would harm competition in the U.S. market for life-saving Multi-Cancer Early Detection tests
The Federal Trade Commission has filed an administrative complaint (a public (...)
The UK Competition Authority finds competition concerns in a merger between the two largest equity crowdfunding platforms (Crowdcube / Seedrs)
CMA finds competition concerns in Crowdcube and Seedrs merger*
Following an in-depth investigation, the CMA has provisionally found that the proposed merger between Crowdcube and Seedrs will reduce competition and innovation.
Crowdcube and Seedrs are the 2 largest equity crowdfunding (...)
The UK Competition Authority provisionally blocks a merger between equity crowdfunding platforms leading them to abandon the transaction (Crowdcube / Seedrs)
Crowdcube and Seedrs abandon merger during CMA investigation*
Crowdcube and Seedrs have abandoned their proposed tie-up after the CMA provisionally blocked the deal.
The Competition and Markets Authority (CMA) therefore intends to cancel its investigation into the potential competition (...)
The Belgian Government adopts a bill to exclude clinical networking between hospitals from the application of merger control
On 18 March 2021, the federal Chamber of Representatives adopted a bill seeking to exclude the creation of local hospital networks (locoregionaal ziekenhuisnetwerk / réseau hospitalier locorégional) and any subsequent change in their composition from the application of the Belgian merger (...)
The Chinese State Administration for Market Regulation fines ten tech giants for failure to notify economic concentrations under the applicable merger control rules (Alibaba / Tencent / Suning...)
China’s antitrust enforcer imposes record fines on tech giants for failure to notify their concentrations*
On 12 March 2021, the State Administration for Market Regulation (SAMR), China’s competition authority responsible for the enforcement of the Anti-Monopoly Law (AML), has announced ten (...)
The Norwegian Competition Authority investigates a merger in the market for the sale of spirits (Altia / Arcus)
Objection against the merger between Altia and Arcus*
The Norwegian Competition Authority is considering intervening against the merger between Altia Plc. and Arcus ASA. The Authority’s preliminary view is that the merger may weaken competition in several markets for the sale of spirits to (...)
The UK Competition Authority requires companies to sell GPS tracking device in order to protect competition in the commercial vehicle and trailer parts sector (TVS Europe Distribution / 3G)
CMA breaks up motor parts merger*
The CMA will require TVS Europe Distribution to sell 3G in order to protect competition in the commercial vehicle and trailer parts sector.
Following an in-depth Phase 2 investigation, the Competition and Markets Authority (CMA) has concluded that TVS (...)
The UK Competition Authority prohibits a transaction following an in-depth phase 2 investigation ruling that only full divestiture would address competition concerns in the commercial vehicle and trailer parts sector (TVS Europe Distribution / 3G)
On 12 January 2021, the CMA ordered TVS Europe Distribution Limited ("TVS") to divest its ownership of 3G Truck and Trailer Parts Limited ("3G"). After conducting a Phase 2 merger inquiry, the Competition and Markets Authority ("CMA") ruled that only full divestiture would address its (...)
The UK Competition Authority breaks up vehicle and trailer parts merger (TVS Europe Distribution / 3G)
On 12 January 2021, the UK’s Competition and Markets Authority (“CMA”) ordered the commercial vehicle and trailer supplier Universal Components UK (which is owned by TVS Europe Distribution) to sell 3G Truck & Trailer Parts, following an in-depth Phase 2 investigation into the completed (...)
The Polish Competition Authority prohibits the acquisition of a radio broadcaster by a national media company (Eurozet / Agora)
Agora/Eurozet - prohibition of concentration* President of UOKiK Tomasz Chróstny has prohibited the acquisition of Eurozet by Agora. The concentration would have resulted in the development of a powerful radio group that would be able to limit competition on the market for radio advertising (...)
The Polish Competition Authority blocks an acquisition between two media groups (Eurozet / Agora)
Following more than a one-year phase II investigation, in January 2021, the Polish Competition Authority (“UOKiK”) announced that it blocked the acquisition of Eurozet by Agora.
Parties to the blocked acquisition
Both Eurozet and Agora are present in the radio broadcasting and related (...)
The Finnish Competition Authority secures its second merger block in 2020 as a €360 million healthcare deal is abandoned during the Market Court proceeding (Mehiläinen / Pihlajalinna)
An exceptional year in Finnish merger control came to an end on 29 December 2020 when the Finnish Market Court announced its decision concerning the Finnish Competition Authority’s (the FCCA) proposal to prohibit the merger between healthcare firms Mehiläinen and Pihlajalinna. After the oral (...)
The Australian Competition Authority rejects a Big Tech company’s behavioral remedies for the acquisition of a wellness and healthcare device manufacturer (Fitbit / Google)
ACCC rejects Google behavioural undertakings for Fitbit acquisition*
The ACCC has announced that it will not accept a long-term behavioural undertaking offered by Google that sought to address competition concerns about its proposed acquisition of wearables supplier and manufacturer Fitbit. (...)
The French Government extends COVID-19 interim rules on foreign investments and rejects an American industrial conglomerate’s acquisition of national optronic technologies firm (Photonis / Teledyne)
France Extends COVID-19 Interim Rules on Foreign Investments and Vetoes Teledyne’s Acquisition of Photonis*
On December 18, 2020, French Minister for the Economy (MoE) Bruno Lemaire announced that the COVID-19 interim rules on foreign investment control (interim rules) — which were issued on (...)
The French Government rejects an American industrial conglomerate’s acquisition of a national optronic technologies firm (Photonis / Teledyne)
French veto to the acquisition of Photonis par Teledyne*
Applying legislative and regulatory measures to control foreign investments in France, the French Government has banned the American Teledyne from buying French Photonis.
1. France established a scheme for controlling investments (...)
The US FTC approves a final order settling charges that the acquisition by a medical device company of its competitor would violate federal antitrust law (Stryker / Wright Medical Group)
FTC Approves Final Order Imposing Conditions on Stryker Corp.’s Acquisition of Wright Medical Group N.V.*
Following a public comment period, the Federal Trade Commission has approved a final order settling charges that medical device company Stryker Corp.’s proposed $4 billion acquisition of (...)
The US FTC challenges a proposed acquisition of a competitor by a hospital in the healthcare sector (Hackensack Meridian Health / Englewood Healthcare Foundation)
FTC Challenges Hackensack Meridian Health, Inc.’s Proposed Acquisition of Competitor Englewood Healthcare Foundation*
New Jersey healthcare system merger would increase price and reduce quality of healthcare.
The Federal Trade Commission has filed an administrative complaint, and (...)
The German Government prohibits the acquisition of a telecommunication company by a Chinese buyer under the foreign direct investment rules (IMST / Addsino)
On 2 December 2020, the German government prohibited the acquisition of German company IMST GmbH, Kamp-Lintfort (“IMST”) by a Chinese investor. This is the second high profile prohibition decision issued by the German government this year on the grounds of Foreign Direct Investment (“FDI”) (...)
The German Government prohibits the acquisition of a telecommunications company by a Chinese industrial group on the basis of the foreign trade and payments ordinance (IMST / Addsino)
On 2 December 2020, the German Government prohibited on public security grounds the sale of the German Institut für Mobil-und Satellitenfunktechnik (“IMST”), a specialist in satellite and communications technologies, to Addsino, a subsidiary of State-owned defence group China Aero- space (...)
The UK Competition Appeal Tribunal upholds the Competition Authority’s decision to prevent the acquisition of an online graphics database by a social media company (Facebook / Giphy)
In a unanimous judgment, the Competition Appeal Tribunal ("CAT") dismissed Facebook’s application challenging the CMA’s refusal to grant certain derogations from an initial enforcement order ("IEO") imposed in connection with Facebook’s completed acquisition of GIPHY, Inc.
WHAT YOU NEED TO (...)
The US FTC files a complaint and sues to block a proposed acquisition of two hospitals by a healthcare company (Methodist Le Bonheur Healthcare / Saint Francis)
FTC Sues to Block Proposed Acquisition of Two Memphis-Area Hospitals*
Transaction would eliminate competition, increase prices, and reduce quality of care
The Federal Trade Commission has filed an administrative complaint, and authorized a suit in federal court, to block the proposed $350 (...)
The Norwegian Competition Authority prohibits the acquisition by a competitor in the car digital marketplace sector (Schibsted / Nettbil)
Schibsted must sell Nettbil*
The Norwegian Competition Authority has decided to intervene against Schibsted’s acquisition of Nettbil. The Authority is of the view that the acquisition will weaken competition in the market for online sales of used cars and will result in poorer services for (...)
The UK Competition Authority blocks a completed investment technology merger after finding it would lessen competition (FNZ / GBST)
On 5 November 2020, the UK’s Competition and Markets Authority (“CMA”) ordered the platform technology provider FNZ to sell GBST after finding that the completed merger between the two rivals would result in a substantial lessening of competition, which would lead to higher prices and a (...)
The US DoJ sues to block a global credit card company’s proposed acquisition of a leading financial data aggregation company (Visa / Plaid)
Justice Department Sues to Block Visa’s Proposed Acquisition of Plaid*
Acquisition Would Eliminate Nascent Competitor Plaid and Prevent Disruption of Visa’s Monopoly in Online Debit
Today, the Department of Justice filed a civil antitrust lawsuit to stop Visa Inc.’s $5.3 billion (...)
The UK Competition Authority blocks investment in a technology merger after finding it could lead to a reduction in the quality of service and higher prices (FNZ / GBST)
CMA blocks investment technology merger*
The CMA has ordered FNZ to sell GBST after finding their completed merger could lead to a reduction in the quality of service and higher prices.
In its final report, published today, the Competition and Markets Authority (CMA) has found that the (...)
The Polish Competition Authority imposes a maximum fine due to a lack of approval for the joint venture on 6 companies participating in the construction of a gas pipeline (Gazprom / Nord Stream 2)
Nord Stream 2 - maximum penalties imposed by UOKiK President* Tomasz Chróstny, President of UOKiK, has imposed a penalty of over PLN 29 bn on Gazprom, and of over PLN 234 mln on 5 remaining companies participating in the construction of the gas pipeline - as a result of the lack of approval (...)
