The German Federal Court of Justice finds a merger lawful, reversing the Court of Appeal’s prohibition ruling (Phonak / GN Store)

The German Federal Court of Justice (the Bundesgerichtshof or “BGH”) in its decision dated April 20, 2010 held that the intended acquisition by Swiss Phonak Holding (today Sonova Holding AG, hereinafter referred to as “Phonak”) of GN ReSound-Group (“GN ReSound”) from the Danish firm GN Store Nord A/S (“GN Store”) would have been lawful, thereby reversing the Court of Appeal's ruling [1]. The Court of Appeal had upheld the 2007 prohibition decision of the German Federal Cartel Office (the “FCO”) on grounds that the intended acquisition would have strengthened an existing oligopoly on the domestic market for hearing aids [2]. Even though the parties abandoned the intended acquisition, Phonak and GN Store appealed the FCO's prohibition decision to the Court of Appeal on the basis that the FCO's

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Auteur

  • Allen & Overy (Hamburg)

Citation

Börries Ahrens, The German Federal Court of Justice finds a merger lawful, reversing the Court of Appeal’s prohibition ruling (Phonak / GN Store), 20 avril 2010, e-Competitions April 2010, Art. N° 31621

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