LEGAL PRACTICE: ICN - RECOMMENDED PRACTICES - MERGERS - NOTIFICATION

Surveying the surveys – The drive for implementation of the ICN’s recommended practices for merger notification and review procedures

One of the first and most enduring work products of the ICN is the Merger Working Group’s Recommended Practices for Merger Notification and Review Procedures. Since their initial release in the early 2000s, the Recommended Practices have undergone a number of changes and a number of surveys have been made to gauge their success. This essay reviews those surveys and the progress that has been made towards implementation of the Recommended Practices by ICN members. A number of suggestions are also made as to further work the ICN can undertake to utilise the valuable data in the surveys to help drive implementation efforts and to ensure that the Recommended Practices continue to reflect the reality of modern merger control.

I. Introduction 1. Let’s take a quick trip back in time to the late 1990s before there was an International Competition Network (“ICN”). There was a merger boom and a boom in the number of merger control regimes around the world. The proliferation occurred in an uncoordinated fashion and there was no consensus on global “best practice” with regard to the key issue of procedure—which deals should be notified, when, where, why or how. This rapid and uncoordinated expansion of merger control globally inevitably led to a divergence of approaches to the notification requirements and review procedures across jurisdictions. This, in turn, led to significant difficulties and uncertainties for advisors and companies trying to assess the notifiability of a transaction and coordinating multiple

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Authors

  • Bryan Cave Leighton Paisner (Brussels)
  • Bryan Cave Leighton Paisner (Brussels)

Quotation

Dave Anderson, Paul Culliford, Surveying the surveys – The drive for implementation of the ICN’s recommended practices for merger notification and review procedures, September 2020, Concurrences N° 3-2020, Art. N° 95408, www.concurrences.com

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