The Portuguese Competition Authority prohibits a merger in the public road transport services market (Transdev / Grupo Fundão)
On 6 October 2020, the Portuguese Competition Authority (“AdC”) issued a decision prohibiting the Transdev Group’s acquisition of Grupo Fundão as well as public transport service concessions currently held by Transerramar and Auto Transportes do Fundão. Both Transdev and Grupo Fundão occupy (...)
The Portuguese Competition Authority prohibits an acquisition due to the risk of eliminating competition in the passenger transportation sector (Transdev / Grupo Fundão)
AdC prohibits the acquisition of Grupo Fundão by the Transdev Group due to risk of eliminating competition in passenger transportation in central Portugal*
The AdC (Portuguese Competition Authority) issued a prohibition decision relative to the acquisition of Grupo Fundão as well as of the (...)
The EU General Court provides useful jurisdictional clarifications for deals involving joint ventures acting as an acquirer (Cemex Croatia / HeidelbergCement / Schwenk)
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 General Court clarifies the application of the merger regulation to acquisitions by joint ventures and other jointly controlled companies (Cemex Croatia / HeidelbergCement / Schwenk)
On 5 October 2020, the General Court of the European Union (the “General Court”) confirmed the 2017 decision by the European Commission (the “Commission”) to prohibit the proposed acquisition by HeidelbergCement and Schwenk of Cemex Croatia (the “HeidelbergCement case”). In its judgment, the (...)
The EU General Court upholds the Commission’s decision to block a takeover in the construction sector (Cemex Croatia / HeidelbergCement / Schwenk)
On 5 October 2020, the EU’s General Court ("GC") upheld the European Commission’s ("Commission") decision to block the takeover of Cemex Croatia by DDC thereby dismissing the case brought by DDC’s parent companies, HeidelbergCement and Schwenk Zement ("Schwenk") claiming, inter alia, that the (...)
The EU Commission takes note of the General Court’s judgment confirming its decision to prohibit an acquisition in the construction sector in Hungary and Croatia (HeidelbergCement / Schwenk Zement / Cemex)
Mergers: Commission takes note of General Court judgment in HeidelbergCement/Schwenk/Cemex Hungary/Cemex Croatia merger case*
The European Commission takes note of the judgment of the General Court, which confirms the Commission’s decision prohibiting the acquisition by HeidelbergCement and (...)
The Finnish Competition Authority proposes prohibition of a three-to-two merger in the healthcare sector (Mehiläinen / Pihlajalinna)
On 29 September 2020, the Finnish Competition and Consumer Authority ("FCCA") proposed the Market Court to prohibit the merger between Mehiläinen Yhtiöt Oy and Pihlajalinna Oyj. Both companies operate in the healthcare market and provide services to individuals, companies, insurance companies (...)
The Finnish Competition Authority proposes to prohibit a merger between two of the three national healthcare companies (Mehiläinen / Pihlajalinna)
The FCCA proposes the Market Court to prohibit the merger between Mehiläinen and Pihlajalinna*
On 29 September 2020, Finnish Competition and Consumer Authority (FCCA) has proposed the Market Court to prohibit the merger between Mehiläinen and Pihlajalinna. According to the FCCA’s (...)
The UK Competition Authority blocks a window covering company’s completed acquisition of a competitor (Hunter Douglas / 247 Home Furnishings)
On 14 September 2020, the UK’s Competition and Markets Authority (“CMA”) ordered the blinds supplier Hunter Doug- las to sell off its majority stake in 247 Home Furnishings, which also sells blinds. The CMA found that the deal, which had already been completed, would substantially lessen (...)
The UK Competition Authority decides that the leading global supplier of window blinds must sell the majority of shares in acquired competitor (Hunter Douglas / 247 Home Furnishings)
Final decision published in window blind merger inquiry*
The CMA has decided that Hunter Douglas, owner of online blinds retailer Blinds2Go, must sell the majority of its shares in 247 to protect competition and prevent higher prices.
Hunter Douglas originally purchased a minority stake in (...)
The UK Government prohibits acquisition of a national supplier of military aircraft components on national security grounds (Gardner Aerospace / Impcross)
On 5 September 2020, the UK Government accepted undertakings from Gardner Aerospace Holdings Limited not to proceed with its proposed acquisition of Impcross Limited, a UK-based manufacturer of components for the aerospace industry (including for military aircraft). Gardner is owned by (...)
The French Competition Authority prohibits merger in the food retail market (Soditroy / Association des Centres Distributeurs E. Leclerc / Géant Casino)
On 28 August 2020, following an in-depth examination that was announced on 29 October 2019, the French Competition Authority (“FCA”) blocked the acquisition of joint control by Soditroy and Association des Centres Distributeurs E.Leclerc (“ACDLec”) of a Géant Casino hypermarket located in (...)
The French Competition Authority blocks a merger for the first time ever due to absence of remedies capable of addressing the competition concerns identified in the hypermarket sector (Soditroy / Association des Centres Distributeurs E. Leclerc / Géant Casino)
For the first time ever, the Autorité de la concurrence blocks a merger*
Soditroy and the Association des Centres Distributeurs E. Leclerc were planning to acquire joint control of a Géant Casino hypermarket in the conurbation of Troyes.
This merger raised serious competition concerns (...)
The French Competition Authority decides to block a merger transaction against the joint takeover of a local hypermarket by undertakings of a competing retail group (Géant Casino / ACDLec)
Nearly a month after issuing its new merger control guidelines, the French Competition Authority (FCA) broke new ground in merger control by issuing a blocking decision on 28 August 2020, against the joint takeover of a local hypermarket by undertakings of a competing retail group. The FCA (...)
The French Competition Authority issues its first dead-block and concludes that an acquisition of a hypermarket by two entities operating under the competing retailer raise too strong competition concerns (E.Leclerc-Géant / Casino)
The French Competition Authority ("FCA") has concluded that the acquisition of the hypermarket Géant Casino, by two entities operating (directly or indirectly) under the competing retailer E. Leclerc, raised competition concerns at the local level, which could not be addressed through (...)
The French Competition Authority prohibits a merger in the food retail market (Soditroy / Association des Centres Distributeurs E. Leclerc / Géant Casino)
The French Competition Authority (“FCA”) prohibited the proposed acquisition of the hypermarket retailer Géant Casino by its competitor E.Leclerc in the French city of Troyes. It found that the transaction would create a duopoly between the two remaining hypermarkets, Carrefour and E.Leclerc, (...)
The German Higher Regional Court of Dusseldorf dismisses an appeal brought by two producers of hydrodynamic slide bearings against a decision of the Competition Authority prohibiting them to create a joint venture (Miba / Zollern)
On 26 August 2020, the Higher Regional Court of Düsseldorf (“the Court”) dismissed as inadmissible an appeal by Miba and Zollern, two producers of hydrodynamic slide bearings, against a January 2019 decision of the German Federal Cartel Office (“FCO”) prohibiting them from creating a joint (...)
The UK Competition Authority fines a sports manufacturer and its parent company for breach of merger-freeze order with a footwear retailer (JD Sports / Footasylum)
On 5 August 2020, the UK’s Competition and Markets Authority (the “CMA”) fined JD Sports and its parent company Pentland Group £300,000 for failing to comply with an initial enforcement order (“IEO”) imposed with regard to JD Sports’ completed merger with footwear retailer Footasylum. The CMA (...)
The US DoJ sues to a block merger between a hospital system and an independent community hospital in central Pennsylvania (Geisinger Health / Evangelical Community Hospital)
Justice Department Sues To Block Geisinger Health’s Transaction With Evangelical Community Hospital*
Transaction Reduces Hospital Competition in Central Pennsylvania
The U.S. Department of Justice sued today to block Geisinger Health’s partial acquisition of its close rival, Evangelical (...)
The UK Competition Authority provisionally blocks merger between the country’s leading suppliers of retail investment platform solutions (FNZ / GBST)
Competition concerns in retail investment software merger*
Following an in-depth investigation, the CMA has provisionally blocked the merger of FNZ and GBST.
FNZ purchased GBST in November 2019. Both companies have a significant presence in the UK. They are 2 of the leading suppliers of (...)
The Polish Competition Authority fines a gas company €50M for failure to cooperate in the investigation into the construction of a gas pipeline (Gazprom / Nord Stream 2)
Nord Stream 2 - President of UOKiK imposes penalty on Gazprom* President of UOKiK Tomasz Chróstny has imposed a penalty of PLN almost 213 mln on Gazprom for failure to cooperate in the investigation conducted in relation to the construction of Nord Stream 2 gas pipeline. Such an obligation (...)
The Mexican Competition Authority sanctions pharmaceutical companies for failing to comply with the commitments to restore competition in the pharma market (Moench Coöperatif / Luis Doporto Alejandre)
COFECE sanctions Moench Coöperatif and Luis Doporto for failing to comply with the commitments made to totally and permanently eliminate any possible link between Nadro and Marzam, in the market for the distribution of pharmaceutical products* The commitments were accepted by the Board of (...)
The Rotterdam District Court annuls the authorisation of the acquisition of postal services providers on the basis that it would result in a monopoly on the Dutch postal delivery market (Sandd / PostNL)
On 11 June 2020, the Rotterdam District Court (the “Court”) annulled the authorisation of the acquisition of postal services provider Sandd by rival PostNL. The transaction had been authorised by the State Secretary for Economic Affairs and Climate Policy (the “State Secretary”) after (...)
The Rotterdam District Court annuls a ministerial merger licence for the acquisition of rival post operators granted on general interest grounds outweighing the expected restrictive effects on competition (Sandd / PostNL)
On 11 June 2020, the District Court of Rotterdam (‘District Court’) annulled the decision of the Minister of Economic Affairs & Climate (‘Minister’) to grant a licence for the acquisition of rival post operator Sandd by PostNL. This was the first time since the introduction of the Dutch (...)
