A blog about the intersection of antitrust, foreign investment control, politics, and everything in between
As some reports indicate, M&A activities in the coming years could involve more targets in financial distress than in the past years. The most prominent example of that unfortunate ‘trend’ might be UBS’ acquisition of Credit Suisse. In that case, the European Commission granted a derogation from the standstill obligation allowing the parties to move … Continue reading Gun jumping: More freedom for targets in financial distress?
Last week I gave a presentation on antitrust trainings in an expert session (yes, I like the topic, see also my previous blog). One participant pointed out that one should catch people with antitrust examples from their everyday life to explain the general idea behind antitrust laws and why antitrust matters (and is of course … Continue reading How to explain the basic idea of antitrust
Today, the European Commission adopted a package to simplify its merger control process for transactions that do not raise concerns. Many practitioners will agree that in the past, opting to submit a simplified filing did not necessarily simplify or expedite a case. Let’s take a look at how the Commission intends to change that. Merger … Continue reading Simplifying EU merger control filings
The German beer cartel with all its tweaks and twists has been broadly covered both by legal magazines and “normal” newspapers. Unsurprisingly, beer manufacturers agreeing on price increases for one of Germany’s vital products definitely makes for good headlines in the news. Still, I would be remiss if I did not use the chance to … Continue reading The Kölsch saga – Klüngel? Or even more?
I must admit I am a huge fan of energy drinks. In case I really need to stay awake and focused, I tend to drink them already for breakfast, which some people in my immediate environment find a little peculiar. However, maybe that is why I took notice when news of a dawn raid at … Continue reading Does antitrust law set limits to wings?
There has been no shortage of decisions by European courts dealing with exclusionary abuses cases in recent years. To make these cases and the Commission's own experience more tangible, the Commission has announced the introduction of guidelines in this area. They will be the first of their kind dealing with Art. 102 TFEU (abuse of … Continue reading Exclusionary abuses – more guidance to come
Co-authored by Friederike Melters. Earlier this month, the European Court of Justice (ECJ) declared dawn raids by the European Commission invalid. The decisions confirm that a “procedural” step like a dawn raid can be appealed by itself and that it can be invalid because of previous procedural mistakes. They tie in with other court decisions, … Continue reading Procedural errors – rich case law and five key takeaways
The question of whether two companies are potential competitors is key for the antitrust assessment of agreements and cooperations between those companies. While the assessment of potential competition is often not straightforward, the question has significant practical implications – not least with a view to the transformation in many industries and the corresponding number of … Continue reading The complexity of assessing potential competition
This week has seen two highlights in cartel investigations: Coordinated international dawn raids in the fragrance industry and a warning to small businesses that they are not exempt from antitrust enforcement. Here are the key reasons why both cases are important. For years, we have observed decreasing numbers of leniency applications, cartel cases and cartel … Continue reading Cartels are back!?
Today we are deviating from our usual pattern. Instead of dealing with a current case or political developments, I want to tell a short fictional story (roughly comparable to the ones I read to my children in the evening). The story has it all: a long-standing business relationship, great expectations and surprising twists. Once upon … Continue reading A regulatory nightmare?
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