Commission at the end of a Phase I investigation. It is therefore essential that you do not deviate from the template in order to avoid any delay in the market investigation. For JV and ECSC cases (old cases not available via the search page) follow this link: JV and ECSC cases. The status of merger notifications, deadlines and published documents (such as decisions or press releases) can be consulted for all notified mergers on the competition website. Information and communication technologies, Best Practice Guidelines on merger control proceedings. The legal basis for EU Merger Control is Council Regulation (EC) No 139/2004, the EU Merger Regulation. delivered to a destination outside the EEA. All decisions and procedural conduct of the Commission are subject to review by the General Court and ultimately by the Court of Justice. The European Commission (EC) did not obtain merger control authority, however, until 1989, Council Regulation (EC) No 139/2004 of 20 January 2004 on the control of concentrations between undertakings (the EC Merger Regulation) (Text with EEA relevance) Official Journal L 024 , … In carrying out its duties the Commission may obtain all necessary information from relevant persons, undertakings, associations of undertakings and competent authorities of Member States. There are two alternative ways to reach turnover thresholds for EU dimension. Assessment of horizontal mergers 9 In the EU: Objective of EU merger control: identify those mergers likely to have a negative impact on competition (e.g. higher prices for consumers) Market shares = initial filter BUT EC will look at a range of factors, including closeness of competition Outside the EU: EC confirms “in-depth investigation” of Aon / WTW merger 21st December 2020 - Author: Luke Gallin The European Commission (EC) has now confirmed that it has opened what it calls an “in-depth investigation” of insurance and reinsurance broker Aon’s proposed acquisition of rival Willis Towers Watson (WTW). First, the claimed efficiencies must be verifiable (such as that the Commission can be reasonably certain that they will materialise and be substantial enough). Towards the end of phase I, a "state-of-play meeting" is typically held, where the Commission informs them about the results of the phase I investigation. All EU Memb… The companies or other parties demonstrating an interest can appeal within 2 months of the decision. The Commission concluded that it was better placed to … Companies may offer remedies in phase I or in phase II. Companies may contact the Commission beforehand to see how to best prepare their notification. EU merger control for certain transactions with a "Community dimension", which fall within the jurisdiction of the European Commission (the "Commission") under Council Regulation (EC) No. s part of its investigation, the EC undertook a market reconstruction exercise, following precedent A The Commission updates the companies regularly about the process. Above those market share thresholds, the Commission carries out a full. The UK Competition and Markets Authority (CMA) has asked the European Commission (EC) to refer the proposed merger of Virgin Media and O2 UK to the CMA for investigation.. Requests for information to third parties are generally sent using the contact details that the notifying party(ies) provides within the Form CO. Although Electrabel acquired its shares in CNR in June 2003, its initial shareholding did not give Electrabel control (as defined under the EC Merger Regulation) of CNR, and consequently, did not require notification and approval under the EC Merger Regulation. Best Practice Guidelines on merger control proceedings : see the sections on "information to be provided/preparing the Form CO" and "Fact finding/requests for information". (ii) an EU-wide turnover for each of at least two of the firms over €250 million. US-EU Merger Working Group BEST PRACTICES ON COOPERATION IN MERGER INVESTIGATIONS This document sets forth best practices which the United States federal antitrust agencies and the Commission of the European Union will seek to apply, to the extent consistent with their respective laws and enforcement responsibilities, when they simultaneously review the same merger … An independent trustee is then appointed to oversee compliance with these commitments. If the positive effects of such efficiencies for consumers would outweigh the mergers' negative effects, the merger can be cleared. A phase I review may involve the following: The Commission keeps the merging companies informed about the progress if its analysis. For latest updates of cases follow this link updates of cases. On this page you can search for all merger cases. For over 28 years EC M&A has advised firms across US, Europe and Asia on mergers, acquisitions and divestitures. Third, the efficiencies must be likely passed-on to consumers, and not only recapped by the merging companies alone. Friesland Foods/Campina, Ryanair/Aer Lingus, and several vertical mergers