The OECD devotes a session to assess the sufficiency of current merger control frameworks to investigate and prohibit mergers
From 10-12 June 2020, the OECD held its 133rd Meeting of the Competition Committee. This session was devoted to assessing the sufficiency of current merger control frameworks to investigate and – where needed – prohibit mergers that eliminate nascent competition that would other- wise (...)
The US DoJ moves to vacate its loss in a booking services market acquisition decision on the basis that the competition effects may heighten the agencies’ burden of proof and merger enforcement (Sabre / Farelogix)
On May 12, 2020, the Department of Justice moved the U.S. Court of Appeals for the Third Circuit to vacate the U.S. District Court for the District of Delaware’s U.S. v. Sabre Corp. opinion. In an opinion released on April 7, the court rejected DOJ’s challenge to the proposed merger of Sabre (...)
The UK Competition Authority blocks a sports-fashion retailer acquisition finding that even with the COVID-19 pandemic significantly impacting the relevant sector, the transaction would lead to a substantial lessening of competition nationally (JD Sports / Footasylum)
On 6 May 2020, the UK’s Competition and Markets Authority (“CMA”) blocked the sports-fashion retailer JD Sports’ already completed purchase of sportswear retailer Foot- asylum. The CMA concluded that the parties were close competitors and the transaction would lead to a substan- tial lessening (...)
The UK Competition Authority blocks a sports-fashion merger finding that even with the COVID-19 pandemic significantly impacting the sector, there would still be negative effects on competition if the merger proceeded (JD Sports / Footasylum)
CMA blocks sports-fashion merger*
The CMA has blocked JD Sports’ purchase of close competitor Footasylum after finding it would leave shoppers worse off.
Following an in-depth Phase 2 investigation, the Competition and Markets Authority (CMA) has concluded that this transaction would lead (...)
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)
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 US DoJ welcomes the UK Competition Authority’s prohibition of a merger between two travel technology companies resulting in the parties abandoning merger worldwide, even though in the US the DoJ’s prohibition was rejected by US District Court (Sabre / Farelogix)
Statement from Assistant Attorney General Makan Delrahim on Sabre and Farelogix Decision to Abandon Merger*
Sabre Corporation and Farelogix, Inc. announced today the termination of their merger agreement.
The Department of Justice filed a civil antitrust lawsuit on Aug. 20, 2019, to block (...)
The UK Competition Authority blocks a proposed merger in the market for the supply of merchandising solutions and distribution systems to airlines despite the COVID-19 pandemic (Sabre / Farelogix)
Despite the uncertain future facing the global travel industry as a result of the COVID-19 pandemic, on 9 April 2020, the UK’s Competition and Markets Authority (“CMA”) announced its decision to block the proposed Sabre/Farelogix transaction, citing concerns that “UK passengers [would] miss (...)
The UK Competition Authority blocks the merger of two online airline booking providers notwithstanding the significant impact of COVID-19 on the sector (Sabre / Farelogix)
CMA blocks airline booking merger*
Following an in-depth investigation, the CMA has blocked Sabre’s proposed takeover of Farelogix.
Among other products and services, Sabre and Farelogix supply software solutions which help airlines to sell flights via travel agents including those that (...)
The Austrian Competition Authority announces that retrospective notification of an acquisition is a violation of the notification requirements and subject to fines (Castanea Rubra / Neue Halberg)
On 27 March 2020, the Austrian Federal Competition Authority (“FCA”) announced that, pursuant to its request, the Cartel Court had imposed a fine of € 100,000 on Castanea Rubra Assets GmbH. Castanea Rubra Assets GmbH had acquired 94% of the shares of German-based car parts manufacturer Neue (...)
The Austrian Competition Authority grants request to amend commitments undertaken as part of a merger previously cleared in the market for free TV and advertisement (Puls 4 / ATV)
On 26 March 2020, the Austrian Federal Competition Authority (“FCA”) granted a request to amend the commitments in the market for free TV and television advertising undertaken as part of a merger cleared in 2017. The FCA had cleared the acquisition by Austrian-based ProSiebenSat.1Puls 4 GmbH (...)
The Spanish Government updates the foreign investment screening regime in light of COVID-19 and prohibits or severely limits the foreign acquisition of companies active in sectors related to public order, public security, or public health
The rapid spread of Covid-19 has led to its consideration as a global pandemic. Spain, currently at the epicenter of the crisis, has declared the state of alarm last Sunday.
To ease the effects of the Covid-19 crisis in the economy, the Spanish Government approved yesterday Royal Decree-Law (...)
The US FTC files an administrative complaint alleging that a proposed merger will reduce competition in the hospital sector (Thomas Jefferson / Albert Einstein Healthcare)
Will FTC’s winning record end planned Philadelphia-area hospital merger?*
The FTC and State of Pennsylvania on February 28 moved to block the proposed merger of Jefferson Health and Albert Einstein Healthcare Network, two leading providers of inpatient general acute care hospital services (...)
The Finnish Market Court upholds the Competition Authority’s decision to block a merger between grocery wholesalers, making it the first merger ever prohibited in the country (Kesko / Heinon Tukku)
Kesko’s acquisition of Heinon Tukku blocked by the Finnish Market Court*
The merger between Finnish grocery wholesalers, Kesko and Heinon Tukku, was prohibited by the Market Court on 17 February 2020. In accordance with the Finnish Competition and Consumer Authority’s (FCCA) proposal, the (...)
The Finnish Market Court upholds the Competition Authority’s request to prohibit a proposed acquisition of a grocery wholesaler on the basis that it would become dominant in the market (Kesko / Heinon Tukku)
On 17 February 2020, the Finnish Market Court (the “Court”) upheld the request of the Finnish Competition and Consumer Authority (the “KKV”) to prohibit Kesko’s proposed acquisition of grocery wholesaler Heinon Tukku. The Court’s judgment may be appealed before the Finnish Supreme (...)
The Finnish Market Court blocks for the first time a merger between two wholesalers in the grocery market (Kesko / Heinon Tukku)
On 17 February 2020, the Market Court prohibited a merger between Finnish grocery wholesalers, Kesko and Heinon Tukku. This was the first time a merger has been prohibited in Finland after merger control rules were introduced in 1998. Previous three prohibition proposals of the Finnish (...)
The UK Competition Appeal Tribunal annuls the Competition Authority’s decision for failing to prove that the acquisition would result in vertical input foreclosure effects in the communication technology market (Tobii / Smartbox)
In September 2019, the Competition Markets Authority ("CMA") found that Tobii’s acquisition of Smartbox resulted in or may result in a substantial lessening of competition in the UK assistive communication technology market and ordered Tobii to divest Smartbox. Tobii consequently appealed the (...)
The UK Competition Appeal Tribunal confirms a deferential standard for the Competition Authority in its merger prohibitions (Tobii / Smartbox)
A recent decision by the Competition Appeal Tribunal (CAT), Tobii AB (publ) v. Competition and Markets Authority, confirms a deferential standard for the U.K. Competition and Markets Authority (CMA) in its merger prohibitions.
The CMA is widely regarded as a thought leader among merger (...)
The German Competition Authority prohibits a merger in the cash handling services sector (Ziemann / Loomis)
On 18 December 2019, the German Federal Cartel Office (“FCO”) prohibited Loomis’ proposed acquisition of its competitor, Ziemann Sicherheit Holding (“Ziemann”). Loomis and Ziemann are both cash handling service providers.
The proposed concentration would have affected the provision of cash (...)
The Finnish Competition Authority proposes to the Market Court to prohibit the merger between two operators in wholesale services in the foodservice industry (Kesko / Heinon Tukku)
On 18 November 2019, the Finnish Competition and Consumer Authority ("FCCA") proposed the Market Court to prohibit the merger between Kesko Oyj and Heinon Tukku Oy, two operators in wholesale services in the foodservice industry. According to the FCCA, the merger would significantly impede (...)
The Norwegian Competition Authority prohibits a merger in the market for semi-submersible accommodation vessels as it would reduce competition in terms of prices, quality and innovation (Prosafe)
On 28 October 2019, the Norwegian Competition Authority (“NCO”) prohibited Prosafe, the leading global producer of semi-submersible accommodation vessels, from acquiring competitor Floatel. Prosafe is Norwegian, whereas Floatel is based in Bermuda and Sweden. Semi-submersible accommodation (...)
The UK Competition Authority orders a divesture and blocks a merger in the cleaning chemicals sector (Ecolab / Holchem)
On 8 October 2019, the UK’s Competition and Markets Authority (“CMA”) ordered Ecolab to divest Holchem, effectively blocking the merger of two of the largest cleaning chemicals suppliers in the UK. Ecolab bought Holchem in November 2018. The CMA launched a merger inquiry in February 2019, (...)
The Dutch Competition Authority prohibits a merger in the postal delivery market (Sandd / PostNL)
ACM does not grant a license for the acquisition of postal operator Sandd by PostNL*
Having conducted a thorough investigation, the Netherlands Authority for Consumers and Markets (ACM) has decided not to grant a license for the acquisition of postal operator Sandd by rival operator PostNL. (...)
The US DoJ leaves the door open to offering proof that harm to innovation in the market for airline bookings is separate and independent basis to block a merger (Sabre / Farelogix)
In its recent complaint challenging the $360 million acquisition of Farelogix by Sabre, the Department of Justice (“DOJ”) appears to have left the door open to offering proof that harm to innovation in the market for airline bookings is a separate and independent basis to block the merger. (...)
The German Competition Authority prohibits a merger in the waste management market (Remondis / DSD)
Bundeskartellamt prohibits Remondis/DSD merger*
Bonn, 11 July 2019: The Bundeskartellamt has today prohibited the proposed acquisition by REMONDIS SE & Co. KG of all the shares in the dual system DSD - Duales System Holding GmbH & Co. KG.
Andreas Mundt, President of the (...)
