GUN-JUMPING IN VOLUNTARY MERGER REGIMES: THE RISKS KEEPING GLOBAL TRANSACTIONS IN SUSPENSE* Much has been written of the heightened risk of gun-jumping enforcement by competition regulators overseeing mandatory suspensory merger regimes. This article will examine why merger parties and their advisers must also be alive to ‘gun-jumping’ risks in jurisdictions where pre-merger notification is voluntary and there are no automatic standstill obligations. Alongside the succession of ‘gun-jumping’ cases in the UK during the past year, including the record fine against PayPal (£250,000) for failing to comply with an interim enforcement order, the Australian Cryosite Case underscores the need for merger parties to remain as independent competitors until closing. The consequences of failing to do
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