Merger control has developed and expanded as many transactions today are subject to merger control in at least one country. Compliance with merger control provisions is essential. Firstly, because antitrust authorities have begun to enforce merger control notification obligations by imposing steadily growing fines. Secondly, because the legal validity of transactions often depends on the transaction having been cleared by anti-trust authorities prior to their implementation.
Most merger control regimes in Europe set fixed deadlines within which antitrust authorities may review a transaction and require closing of a transaction to be suspended until the transaction has been cleared. The timing of your transaction is, therefore, of major importance. Being aware of merger control notification obligations can help you save time and costs!
The experts of the CMS Competition Practice Group have put together a compact and user-friendly CMS Guide to Merger Control in Europe 2014 that provides an overview over 44 merger control regimes in Europe (including merger control under the EU Merger Control Regulations and the EEA-Agreement). The Guide is the only one of its kind covering all European merger control regimes and is tailored to practitioners’ needs by answering the following questions:
- Which authority is to be notified and what is the source for merger control regulations?
- Is a notification mandatory or voluntary?
- When do you need to notify?
- What are the thresholds?
- Who is obliged to notify?
- What are the consequences of:
- failure to notify,
- implementing the transaction despite an obligation to suspend until clearance; and
- implementing the transaction despite a prohibition decision?
- What are the stages of merger control?
- Are foreign-to-foreign mergers caught?
- How are JVs treated?
For the first time CMS has co-published an online version as an e-Guide, which complements the printed version of the guide with possibilities to browse, mark up and comment the Guide and share its content. You can find the e-Guide at http://eguides.cmslegal.com/mergercontrol
If you are interested in learning more about the CMS Guide to Merger Control in Europe 2014 or if you wish to order your personal copy, please contact Rupert Hartzhauser at [email protected]