The German Competition Authority prohibits merger in the waste management sector (Remondis / DSD)
On 11 July 2019, the German Federal Cartel Office (“FCO”) prohibited the proposed acquisition of Duales System Holding (“DSD”) by Remondis. The parties are active in the waste management industry in Germany.
In Germany, the waste management industry is organised around the “Dual System”, (...)
The Swiss Federal Supreme Court affirms a major ticket sale company’s sole legitimacy to submit a complaint against the Competition Commission’s prohibition of the merger between its wholly owned subsidiary and another company (Ticketcorner Holding / Tamedia)
In its decision of June 24, 2019, the Federal Supreme Court affirms Ticketcorner Holding AG’s sole legitimacy to lodge a complaint against ComCo’s prohibition of the merger between its wholly-owned subsidiary Ticketcorner AG and Starticket AG. The Federal Supreme Court thereby clarifies that (...)
The EU Commission prohibits a joint venture in the carbon and electrical steel activities sector (Thyssenkrupp / Tata)
On 11 June 2019, the European Commission (“Commission”) prohibited the creation of a joint venture between Thyssenkrupp and Tata Steel under the EU Merger Regulation. The deal would have combined Thyssenkrupp and Tata’s flat carbon and electrical steel activities in the EEA.
According to the (...)
The EU Commission prohibits a merger in the steel sector (Thyssenkrupp / Tata)
On 11 June 2019, the proposed joint venture (“JV”) between the two companies was prohibited by the Commission. The prohibition is grounded on the effects that the proposed JV would have produced in the market, namely, reduced competition and increased steel prices. The Commission’s decision is (...)
The EU Commission prohibits a merger between steel suppliers (Tata Steel / ThyssenKrupp)
Mergers: Commission prohibits proposed merger between Tata Steel and ThyssenKrupp
The European Commission has prohibited the creation of a joint venture by Tata Steel and ThyssenKrupp under the EU Merger Regulation. The merger would have reduced competition and increased prices for different (...)
The Mexican Competition Authority prohibits a concentration between a retail company and a company offering logistical services to retailers (Walmart / Cornershop)
COFECE blocked Walmart/Cornershop concentration*
• The proposed deal could generate incentives to unduly displace or block competitors’ access to the Cornershop platform and/or hinder the development of new platforms.
• The new economic agent resulting from the transaction would gain (...)
The German Competition Authority prohibits a merger in the printing industry (MBO / Heidelberger Druckmaschinen)
Bundeskartellamt prohibits acquisition of MBO group by Heidelberger Druckmaschinen AG*
Bonn, 7 May 2019: The Bundeskartellamt has today prohibited the proposed acquisition of all the shares in HB Vermögensverwaltungsgesellschaft mbH & Co. KG by Heidelberger Druckmaschinen AG. HB (...)
The UK Competition Authority prohibits a merger between two supermarket retailers after finding it would lead to increased prices in stores, online and at many petrol stations (Sainsbury’s / Asda)
CMA blocks merger between Sainsbury’s and Asda*
The CMA has blocked the Sainsbury’s / Asda merger after finding it would lead to increased prices in stores, online and at many petrol stations across the UK.
In its final report, published today, the Competition and Markets Authority (CMA) (...)
The Bulgarian Competition Authority reviews its analysis and blocks a transaction initially not found to constitute a merger in the manufacturing of defence-related products sector (EMKO)
Follow-up: Bulgarian Commission for Protection of Competition blocks key transaction initially found not to constitute a concentration*
In 2016, the Bulgarian Commission for Protection of Competition (“BCPC”) was notified for the intention of two of the biggest Bulgarian companies operating (...)
The EU Commission prohibits a merger between rolled copper products producers (Wieland / Aurubis / Schwermetall)
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 EU Commission prohibits a railway merger due to very significant overlaps in the companies’ activities in the fields of railway signalling and very high-speed trains and the risk of creating a dominant position (Siemens / Alstom)
The European Commission’s decision to block the Siemens-Alstom mega-merger in February 2019 provoked the anger of the French and German governments that had backed the deal. They accused the Commission of playing against the interests of the European economy by preventing the emergence of a (...)
The EU Commission prohibits a merger in the railway sector (Siemens / Alstom)
Following an in-depth investigation, the European Commission (“EC”) decided on 6 February 2019 to prohibit Siemens’ proposed acquisition of Alstom. According to the EC the combining of Siemens’ and Alstom’s transport equipment and services in a new company fully controlled by Siemens would (...)
The EU Commission prohibits a merger in the railway signalling market and very high-speed trains sector (Siemens / Alstom)
On 6 February 2019, the Commission adopted a prohibition decision against Siemens’ proposed acquisition of Alstom, which aimed at combining the parties transport equipment and service activities.
This decision was based on the Commission’s finding that the transaction at issue would (...)
The EU Commission prohibits a merger in the market for railway signalling and very high-speed trains (Siemens / Alstom)
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 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)
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 rolled copper products market (Wieland / Aurubis / Schwermetall)
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)
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 South African Competition Tribunal hears arguments for the merger which would result in a 90% share in the market for steel drums (Greif / Rheem)
Abstract
In this paper, we use a differentiated- products oligopoly model to assess the impact on competition of a merger between Greif and Rheem South Africa. Both parties are active in the industrial packaging products sector. The parties’ activities overlap, among others, in the (...)
The German Competition Authority prohibits a merger in the bearing production sector (Miba / Zollern)
Bundeskartellamt prohibits merger between Miba and Zollern in bearing production sector*
The Bundeskartellamt has prohibited the launch of a joint venture between Miba AG, Laakirchen (Austria), and Zollern GmbH & Co. KG, Sigmaringen. The companies had planned to pool their hydrodynamic (...)
The EU Court of Justice dismisses the Commission’s appeal against the annulment of its decision to prohibit a merger in the parcel delivery market (UPS / TNT)
This article has been nominated for the 2020 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards.
EU Court confirms the need for transparency and full disclosure of economic analyses in EU merger cases (UPS/TNT)*
On 16 January 2019, the Court of Justice (...)
The EU Court of Justice rules the Commission violated the rights of the defence when it failed to share the final economic model used in its decision to block a merger (UPS / TNT)
In Short
The Development: The European Court of Justice ("ECJ") ruled that the European Commission ("Commission") violated UPS’s rights of defense when it failed to provide UPS with the final economic model used in its decision to block UPS’s proposed acquisition of TNT in 2013.
The (...)
The EU Court of Justice upholds the General Court’s ruling that annulled the Commission’s decision prohibiting a merger in the parcel delivery market (UPS / TNT)
On 19 January 2019, the Court of Justice of the European Union (“ECJ”) upheld on due process grounds the 2017 judgment of the General Court (“GC”) annulling the decision of the European Commission (“Commission”) in the UPS/TNT Express merger (Case C-265/17P, Commission v. United Parcel (...)
The EU Commission submits a note on the suspensory effects of merger notifications and gun-jumping as part of OECD roundtable discussions
The EU OECD paper on gun-jumping*
Gun-jumping is a “hot topic” and increasingly on the radar of competition authorities in Europe and across the globe. As part of the OECD roundtable discussions, the European Union (and a number of other countries) recently submitted a note on the suspensory (...)
The Massachusetts Health Policy Commission identifies significant competitive overlap in a proposed merger of several hospital systems as it would enhance the bargaining leverage with insurers (Beth Israel Lahey Health / Partners HealthCare)
This article has been nominated for the 2020 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards.
A STRONGER SECOND COMPETITOR? ANALYZING THE COMPETITIVE EFFECTS OF THE BETH ISRAEL LAHEY HEALTH TRANSACTION*
I. BACKGROUND
Could a merger between rival (...)
Prohibited mergers: An overview of EU and national case law
I have been asked to provide a foreword to this impressive publication. I take great pride in accepting the assignment and I hope that my contribution to this important piece of work helps set the scene .
Mergers and acquisitions are key functions of the capital markets. Combined with the (...)
The EU Court of Justice Advocate General Kokott issues an opinion supporting the rights of defence of merging parties (UPS / TNT)
On 25 July 2018, Advocate General (“AG”) Kokott issued an Opinion in which she concludes that the General Court (“GC”) was correct to annul the Commission’s 2013 decision to prohibit UPS’s acquisition of its package delivery rival, TNT Express.
In the decision, the Commission relied upon a (...)
The OECD holds a roundtable on considering non-price effects in merger control
1. Introduction
1. When firms compete, they make a range of decisions about the characteristics of their products. Consumers make purchasing decisions based on at least some of these characteristics, which determine the value they obtain from the product. Price is one such characteristic, (...)
The Singaporean Competition Authority prohibits a proposed merger in the market of supply of maritime products leading the companies to abandon the deal (Wilhelmsen Maritime Services / Drew Marine Technical Solutions)
Merger Control Infringement Decision - Consumer Commission of Singapore*
On 25 May 2018, the Competition and Consumer Commission of Singapore (’CCCS’) provisionally concluded that the proposed merger between Wilhelmsen Maritime Services AS (“WMS”) and Drew Marine Technical Solutions (“DMTS”) (...)
The US FTC issues an administrative complaint challenging a merger in the global fleet market which can increase the risk of price discrimination and reduce competition (Wilhelmsen Maritime / Drew Marine)
The Federal Trade Commission (FTC) recently announced that it has challenged a merger between Wilhelmsen Maritime Services (Wilhelmsen) and Drew Marine Group (Drew) because of an overlap in service to “global fleet customers,” a narrow customer segment that purchases marine water treatment (...)
The US FTC challenges a merger due to the potential negative effects it caused in the market of marine water treatment for chemicals (Drew Marine Group / Wilhelmsen Maritime Services)
FTC ALLEGES "GLOBAL FLEETS" IN CHALLENGE TO WILHELMSEN’S ACQUISITION OF DREW MARINE*
The Federal Trade Commission (“FTC”) recently issued an administrative complaint and amended complaint challenging the proposed acquisition of Drew Marine Group (“Drew”) by Wilhelmsen Maritime Services (...)
