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Risky business: are you complying with merger control requirements?


If you are involved in a merger, the fourth edition of the CMS Guide to Merger Control in Europe 2009 could save you time and money.

Almost all European countries have implemented merger control regimes. Increasingly, competition authorities across Europe are imposing hefty fines for companies that fail to follow the rules. Most recently, the European Commission demonstrated this by imposing a fine of EUR 20m on a company for having implemented an acquisition without prior approval from Brussels. In some cases, authorities are delaying approval of mergers because parties fail to comply with filing requirements. A panel discussion at the 3 June 2009 meeting of the International Competition Network (ICN) suggested that competition authorities appear unlikely to take a more lenient approach during the economic crisis.

The CMS Guide to Merger Control in Europe 2009 draws on the experience and expertise of CMS competition lawyers and others to provide comprehensive information and analysis across all 44 European merger control regimes. This one-of-a-kind guide answers:

  • Which types of transaction are covered?
  • Are foreign-to-foreign mergers caught?
  • What are the thresholds?
  • Is notification mandatory or voluntary?
  • What is the substantive test for clearance?
  • What are the procedural time limits?
  • Can other parties be involved and what confidentiality protection applies?
  • What are the fees?
  • What are the consequences of:
    - not filing,
    - putting the transaction into effect despite an obligation to suspend until clearance, and
    - putting the transaction into effect despite a prohibition decision?

For further information, please contact :

CMS Bureau Francis Lefebvre
Florence Jouffroy : +33 1 47 38 40 32/ [email protected]
Sylvia Morillo-Sierka : +33 1 47 38 41 86 / [email protected]

Financial Dynamics
Florence de Montmarin + 33 1 47 03 68 63 / [email protected]

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