Exchange of information and M&A under the aegis of competition authorities

The preparation and implementation of a merger or acquisition necessarily entails that the parties to that planned transaction share information with a view to defining the terms and assessing the interest of their agreement. By sharing a certain type of information that is considered as commercially sensitive, however, the parties could risk important penalties for infringing competition law. Certain precautionary measures, if correctly adapted to the transaction context, will allow such risks to be contained.

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. 1. At a time when an economic recovery seems to be on the horizon, external growth operations, which have been slowed down by the crisis, should increase. A significant number of them will be subject to prior authorisation by the competition authorities, given the lowering of certain controllability thresholds introduced by the law on the modernisation of the economy [1], particularly in the retail sector. 2. Competing undertakings wishing to carry out, or contemplating carrying out, a merger, acquisition or the creation of a joint venture (whether or not subject to prior authorisation by the competition authorities) will necessarily have to contact and

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