The German Competition Authority prohibits a merger on the ticket sale market for live entertainment (CTS Eventim / Four Artists)
Bundeskartellamt prohibits merger between CTS Eventim and Four Artists*
The Bundeskartellamt has prohibited the planned acquisition by CTS Eventim AG & Co. KGaA of the majority of shares in the companies belonging to Konzert- und Veranstaltungsagentur Four Artists - Four Artists Booking (...)
The Turkish Competition Authority prohibits a merger in the shipping market despite remedies offered by the merging parties (UN Ro-Ro / Ulusoy)
The Competition Board (“Board”), in its decision dated 9.11.2017 and numbered 17-36/595-259 (“Decision”), has rejected the acquisition of the full shares of Ulusoy Deniz Taşımacılığı A.Ş., Ulusoy Gemi İşletmeleri A.Ş., Ulusoy Ro-Ro İşletmeleri A.Ş., Ulusoy Ro-Ro Yatırımları A.Ş., Ulusoy Gemi (...)
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)
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 Lithuanian Supreme Administrative Court upholds the Competition Authority’s decision to block a merger between malt producers (Viking Malt)
Supreme Administrative Court of Lithuania: Competition Council legitimately blocked merger between malt producers*
The Supreme Administrative Court of Lithuania (Court) upheld the Competition Council’s decision, according to which the Council prohibited the acquisition of 100 per cent of (...)
The US DoJ files a complaint seeking to partially unwind a merger between two producers of aviation fuel filtration products on the basis that it substantially lessens competition in the market (Clarcor / Parker-Hannifin)
On September 26, 2017 the Antitrust Division of the United States Department of Justice (DOJ) filed a complaint in the US District Court for the District of Delaware seeking to partially unwind a merger between two producers of aviation fuel filtration products. In its complaint, the DOJ (...)
The German Higher Regional Court in Düsseldorf upholds the Competition Authority’s decision to prohibit a merger between two supermarket chains (EDEKA / Kaiser’s Tengelmann)
Düsseldorf Higher Regional Court confirms prohibition of EDEKA/Kaiser’s Tengelmann merger*
Bonn, 24 August 2017: Yesterday the Düsseldorf Higher Regional Court rejected appeals filed by EDEKA and Kaiser´s Tengelmann against the Bundeskartellamt’s prohibition of the merger between the super (...)
The US FTC sues to block the proposed physician acquisition group by a health system due to the possibility to create very high market shares (Sanford Health / Mid-Dakota Clinic)
With its latest lawsuit to block an acquisition of physicians, the Federal Trade Commission (FTC) confirmed last week that monitoring physician consolidation is a priority. The FTC and North Dakota Attorney General sued to block the proposed acquisition by a health system (Sanford Health) of (...)
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)
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 prohibits a merger in the financial sector (Deutsche Börse / London Stock Exchange)
On 29 March 2017, the Commission prohibited the proposed merger between the London Stock Exchange (LSE) and Deutsche Börse, almost one year after the parties first announced the deal, and on the day that the United Kingdom served notice of its intention to leave the European Union.
The (...)
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)
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 issues a decision prohibiting a merger between two stock exchange companies due to the risk of foreclosure in the markets for post-trade services (Deutsche Börse / London Stock Exchange Group)
Introduction
On 29 March 2017, the European Commission issued its decision prohibiting the merger between Deutsche Börse AG (“DBAG”) and London Stock Exchange Group (“LSEG”). The Commission was concerned about, inter alia, the risk of foreclosure in the markets for post-trade services.
In (...)
The Latvian Competition Authority prohibits a food retail company from replacing a competitor on shopping center’s premises using merger prohibition (RIMI)
The CC prohibits RIMI from opening a shop at the premises of “DOMINA SHOPPING”*
On 12 January, the Competition Council of Latvia (the CC) adopted a decision to prohibit SIA “RIMI LATVIA” (RIMI) from using retail premises at the shopping centre “DOMINA Shopping” in Riga, the capital of (...)
The OECD holds a roundtable on agency decision-making in merger cases: prohibition and conditional clearances
Executive Summary, by the Secretariat*
Working Party No. 3 held a roundtable on 29 November 2016 on Agency Decision-Making in Merger Cases: From a Prohibition Decision to a Conditional Clearance. Considering the roundtable discussion, the delegates’ written contributions, presentations from (...)
The OECD holds a roundtable on jurisdictional nexus in merger control regimes
Executive summary, by the Secretariat *
Considering the discussion at the roundtable held by Working Party No.3 on Co-operation and Enforcement on 15June 2016, the delegates’ submissions, the panellists’ presentations and the Secretariat’s background paper, several points are noted:
1. (...)
The OECD holds a roundtable on public interest considerations in merger control
Executive summary, by the Secretariat *
Considering the discussion at the roundtable held by Working Party No. 3 on Co-operation and Enforcement on 14 June 2016, the delegates’ submissions, the panellists’ presentations and the Secretariat’s background paper, several points emerged:
1. (...)
The Turkish Administrative Court annuls an acquisition in the alcoholic beverages sector and refers it back to the Competition Authority (ABI / SAB Miller)
Background
In its decision dated 01.06.2016 and numbered 16-19/311-140 (“Decision”), the Turkish Competition Board (“Board”) evaluated the acquisition of SABMiller plc’s (“SAB Miller”) control by Anheuser-Busch InBev (“ABI”) (“Transaction”) and granted unconditional approval to the (...)
The US District Court for the District of Columbia grants the Federal Trade Commission’s request for a preliminary injunction halting a merger in the office supply superstores sector (Staples / Office Depot)
On May 10, 2016, Judge Emmet G. Sullivan of the U.S. District Court for the District of Columbia released his highly anticipated decision in the matter of Staples’ acquisition of Office Depot, granting the Federal Trade Commission’s (FTC) request for a preliminary injunction and effectively (...)
The EU Commission blocks a merger between two mobile networks due to the risk of price increase on the market (Telefónica UK / Hutchison 3G UK)
On 11 May 2016, the European Commission (“Commission”) prohibited the proposed acquisition of Telefónica’s O2 by Hutchison’s Three under the EU Merger Regulation. The Commission’s primary concern was that a combined Three/ O2 would have the ability and incentive to raise prices in the UK (...)
The EU Commission prohibits a merger between two telecommunication companies in the UK mobile market (Telefónica UK / Hutchison 3G UK)
Mergers: Commission prohibits Hutchison’s proposed acquisition of Telefónica UK*
The Commission has blocked the proposed acquisition of O2 by Hutchison under the EU Merger Regulation. It had strong concerns that UK mobile customers would have had less choice and paid higher prices as a (...)
The Lithuanian Competition Authority prohibits a merger between two managers of classified ads websites for real estate and vehicles (AS Eesti Meedia / AllePAL OÜ)
Competition Council: Merger between classified ads websites restricted competition*
On 6 May 2016, the Competition Council (hereinafter – KT) prohibited a merger whereby in 2014 AS Eesti Meedia acquired 100 per cent of AllePAL OÜ shares. KT found that the merger restricted competition in the (...)
The German Minister for Economics and Energy conditionally approves a merger in the retail sector despite a previous prohibition decision by the Competition Authority (EDEKA / Tengelmann)
On 12 January 2016, the German Minister of Economics and Technology (Minister of Economics), Sigmar Gabriel, announced his intention to conditionally approve the proposed merger of retail chains EDEKA and Tengelmann by way of ministerial approval. The ministerial approval is a legal instrument (...)
The Dutch Industry Appeals Tribunal annuls decision blocking bakery merger (Continental Bakeries / A.A. ter Beek)
On 11 February 2016, the Dutch Industry Appeals Tribunal (the “Tribunal”), the administrative court of last instance in competition law matters, annulled the decision of the Dutch Competition Authority (“DCA”) prohibiting the merger between Continental Bakeries and A.A. ter Beek. The Tribunal (...)
The US District Court for the Northern District of Ohio denies the Federal Trade Commission’s bid to enjoin a company from acquiring its alleged potential competitor (Steris / Synergy)
This article has been nominated for the 2016 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards.
On September 24, 2015, the U.S. District Court for the Northern District of Ohio denied the Federal Trade Commission’s (FTC) bid to enjoin Steris Corporation (...)
The US District Court for the Northern District of Ohio denies the FTC bid for a preliminary injunction in a merger case (Steris / Synergy)
This article has been nominated for the 2016 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards.
"Prophesy is a good line of business, but it is full of risks." Mark Twain could have been speaking about the FTC’s recent challenge to a merger between the (...)
The Dutch Competition Authority prohibits a merger in the hospital market (Albert Schweitzer Hospital / Rivas Zorggroep)
ACM prohibits proposed merger between two Dutch hospital groups*
The Netherlands Authority for Consumers and Markets (ACM) has not approved the proposed merger of two hospital groups in the southwestern part of the Netherlands, near the cities of Dordrecht and Gorinchem: Albert Schweitzer (...)
The Turkish Competition Authority rejects an acquisition of the Marinas (Beta Marina / Setur)
The Competition Board (“Board”) has rejected the acquisition of the full shares of Beta Marina Liman ve Çekek İşletmesi A.Ş. (“Beta Marina”) and Pendik Turizm Marina Yat ve Çekek İşletmesi A.Ş. (“Pendik Turizm”) by Setur Servis Turistik A.Ş. (“Setur”) in accordance with Art. 7 of Act No. 4054 (...)
The US Congress prepares the standardization of merger review processes used by the FTC and DOJ (SMARTER Act)
The SMARTER Act and Its Impact on Federal Merger Enforcement*
Federal lawmakers are currently considering legislation that would eliminate differences in the procedures used by the Federal Trade Commission (FTC) and the Department of Justice Antitrust Division in challenging unconsummated (...)
The England & Wales Court of Appeal brings some additional clarity on assets acquisition (Eurotunnel / SeaFrance)
Asset acquisitions revisited*
Earlier this year, I suggested that the law on when an asset acquisition might amount to a merger was somewhat opaque. The Court of Appeal’s decision in Eurotunnel II [2015] EWCA Civ 487 has brought some additional clarity, although the messy procedural history (...)
