On September 3, 2024, the European Union’s Court of Justice (ECJ) issued its highly anticipated judgment in the Illumina/Grail case (C-611/22 P and C-625/22 P) concerning the European Commission’s (EC’s) power to review...more
The United Kingdom’s Digital Markets, Competition and Consumers Act (the Act) received royal assent on 24 May 2024. The Act introduces wide-ranging amendments to the UK competition and consumer law regimes that expand the...more
5/29/2024
/ Anti-Competitive ,
Antitrust Provisions ,
Breach of Competition Law ,
Competition Act ,
Digital Markets Strategy ,
Enforcement ,
Investigations ,
Jurisdiction ,
Jurisdictional Thresholds ,
Merger Controls ,
Mergers ,
Misleading Statements ,
Penalties ,
Price Inflation ,
Safe Harbors ,
UK ,
UK Competition and Markets Authority (CMA)
For the first time in two decades, the UK Court of Appeal has ruled on the substantive standard of judicial review to be applied by the Competition Appeal Tribunal (CAT or Tribunal) in UK merger cases....more
On 25 April 2024, the UK Competition and Markets Authority (CMA) announced reforms to its in-depth merger control review process (the Phase 2 review). The updates include:
- An expanded de minimis exception. The CMA will...more
On November 20, 2023, the UK’s Competition and Markets Authority (CMA) announced proposed reforms to its in-depth merger control review process (the phase 2 review) that seek to provide more opportunities for engagement with...more
Starting today, October 12, 2023, the mandatory notification requirements under the EU’s Foreign Subsidies Regulation (FSR) apply. M&A deals involving businesses that (i) have been granted certain levels of financial support...more
On 12 July 2023, the EU’s Foreign Subsidies Regulation (FSR) entered into force. The FSR allows the European Commission (EC) to investigate and remedy subsidies received from non-EU countries that distort the EU internal...more
7/18/2023
/ Acquisitions ,
Disclosure Requirements ,
EU ,
European Commission ,
Filing Requirements ,
Financial Services Industry ,
Foreign Direct Investment ,
Foreign Subsidiaries ,
Investigations ,
Investment ,
Mergers ,
Pre-Merger Filing Requirements ,
Private Equity ,
Required Documentation ,
Subsidies
On 25 April 2023, the UK government published the Digital Markets, Competition and Consumers Bill (Bill), which will introduce wide-ranging amendments to the UK competition and consumer law regimes that expand the powers of...more
If you (i) receive some form of financial support from foreign (non-EU) governments, and (ii) have activities or are planning to acquire a business in the EU, then you will want to read on....more
7/13/2022
/ Competition ,
EU ,
European Commission ,
European Merger Control Regulation ,
Foreign Subsidies ,
Member State ,
Merger Controls ,
Mergers ,
Public Procurement Policies ,
State Aid ,
State-Owned Enterprises
On 31 May 2022, Skadden, Compass Lexecon and Concurrences convened for a fireside chat to discuss developments in merger control and digital markets, followed by a panel discussion on a range of issues, including the...more
On April 20, 2022, the U.K. government announced amendments to the U.K. competition and consumer law regimes....more
This year, we expect to see new disclosure requirements; rule changes at the Securities and Exchange Commission that will affect directors; activists adopting new tactics; changes to shareholder voting processes; tax and...more
Takeaways -
More than 50 countries now have the discretion to conduct competition reviews of mergers below mandatory notification thresholds, and the European Commission, EU member states, the U.K. and others are using...more
The UK’s Competition and Markets Authority (CMA) fined Facebook £50.5 million for breaching an order to hold separate its acquisition target, Giphy, pending the CMA’s review of the merger....more
On September 22, 2021, the European General Court issued its judgment upholding the decision by the European Commission (Commission) to fine Altice for gun-jumping in the acquisition of Portugal Telecom (PT) in 2015. The...more
The U.K. government is consulting on far-reaching reforms to U.K. competition and consumer laws, which would substantially expand the powers of the Competition and Markets Authority (CMA) and reduce procedural protections....more
The U.K.’s Competition & Markets Authority (CMA) has released new merger assessment guidelines that confirm the U.K. regulator’s intensified approach to merger control.1 The guidelines largely codify the CMA’s recent output,...more
4/19/2021
/ Acquisitions ,
Competition ,
Corporate Counsel ,
Digital Platforms ,
EU ,
European Commission ,
Guidance Update ,
Merger Controls ,
Mergers ,
New Guidance ,
UK ,
UK Competition and Markets Authority (CMA)
Commissioned by the U.K. government to review its antitrust regime, Conservative Member of Parliament John Penrose’s “Power to the People” report proposes streamlined, modest changes rather than wholesale reform to the...more
The U.K. Competition & Markets Authority (CMA), which is on the cusp of becoming an independent merger regulator post-Brexit, is already known for its readiness to investigate global digital deals, issue freezing orders and...more
Following its review of a series of global deals in the digital markets space, the U.K.’s Competition & Markets Authority (the CMA) has launched a consultation on revised merger assessment guidelines (the draft guidelines)...more
December 31, 2020, is the last day of the Brexit transition period under the Agreement on the Withdrawal of the United Kingdom of Great Britain and Northern Ireland From the European Union and the European Atomic Energy...more
10/6/2020
/ Antitrust Investigations ,
Antitrust Litigation ,
EU ,
Exhaustion Doctrine ,
Free Trade Agreements ,
Intellectual Property Litigation ,
Merger Controls ,
Mergers ,
State Aid ,
UK ,
UK Brexit ,
UK Competition and Markets Authority (CMA) ,
Withdrawal Agreement
The coronavirus pandemic has weakened European economies and companies. EU and national governments have expressed concern that foreign investors may opportunistically take advantage of the crisis to acquire domestic...more
4/21/2020
/ Acquisitions ,
Coronavirus/COVID-19 ,
Corporate Counsel ,
Critical Infrastructure Sectors ,
Enterprise Act 2002 ,
EU ,
European Commission ,
Foreign Investment ,
France ,
Hostile Takeover ,
Merger Controls ,
Mergers ,
National Security ,
National Security Review Proceedings ,
Publicly-Traded Companies ,
Technology Sector ,
UK
The global spread of the novel coronavirus has disrupted everyday life all over the world and imposed significant difficulties on the business community. Antitrust merger reviews — and the authorities who conduct those...more
4/3/2020
/ Asia ,
China ,
Competition Authorities ,
Coronavirus/COVID-19 ,
Department of Justice (DOJ) ,
EU ,
European Commission ,
Federal Trade Commission (FTC) ,
Filing Requirements ,
Hart-Scott-Rodino Act ,
Merger Reviews ,
Mergers ,
Notice Requirements ,
Office Closures ,
Relief Measures ,
Saudi Arabia ,
South America ,
State Administration for Market Regulation (SAMR) ,
UK ,
UK Competition and Markets Authority (CMA)
As the COVID-19 pandemic spreads rapidly around the world, and countries take unprecedented measures to contain the spread of the disease, businesses are increasingly struggling with the economic impact of this crisis. While...more
A recent decision by the Competition Appeal Tribunal (CAT), Tobii AB (publ) v. Competition and Markets Authority, confirms a deferential standard for the U.K. Competition and Markets Authority (CMA) in its merger...more