Conditional clearance: The European Commission approves a merger, subject to conditions, while non-coordinated effects are not well defined (Kuraray / GLSV Business)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. Faced with a reduction from four to three competitors or, worse, from three to two competitors, a competition authority must be vigilant. These market developments, more often referred to in English as "four to three" or "three to two" - more rarely referred to in French as "quatre-à-trois" or "trois-à-deux" - result in the creation of a triopoly or, worse still, a duopoly. At this level of concentration, the disappearance of one player can certainly change the dynamics of the market. If this change in market structure is worrying for the functioning of the market, and this is indeed sometimes the case, the competition authority must clearly state the reasons