CASE COMMENTS: MERGERS – EUROPEAN UNION – FAILURE TO NOTIFY – BREACH OF THE STANDSTILL OBLIGATION – CONCURRENT OFFENSES

Concurrent offenses: The Court of Justice of the European Union confirms the possibility for the European Commission to simultaneously impose on the same company two separate fines for failure to notify a transaction and for implementing that transaction prior to clearance (Mowi)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. The European Court of Justice ruling of 4 March 2020 marks the end of the Marine Harvest saga, namely the acquisition by Norwegian salmon producer and processor Marine Harvest (now Mowi ASA) of its competitor Morpol. On 18 December 2012, Marine Harvest acquired 48.5% of Morpol's capital from two legal entities controlled by the founder of Morpol. At the same time, it informed the Norwegian stock exchange authorities of its intention to make a public offer for the remaining shares in Morpol, whose securities were admitted to a regulated market. Three days later, Marine Harvest had pre-notified the European Commission of the operation, stating that if it

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Olivier Billard, Guillaume Fabre, Solène Hamon, Concurrent offenses: The Court of Justice of the European Union confirms the possibility for the European Commission to simultaneously impose on the same company two separate fines for failure to notify a transaction and for implementing that transaction prior to clearance (Mowi), 4 March 2020, Concurrences N° 2-2020, Art. N° 94890, pp. 118-121

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