Asset acquisitions and mergers: Eurotunnel in the Supreme Court* The Supreme Court’s recent decision in Eurotunnel II ( UKHL 75) brings some much-needed clarity to what was becoming a rather opaque corner of the UK merger regime. It also contains statements of general principle which are bound to make it one of the most frequently-cited merger cases. The case concerns the circumstances in which an asset acquisition may constitute a merger. SeaFrance, a cross-channel ferry operator, had gone into liquidation and could not be sold as a going concern. Eurotunnel bought three ferries and various other assets. The OFT (now the CMA) investigated. In deciding whether the acquisition was a merger, the essential question under the Enterprise Act
The UK Supreme Court overturns the Competition Appeals Tribunal judgment on whether acquisition of assets upon liquidation is subject to merger control (Eurotunnel / SeaFrance / MyFerryLink)
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