The German Competition Authority blocks a merger between two food retailers with a strong position in different regional markets as it would impede effective competition in the food retail market (Kaiser’s Tengelmann / EDEKA)
At the beginning of April 2015, the Bundeskartellamt blocked the merger between Edeka and Kaiser’s Tengelmann ("Tengelmann"), which had been notified in October 2014. In the proposed merger, Edeka intends to acquire approximately 450 outlets of Tengelmann. Both companies are food retailers (...)
The German Competition Authority prohibits a merger in the food retail market (Kaiser’s Tengelmann / Edeka)
Bundeskartellamt prohibits takeover of Kaiser’s Tengelmann by EDEKA*
The Bundeskartellamt has prohibited the acquisition of around 450 Kaiser’s Tengelmann outlets by EDEKA. In the authority’s view the project would have considerably wors-ened competition conditions on a large number of (...)
The Singaporean Competition Authority takes a provisional decision to block a proposed acquisition in the radiology and imaging services sector (RadLink-Asia / Fortis Singapore)
On 16 March 2015, the Competition Commission of Singapore (“CCS”) announced that it had taken a provisional decision to block the proposed acquisition of RadLink-Asia Pte Limited (“RadLink”), a wholly owned subsidiary of Fortis Healthcare Singapore Pte. Limited (“Fortis Singapore”) by Medi-Rad (...)
The EU General Court upholds a Commission’s decision to prohibit a merger of two stock exchanges of financial derivatives (NYSE Euronext / Deutsche Börse)
Background information
The ruling of the EU General Court of 9 March 2015 has fully upheld the decision in which the European Commission (the “Commission”) blocked the concentration between NYSE Euronext (“NYX”) and Deutsche Börse. NYX is a U.S holding formed in 2007 through the merger of (...)
The Italian Administrative Supreme Court reinstates a decision issued by the Competition Authority prohibiting a joint venture in the gas distribution sector (Isontina Reti Gas)
By judgment No. 334 of 26 January 2015, the Italian Supreme Administrative Court (Consiglio di Stato) upheld two appeals brought by the Italian Competition Authority (Autorità Garante della Concorrenza e del Mercato, hereinafter “ICA”) and reinstated the ICA’s decision No. 24320 of 17 April (...)
The UK Competition Appeal Tribunal upholds that when a company acquires assets that can potentially be turned into a business activity such an acquisition can be considered a merger (Eurotunnel / SeaFrance / MyFerryLink)
Eurotunnel: when buying assets is a merger*
When is an asset acquisition a merger? As the Eurotunnel litigation shows, the answer is not clear-cut.
The background is the 2011 liquidation of the cross-channel ferry company SeaFrance. It could not be sold as a going concern, so instead there (...)
The UK Competition Appeal Tribunal upholds the merger decision of the Competition Authority in a maritime transport case (Eurotunnel / SeaFrance / MyFerryLink)
The CMA has welcomed today’s judgment by the Competition Appeal Tribunal (CAT) to uphold the CMA’s decision to bar Eurotunnel from running its MyFerryLink service out of Dover, to safeguard competition.*
The CAT’s judgment dismissed an appeal by Eurotunnel and Société Coopérative de (...)
The Chinese MOFCOM publishes for the first time penalty decisions regarding merger control (Unigroup / RDA Microelectronics) (Western Digital / Hitachi)
MOFCOM Steps Up: Penalty Decisions Regarding Merger Control Published for the First Time*
Two months after the National Development and Reform Commission (“NDRC”) published its last high-profile anti-monopoly penalty decisions (e.g.Japanese Auto Parts and Bearing Manufacturers case, Audi and (...)
The EU Commission publishes a White Paper on the application of merger control rules to the acquisition of non-controlling minority shareholdings with the objective of providing a more effective merger control regime
COMMISSION PUBLISHES WHITE PAPER ON MINORITY SHAREHOLDINGS*
On 9 July 2014, the EU Commission (Commission) published a White Paper (White Paper) entitled Towards more effective EU merger control. The White Paper sets out the Commission’s current thinking on the application of merger control (...)
The Australian Competition Tribunal receives an application for authorisation to acquire the assets of a power station following the opposition decision issued by the Competition Authority (AGL Energy / Macquarie Generation)
AGL to seek Australian Competition Tribunal decision on Macquarie Generation*
The Australian Competition and Consumer Commission acknowledges AGL’s application to the Australian Competition Tribunal which was filed today seeking an authorisation that an acquisition of Macquarie Generation be (...)
The Chinese MOFCOM prohibits the proposed shipping alliance between the world’s three largest liner shipping operators (P3 Alliance)
No Way: Top Three Shipping Liners’ Proposed Alliance was Blocked by Chinese Watchdog*
Introduction
On the very last day of the statutory period for a merger review (i.e. June 17, 2014), China’s Ministry of Commerce (“MOFCOM”) rendered its decision to prohibit the proposed shipping alliance (...)
The Chinese MOFCOM blocks a joint venture in the shipping sector notwithstanding the fact that both U.S. and EU competition authorities had chosen not to challenge the transaction (MSC / CMA CGM / P3)
For only the second time since it began reviewing mergers and joint ventures in 2008, when China’s Anti-Monopoly Law (AML) came into effect, China’s Ministry of Commerce (MOFCOM) has blocked a proposed transaction rather than addressing its competition and trade policy concerns through some (...)
The Swedish Competition Authority furthers an application for a prohibition order against the acquisition of the franchisors of the two largest national real estate chains (Swedbank Franchise / Svensk Fastighetsförmedling)
The Swedish Competition Authority is going to court to stop the real estate concentration*
The Competition Authority is going to court to prohibit Swedbank Franchise from acquiring Svensk Fastighetsförmedling. The deal would significantly impede competition on a large number of local (...)
The Lithuanian Competition Authority opens an investigation and finds that a refusal to negotiate a swap agreement for natural gas amounted to a breach of the merger conditions (Gazprom / Lietuvos dujos)
Lithuanian Competition Council fines OAO Gazprom for failing to comply with merger conditions*
On 10 June, the Competition Council (KT) imposed a fine of 123,096,700 litas (approx. EUR 35,651,269) on OAO Gazprom for the failure to comply with merger conditions. In 2004, the KT allowed (...)
The German Competition Authority prohibits a merger in the hospital sector between district clinics and a local clinical centre (Esslingen clinics)
Bundeskartellamt prohibits merger between hospitals in Esslingen*
The Bundeskartellamt has prohibited plans of the administrative district of Esslingen and the town of Esslingen to merge the Esslingen district clinics (Kreiskliniken Esslingen) with the Esslingen clinical centre (Klinikum (...)
The German Competition Authority prohibits a merger in the hospital sector (Klinikum Esslingen / Kreiskliniken Esslingen)
According to a press release issued on 15 May 2014, the German Federal Cartel Office (FCO) prohibited a proposed merger on the market for acute hospitals in the districts of Esslingen and Kirchheim/Nürtingen.
Consistent with past decisions, the FCO examined the effects of the merger on (...)
The Lithuanian Competition Authority imposes fines for the implementation of non-notified mergers and requires the undoing of a takeover in the petrol station market (Lukoil Baltija / Baltic Petroleum)
Competition Council fines Lukoil 11 817 700 LTL for implementing non-notified mergers*
On 12 May, the Competition Council (the KT) fined UAB Lukoil Baltija 11 817 700 LTL ( ̴ 3 422 642 EUR) for implementing non-notified mergers and obligated the company to eliminate the breach.
Having (...)
The Chinese MOFCOM publishes rules setting out the eligibility criteria for simple merger cases entitled to the simplified procedure
At Last, MOFCOM Formally Adopted Simplified Merger Review Procedure*
Introduction
The Ministry of Commerce (“MOFCOM”) finally published the Guiding Opinions on Notification of Simple Cases of Concentration of Undertakings (the “Guiding Opinions”) on 18 April 2014, two months after the (...)
The England & Wales Court of Appeal holds that a foreign business can be blocked by the Competition Authority from acquiring another non-UK company where there is sufficient UK involvement (Akzo Nobel / Metlac)
Background to the judgement AkzoNobel NV (‘Akzo’) is incorporated in the Netherlands. It does not directly engage in activities in the UK. It is, however, at the peak of a complex corporate arrangement that comprises multiple subsidiary companies. Part of this corporate arrangement is a (...)
The German Federal Court of Justice clarifies the requirements for state liability in case of an illegal prohibition of a merger by the Competition Authority (GN Store Nord II)
The case before the Oberlandesgericht, (Higher District Court of Düsseldorf (OLG Düsseldorf)) related to a damages claim brought by Phonak against the Federal Republic of Germany based on the German rules of state liability (Section 839(1)(1) of the German Civil Code (BGB) in conjunction with (...)
The Chinese MOFCOM announces it will publicise the decisions regarding the administrative penalties of undertakings which did not submit a notification prior to the implementation of their merger
Non-filers Beware: MOFCOM Takes More Strict Approach*
Introduction
On March 21, 2014, the PRC Ministry of Commerce (“MOFCOM”) announced that it decided to publicize the decisions of administrative penalties of undertakings which did not submit a notification prior to the implementation of (...)
The South African Government intervenes in favour of allowing the implementation of an acquisition in the agricultural sector (AFGRI / AgriGroupe)
Worrying trends in South African merger control – Government’s abuse of process continues unabated*
Secret deals sideline competition authorities
In what can only be described as a significant step backwards in ensuring that the more established of the emerging economies enforce the (...)
The Australian Competition Authority prohibits the acquisition of two power stations by the main electricity retailer (AGL Energy / Macquarie Generation)
ACCC opposes AGL’s proposed acquisition of Macquarie Generation*
The Australian Competition and Consumer Commission has today announced that it will oppose the acquisition of the assets of Macquarie Generation by AGL Energy Limited (AGL). The ACCC considers that the proposed acquisition is (...)