such as Nokia/Navteq and TomTom/Tele Atlas). From the opening of a Phase II investigation, the Commission has 90 working days to make a final decision on the compatibility of the planned transaction with the EU Merger Regulation. they cannot be achieved by other means than by a merger). Skip to main content Toggle navigation. In both alternatives, an EU dimension is not met if each of the firms archives more than two thirds of its EU-wide turnover within one and the same Member State. Following the phase II investigation, the Commission may either: All final decisions - in both phase I and phase II - are published on the competition website, after references to the companies' confidential business information has been removed. The European Commission has acceded to a request by the UK competition regulator, the CMA, to review the planned merger between Liberty Global-owned Virgin Media and Telefónica’s O2. (i) a worldwide turnover of all the merging firms over €2 500 million, and. The CMA lodged its request soon after the EU started its investigation into the merger in October. According to section 1.4 of Annex I to the Implementing Regulation (Regulation 802/2004): "contact details must be provided in a format provided by the Commission's Directorate-General for Competition (DG Competition)." If the notifying parties do not provide an important piece of information which the Commission has requested from them, the clock can be stopped until such missing information is supplied. The Commission's initial market investigation showed that the merged entity would have very high market shares for services to some destinations leading to potential competition concerns. The Commission’s investigation is mainly conducted in the form of written Requests for Information (requests pursuant to Article 11 of Regulation 139/2004). ICLG - Merger Control Laws and Regulations - European Union covers common issues in merger control laws and regulations – including relevant authorities and legislation, notification and its impact on the transaction timetable, remedies, appeals and enforcement and substantive assessment – in 40 jurisdictions. This is a premium article and requires an active Key Modern Railways subscription. Second, the efficiencies must be merger specific (i.e. Subscribe now; Sign In ... EC INVESTIGATING MERGER Want to read more? This guarantees an independent judicial oversight and ensures that all rights of defence available to the companies are fully respected. European Commission - Press Release details page - European Commission Press release Brussels, 30 January 2014 The European Commission has rejected a request from Germany to refer the planned acquisition of E-Plus by Telefónica Deutschland (Telefónica) to the German competition authority for assessment under German competition law. Further extensions of up to 20 working days can be granted on request by, or with the agreement of, the notifying parties. For all Merger cases use the Search page For JV and ECSC cases (old cases not available via the search page) follow this link: JV and ECSC cases. It is cooperating actively with other agencies such as the US Federal Trade Commission and US Department of Justice. They have the right to consult the Commission's case file and to request an oral hearing which is conducted independently by the competition Hearing Officer. This process sometimes takes several months. Phase II is an in-depth analysis of the merger's effects on competition and requires more time. latest updates on all cases within the last 3 months. The information is being updated on a daily basis. Requests for information are now being increasingly handled using the new Commission's electronic platform for market investigations (for more information, see eQuestionnaire) as well as by e-mail or fax. There are pre-prepared templates used to notify their mergers, based on the complexity of the case. (ii) a combined turnover of all the merging firms over € 100 million in each of at least three Member States, (iii) a turnover of over €25 million for each of at least two of the firms in each of the three Member States included under ii, and. Mergers & Acquisitions. We use a dataset of 2953 Phase I and 92 Phase II investigations completed by the European Commission (EC) between 1999 and 2008 to examine the key determinants of their duration. For merger investigations, please always submit the contact details in advance as a draft together with the draft Form CO. (iv) EU-wide turnover of each of at least two firms of more than €100 million. This allows the companies to benefit from a one-stop-shop review and to allocate the case to the most appropriate authority. EC to open in-depth investigation in GE-Alstom merger. The European Commission has opened an in-depth investigation into Liberty Global's proposed takeover of Dutch cable operator Ziggo. This report is based on publicly available versions of merger decisions (not all of them being available at the Mergers Merger Cases. A