The Rotterdam District Court upholds the decision of the Dutch Competition Authority blocking a merger in the rusk and gingerbread sector (A.A. ter Beek / Continental Bakeries)
1. Introduction
On 14 December 2012, the Dutch Competition Authority (formerly "NMa", currently "ACM") blocked the proposed acquisition of A.A. ter Beek B.V. by Continental Bakeries B.V. (jointly the "Parties") (the "Merger") . Both companies are involved in the production of rusk and (...)
The UK Parliament proposes Ofcom to be provided with decision-making powers in mergers raising media plurality concerns
Article published on Centre for Competition Policy blog.
Ofcom: A Credible Solution to Bias in Media Public Interest Mergers?*
On 4 February, the House of Lords Select Committee on Communications published its Report on Media Plurality proposing a number of changes to media ownership (...)
The US FTC challenges a merger in the hospital sector between a physician practice group and a hospital (Saint Alphonsus Medical Center-Nampa / St. Luke’s Health System)
In late January, the U.S. Federal Trade Commission (FTC) prevailed in a challenge to a hospital merger involving an issue of great significance to the current health care marketplace: the acquisition of physician practice groups. In Saint Alphonsus Medical Center-Nampa v. St. Luke’s Health (...)
The Moscow Arbitration Court upholds the decision of the Russian Competition Authority refusing to approve a merger in the electric power sector (Gazprombank / Moesk)
The Supreme Arbitration Court of the Russian Federation pronounced legitimacy of a refusal to satisfy a transaction by “Gazprombank” OJSC*
On 24th January 2014, the Supreme Arbitration Court (VAC) of the Russian Federation dismissed a claim of “Gazprombank” OJSC to transfer a case to the (...)
The Australian Competition Authority opposes a proposed acquisition in the radiology sector (Delta Imaging / Sonic Health)
ACCC to oppose Sonic’s acquisition of the assets of Delta Imaging Group*
The Australian Competition and Consumer Commission has announced it will oppose the proposed acquisition by Sonic Healthcare Limited (Sonic) of assets of Delta Imaging Pty Limited (in liquidation), Delta Imaging (...)
The US District Court for the Northern District of California rules against a non-reported acquisition in the sector of product ratings and review platforms (Bazaarvoice / PowerReviews)
Combination of online consumer review platforms Bazaarvoice and PowerReviews found to violate Clayton Act*
Last week, the federal district court in San Francisco ruled that Bazaarvoice Inc.’s June 2012 acquisition of PowerReviews Inc. violated Sec. 7 of the Clayton Act. In a “necessarily (...)
The US District Court for the Northern District of California finds evidence that the merging parties expected the transaction to have anticompetitive effects (Bazaarvoice / PowerReviews)
Another Example of Why You Should Follow the “New York Times” Rule — the Bazaarvoice Decision*
Have you heard of the New York Times rule? The rule is: don’t write something down in a business communication unless you’re comfortable with its text appearing in the New York Times. If everyone (...)
The US Court of the Northern District of California decides against the acquisition of a competitor on the basis that it would lead to anticompetitive effects in the sector of product ratings and review platforms (Bazaarvoice / PowerReviews)
JUDGE RULES IN FAVOR OF DOJ FINDING BAZAARVOICE/POWERREVIEWS MERGER ANTICOMPETITIVE*
On January 8, 2014, Judge Orrick of the Northern District of California ruled that Bazaarvoice’s acquisition of competitor PowerReviews violated Section 7 of the Clayton Act. The ruling was in favor of the (...)
The Irish Competition Authority publishes revised guidelines for merger analysis
Competition Authority publishes new Merger Guidelines*
The Competition Authority has published revised Guidelines for Merger Analysis. They give guidance on how the Competition Authority decides whether or not a merger will substantially lessen competition, and therefore whether it can go (...)
The South African Constitutional Court sets aside a costs order decided by the Competition Appeal Court to overturn a merger prohibition decision (Pioneer Hi-Bred International / Pannar Seeds)
How to (almost) gut an agency – the final twist in the maize seeds case?*
On 18 December 2013, the Constitutional Court of South Africa (“Constitutional Court”) handed down its decision in an appeal by the Competition Commission (“Commission”) against an unprecedented costs order imposed by (...)
The EU Commission issues a reform package to simplify and streamline the EU merger control regime
EUROPEAN COMMISSION SIMPLIFIES ASPECTS OF EU MERGER CONTROL*
The European Commission (Commission) has issued a package of measures (the Reform Package), the rationale for which is to simplify and streamline EU merger control. The Reform Package does this by extending “simplified” treatment (...)
The UK Competition Authority finds there is insufficient evidence that a merger in the hospital sector could provide specific benefits for patients which would outweigh the harm from the loss of competition and choice (Dorset Foundation Trusts)
Article published on Centre for Competition Policy blog.
The Meaning of ‘Relevant Customer Benefits’ in the Context of Health Care: Monitor’s Advice and the Competition Commission’s Response to the Dorset Foundation Trusts’ merger*
On 17 October, the Competition Commission (CC) blocked (...)
The Lithuanian Competition Authority prohibits a merger in the markets foreign language teaching material and school textbooks (AL Holding / Humanitas)
Background On 16 May 2013, the Lithuanian Competition Council received request of UAB AL Holding to acquire up to 100 percent of the shares of UAB “Humanitas”. On 11 October 2013, the Lithuanian Competition Council passed resolution that procedure concerning evaluation of the request of UAB AL (...)
The Lithuanian Competition Authority sends a warning to an oil company suspected of having implemented a merger without previous notification (Lukoil Baltija)
Competition Council closes investigation on possibly unnotified mergers implemented by UAB Lukoil Baltija within the market of fuel retail trade*
On November 6, the Competition Council (the Council) sent a Statement of Objections to UAB Lukoil Baltija suspected of having infringed the Law on (...)
The OECD holds a roundtable on remedies in cross-border merger cases
Executive summary, by the Secretariat *
Considering the discussion at the roundtable, the Note by the Secretariat as well as the delegates’ written submissions, several key points emerge:
(1) Cross-border mergers raise specific challenges for competition authorities reviewing the (...)
The Australian Competition Authority releases new guidelines for merger review
ACCC publishes updated informal merger review process guidelines*
The Australian Competition and Consumer Commission has released the ACCC’s Informal Merger Review Process Guidelines 2013. This follows a consultation process on a draft of the Guidelines with key stakeholders in July, (...)
The Irish Competition Authority launches a public consultation on the new draft merger guidelines
Competition Authority public consultation on Merger Guidelines *
The Competition Authority launches a public consultation on draft revised merger guidelines which aim to provide guidance on how we investigate and analyse mergers and acquisitions when deciding whether or not they will (...)
The EU Commission conditionally clears a merger between two US commercial airlines while the US DOJ sues to block the transaction (US Airways / American Airlines)
On 5 August 2013, the European Commission conditionally approved the proposed merger between US Airways Group and AMR Corporation, the parent company of American Airlines. Both US Airways and American Airlines are major US commercial airlines.
The Commission examined the competitive (...)
The German Competition Authority prohibits a previously approved acquisition in the healthcare sector as the acquirer no longer intends to comply with conditions for clearance (Asklepios / Rhön)
Participation of Asklepios Group in rival Rhön-Klinikum retroactively prohibited - Asklepios no longer intends to comply with condition for clearance (sale of Goslar clinics)*
Bonn, 30 July 2013: In spring this year the Bundeskartellamt approved plans by Asklepios Kliniken (...)
The Namibian Competition Authority prohibits merger deal in the energy sector under the new merger control regime (Namox / Puma)
On 22 July 2013, the Competition Commission of Namibia prohibited the acquisition of Puma Pty Ltd’s Liquified Petroleum Gas (LPG) by Namox Pty Ltd for two main reasons: (i) the merger would have increased the concentration and consolidated the dominant position of the merged entity in the (...)
The Swedish Competition Authority requests the prohibition of an acquisition in the wholesale services market for locksmiths (Assa Abloy / Prokey)
On 12 July 2013, the Swedish Competition Authority (SCA) announced that it has submitted an application to the Stockholm City Court requesting the prohibition of a planned acquisition of locksmiths company Prokey AB by Assa Abloy AB.
Prokey is one of two companies active in the (...)
The Swedish Competition Authority seeks to block acquisition in the wholesale services market for locksmiths (Assa Abloy / Prokey)
The Swedish Competition Authority want to stop Assa Abloy from acquiring Prokey*
The planned acquisition of Prokey AB by Assa Abloy AB means that Assa Abloy would gain a monopoly position in the wholesale services market for locksmiths. The Swedish Competition Authority is therefore taking (...)
The EU Commission opens consultations seeking views on possible improvements of the merger regulation, in particular extending its scope to the acquisition of non-controlling minority shareholdings
Minority Report? The EC’s public consultation on minority shareholdings*
On 25 June 2013, the European Commission launched a public consultation entitled “Towards more effective EU Merger Control” in which the Commission proposes to (i) expand its powers to review non-controlling minority (...)
The Finnish Competition Authority investigates the market impact of an acquisition on the pay-TV market (DNA & Plus TV)
FCCA to investigate the market impact of deal between DNA and PlusTV*
The Finnish Competition and Consumer Authority (FCCA) decided on 24 June 2013 to initiate further proceedings concerning an acquisition that will give DNA Oy a controlling interest in Digi TV Plus Oy.
Both parties of the (...)
The UK Competition Appeal Tribunal upholds the Competition Authority’s decision to prohibit the merger of two foreign companies in the supply market of metal packaging coatings for beer and beverage cans (Akzo Nobel / Metlac)
On 21 June 2013, the Competition Appeal Tribunal (the “CAT”) upheld the UK Competition Commission’s (“CC”) finding on 21 December 2012 that Akzo Nobel N.V.’s (“Akzo Nobel”) proposed acquisition of Metlac Holding S.r.l. (“Metlac Holding”) would lead to a substantial lessening of competition in (...)
The UK Competition Authority rules that the operators of channel tunnel between Great Britain and France may no longer offer ferry services from Dover (Eurotunnel / SeaFrance / MyFerryLink)
The UK Competition Commission (“CC”) has prohibited Eurotunnel from operating ferry services at the port of Dover, following its June 2012 acquisition of three SeaFrance vessels. The decision is notable for two reasons. First, this decision differed from that of the French Competition (...)
The Finish Competition Authority welcomes the Market Court’s decision to conditionnally approve a merger between two suppliers of plastic infrastructure pipe systems (Uponor / KWH)
Competition and Consumer Authority welcomes Market Court decision in Uponor/KWH matter*
The Finnish Market Court decided in its ruling on May 24, 2013 to set stringent conditions for a corporate acquisition deal by Uponor and KWH Group. The court ruled in accordance with a proposal made by (...)
The US DoJ drops its case seeking to block a proposed acquisition of the remaining shares of a large brewery in Mexico (AB InBev / Grupo Modelo)
This article was originally published on In Competition by King & Wood Mallesons (click here).
Cheers for the beers*
The US Department of Justice (DoJ) has dropped its case seeking to block Anheuser-Busch InBev’s (AB InBev) proposed acquisition of the remaining shares in Grupo Modelo (...)
The Italian Competition Authority applies the bidding markets analysis to block a merger in the gas distribution services sector (Italgas / Acegas-APS / Isontina Reti Gas)
By a decision made on 17 April 2013 the Italian Competition Authority (ICA) has prohibited the Italgas and Acegas-APS acquisition of the joint control of Isontina Reti Gas (IRG). The ICA believed that the notified transaction would strengthen the dominant position of Italgas and Acegas-APS in (...)
The Chinese MOFCOM issues two sets of draft rules regarding merger control and makes them subject to public consultation
MOFCOM Speeds Up the Rule-Making Process*
The week before the Chinese Qingming Festival, MOFCOM published two sets of draft rules regarding merger control for public consultation, namely, Provisions on Imposing Restrictive Conditions on Concentration of Undertakings (“Provisions on Imposing (...)
The Chinese MOFCOM publishes for public comment draft rules regarding the imposition of restrictive conditions on concentrations of undertakings
Path towards A More Streamlined Merger Control System – MOFCOM Publishes Draft Rules on Merger Remedies*
To increase clarity and transparency on the merger remedy regime under the Anti-Monopoly Law (“AML“), China’s Ministry of Commerce (“MOFCOM“) published the draft Rules Regarding (...)
The UK Competition Authority may require an airline sell its minority shareholding to its rival company (Ryanair / Aer Lingus)
On 28 February 2013 (one day after the European Commission blocked Ryanair’s third attempt to acquire Aer Lingus), the UK Competition Commission (“CC”) announced that it will reopen a long-running inquiry into Ryanair’s acquisition of a minority stake in Aer Lingus. This investigation has (...)
The EU Commission prohibits a low-cost airline’s third attempt to acquire its competitor (Ryanair / Aer Lingus)
On 27 February 2013, the European Commission prohibited Irish low-cost airline Ryanair’s proposed acquisition of former Irish flag carrier Aer Lingus. Extensive remedy proposals proved insufficient to sway the Commission, which considered the two firms to be each other’s closest – and on (...)
The German Regional Court of Cologne rejects a damages claim made by a hearing aid manufacturer against the Competition Authority’s merger prohibition decision (GN Store Nord)
In a judgment of 26 February 2013, the German Regional Court of Cologne rejected an action for damages in the amount of more than € 1.1 billion by Danish hearing-aid manufacturer GN Store Nord A/S against the German Federal Cartel Office (FCO). GN Store sought compensation from the FCO (...)
The COMESA Competition Commission issues new guidance relating to the amended merger notification requirements
Clarification of COMESA merger regime filing fee*
Yesterday, on 26. February 2013, the COMESA Competition Commission issued new guidance relating to the amended merger notification requirements, as follows. Note especially the clarification on the “higher of / lower of” filing fee issue that (...)
The Finnish Competition Authority argues in Court against a merger between two suppliers of plastic infrastructure pipe systems (Uponor / KWH-Yhtymä)
On 25 February 2013, the Finnish Competition and Consumer Authority (“FCCA”) made a proposal to the Market Court to prohibit a planned concentration between Uponor Oyj and KWH-Yhtymä Oyj, the two largest suppliers of plastic infrastructure pipe systems in Finland. This is only the third (...)
The German Competition Authority prohibits a merger between cable network operators (Tele Columbus / Kabel Deutschland)
On 22 February 2013, the German Federal Cartel Office (“FCO”) prohibited the proposed acquisition of Germany’s third-largest cable network operator, Tele Columbus GmbH (“Tele Columbus”), by the country’s biggest cable network operator, Kabel Deutschland Holding AG (“Kabel Deutschland”). (...)
The German Competition Authority prohibits a merger between two major TV-cable network operators (Tele Columbus / Kabel Deutschland)
Bundeskartellamt prohibits takeover of Tele Columbus by Kabel Deutschland*
The Bundeskartellamt has prohibited plans by Kabel Deutschland Holding AG (KDG) to acquire the cable network operator Tele Columbus GmbH.
Andreas Mundt, President of the Bundeskartellamt: ""After intensive (...)
The US DOJ sues to block merger between two leading brewers (AB InBev / Grupo Modelo)
The Department of Justice ("DOJ") has filed a civil antitrust lawsuit challenging the $20 billion proposed acquisition by Anheuser-Bush InBev ("ABI") of the remaining 50 percent interest in Grupo Modelo S.A.B. de C.V. ("Modelo"), the producer of Corona Extra, the best-selling imported beer in (...)
The EU Commission prohibits a merger due to a lack of verifiable arguments on efficiencies (UPS / TNT Express)
On 7 May 2014, the European Commission published a summary version of its 30 January 2013 decision prohibiting the acquisition of package delivery service TNT Express by rival United Parcel Service (UPS) (see VBB on Competition Law, Volume 2013, No. 1). The Commission had prohibited the deal (...)
The EU Commission blocks a proposed acquisition in the express mail service sector (UPS / TNT)
Thoughts on the Commission’s Decision in UPS/TNT*
My back of the envelope analysis of the Commission’s prohibition decision in UPS/TNT, following yesterday’s GCLC lunch talk.
Some facts first - With this decision, the Commission prohibited a merger to duopoly in the express mail business. (...)
The German Competition Authority imposes a fine of 90.000 € for an incomplete notification regarding the acquisition of a slaughtering company (Clemens Tönnies)
Clemens Tönnies fined for incomplete notification of a merger*
The Bundeskartellamt has imposed a fine of 90,000 euros on Mr Clemens Tönnies (senior) for the incomplete notification of the acquisition of the slaughtering company Tummel, Schöppingen, by his company group. The notification did (...)
The US DoJ challenges an acquisition by a market leader in product ratings and reviews the platforms of its alleged closest competitor (Bazaarvoice / PowerReviews)
On January 10, 2013, the U.S. Department of Justice sued Bazaarvoice, Inc. alleging that its acquisition of PowerReviews, Inc. in June 2012 violated Section 7 of the Clayton Act. The complaint alleges that Bazaarvoice was the market leader for product ratings and reviews platforms (PRR (...)
The Dutch Competition Authority blocks a merger between two companies involved in the production and sale of gingerbread and rusk to retailers on the Dutch market (A.A. ter Beek / Continental Bakeries)
1. Introduction In its decision of 14 December 2012, the Dutch Competition Authority (hereafter "NMa") blocked the proposed acquisition of A.A. ter Beek B.V. by Continental Bakeries B.V. (hereafter: "the ruskmerger"). Both companies are involved in the production and sale of gingerbread and (...)
The US FTC and the Pennsylvania Attorney General jointly opposes a proposed acquisition in the health care industry (RHS / SIR)
Large General Acute-Care Hospital Abandons Acquisition Of 15-Bed Surgical Specialty Center As A Result Of FTC Challenge*
Just three days after the Federal Trade Commission, jointly with the Pennsylvania Attorney General, issued an administrative complaint challenging Reading Health System’s (...)
The German Competition Authority prohibits a joint venture in chemicals trading sector (Chemie / Vertrieb)
Germany: The Bundeskartellamt prohibits Joint Venture in Chemicals Trading Sector*
On 21 November 2012, the Bundeskartellamt (BKartA) issued a prohibition decision concerning a joint venture of two chemicals trading companies.
The joint venture in question, CVH Chemie-Vertrieb GmbH & (...)
The German Competition Authority prohibits a hospital merger by rejecting the failing firm defence (Klinikum Worms / Hochstift hospitals)
On 5 October 2012, details were published concerning a 5 September 2012 decision by the German Federal Cartel Office (“FCO”) prohibiting a proposed merger between two hospitals in Worms, a city on the west bank of the Rhine River in southwest Germany. According to the FCO, the proposed (...)
The Irish Competition Authority blocks an acquisition in the book selling business (Eason / Argosy)
Competition Authority intervenes to protect competition in book sales*
On 1 October 2012 Eason & Son Limited and Argosy Libraries Limited have confirmed to the Competition Authority that they will not implement the proposed transaction whereby Eason would acquire certain assets of (...)
The US FTC seeks divestiture and conduct remedies before approving an acquisition in the highly concentrated market of commercial real estate information (CoStar / Loopnet)
After a year of scrutiny, the Federal Trade Commission (FTC) resolved its competitive concerns over the merger of two firms that provide commercial real estate (CRE) listings and other data. In April 2011, CoStar Group, Inc. announced plans to acquire LoopNet, Inc. for approximately $860 (...)
The US FTC imposes divestiture and unusual conduct remedies to protect competition after an acquisition in commercial real estate databases and information services (CoStar / Loopnet)
On April 26, 2012, the FTC challenged CoStar Group’s proposed $860 million acquisition of LoopNet and accepted a settlement that required not only divestitures, but also “unusual” additional conduct remedies. CoStar is the largest provider of commercial real estate (CRE) information services (...)