phase II investigation typically involves more extensive information gathering, including companies' internal documents, extensive economic data, more detailed questionnaires to market participants, and/or site visits. Parties then have the right to respond to the SO in writing within a certain period. Requests for information from the merging companies or third parties; Questionnaires to competitors or customers seeking their views on the merger, as well as other contacts with market participants, aimed at clarifying the conditions for competition in a given market or the role of the merged companies in that market. The regulation prohibits mergers and acquisitions which would significantly reduce competition in the Single Market, for example if they would create dominant companies that are likely to raise prices for consumers. If the merging firms are not operating in the same or related markets, or if they have only very small market shares not reaching specified. Mergers Practical information > Market investigations. If remedies are accepted, they become binding upon the companies. European Commission - Press Release details page - European Commission Press release Brussels, 20 December 2013 The European Commission has opened an in-depth investigation to assess whether the planned acquisition of E-Plus of Germany by Telefónica Deutschland (Telefónica) is in line with the EU Merger Regulation. European Commission - Press Release details page - European Commission - Press release Brussels, 14 January 2015 The European Commission has opened an in-depth investigation to assess whether the proposed creation of a joint venture between three collective rights management organisations (CMOs) in the online licensing of musical works is in line with the EU Merger Regulation. Howard and Andrew G. Simpson | February 9, 2021 Email This Subscribe to Newsletter The market share thresholds are: 15% combined market shares on any market where they both compete, or 25% market shares on vertically related markets. However, the EC’s website states, “Deadline suspended under Article 11(3) from 08.02.2021,” which effectively means that the provisional deadline they had originally been targeting is suspended. This can be extended by an additional 15 working days if the notifying parties offer commitments later in phase II (i.e. In carrying out its duties the Commission may obtain all necessary information from relevant persons, undertakings, associations of undertakings and competent authorities of Member States. Questionnaires in a market investigation are sent out electronically on the basis of this template. However, whilst econometric analysis is regularly used to assess unilateral effects, it is still somewhat controversial, especially in the context of efficiency claims. Most corporate events have life changing consequences for those involved. EC Opens In-Depth Investigation Into Proposed Cargill/ADM Merger 24 Feb 2015 --- The European Commission has opened an in-depth investigation to assess whether the proposed acquisition of the industrial chocolate business of Archer Daniels Midland (" ADM ") by Cargill is in line with the EU Merger … EC merger analysis. GE and Alstom agreed the merger deal in June 2014. recent developments in ec merger control reform: (1) proposed amendments to the merger control regulation, and (2) proposed guidelines for the analysis of horizontal mergers kenneth r. logan, david e. vann jr., ethan e. litwin & olivier antoine simpson thacher & bartlett llp january 2003 overview of ec merger control reform in december 2001, the european commission issued a green paper proposing Each merger case has a page indicating the provisional deadline of the investigation (depending on the stage of the procedure) and containing links to all documents made public by the Commission. In particular, the EC’s concerns were that the merger would leave only two remaining competitors, DHL and UPS, to compete for business customers and consumers. The merger still raises competition concerns and the Commission opens a. In phase II the Commission … After notification, the Commission has 25 working days to analyse the deal during the phase I investigation. It is opened when the case cannot be resolved in Phase I, i.e. On this page you can see all currently open merger cases. More than 90% of all cases are resolved in Phase I, generally without remedies. after the 55th working day of the case). EC Pauses Investigation; CEO Says Aon-Willis Merger Still on Track to Close in 1st Half By L.S. Merger remedies are typically formalized or codified in some form to ensure enforceability by a court or administrative body. If there are competition concerns, companies can offer remedies, which extends the phase I deadline by 10 working days. For latest updates of cases follow this link updates of cases. Decisions only become public once they have been cleared of confidential information (in particular business secrets).
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