Divining trends in antitrust enforcement in a given presidential administration can take some time. Many commentators didn’t notice material changes in antitrust enforcement in the Obama administration – at least in merger...more
Algorithms and the use of Artificial Intelligence (AI) have become commonplace in a vast number of markets, and this has drawn the attention not only of competition law academics and practitioners, but also of competition...more
While structural remedies remain the primary remedy of choice, and virtually the only option in the case of horizontal mergers, under the Obama Administration and with respect to vertical mergers, the agencies increasingly...more
The EU and U.S. competition authorities have been and remain active in enforcing gun-jumping cases, while in recent years other competition authorities across the world, including in China, have also become increasingly...more
4/12/2018
/ Acquisitions ,
Antitrust Violations ,
China ,
Competition ,
Competition Authorities ,
Department of Justice (DOJ) ,
EU ,
European Commission ,
Gun-Jumping ,
Hart-Scott-Rodino Act ,
Japan ,
Japan Fair Trade Commission (JFTC) ,
Mergers ,
MOFCOM
In China, where foreign investments used to be subject to a case-by-case evaluation, the screening process for acquisitions of local businesses by foreign investors is being simplified and becoming more industry-focused. This...more
4/12/2018
/ CFIUS ,
China ,
Cross-Border Transactions ,
EU ,
European Commission ,
Foreign Acquisitions ,
Foreign Investment ,
Germany ,
Italy ,
Merger Controls ,
Mergers ,
MOFCOM ,
National Security Review Proceedings ,
UK
Is this perception well-founded? And does it represent a new policy trend towards ‘social justice’ objectives or simply a continuation of a policy driver that has underpinned EU competition enforcement for some time?...more
4/11/2018
/ Agricultural Sector ,
Anti-Competitive ,
Antitrust Provisions ,
Cartels ,
Competition ,
EU ,
European Commission ,
International Tax Issues ,
Member State ,
Mergers ,
Multinationals ,
R&D ,
State Aid ,
Treaty on the Functioning of the European Union (TFEU) ,
Unfair or Deceptive Trade Practices
The European Commission has routinely considered potential harm to innovation as part of its merger assessments, particularly in R&D driven sectors such as pharmaceuticals and technology. In recent years, however, the...more
3/22/2018
/ Bayer ,
Dow Chemical ,
DuPont ,
EU ,
European Commission ,
Horizontal Mergers ,
Innovation ,
Mergers ,
Monsanto ,
Popular ,
Research and Development
By a decision adopted on 7 March 2018 and published in its Bulletin of 12 March 2018, the Italian Competition Authority has updated the thresholds for merger notification, adjusting them to the inflation rate. The new...more
On September 7, 2017, the European Court of Justice (ECJ) decided that, where joint control is acquired over a new or existing undertaking (or parts of an undertaking), that transaction can only fall within the scope of the...more
Hardly picked up by the specialised press, the Proposal for a Regulation setting out the conditions and procedure by which the European Commission may request undertakings and associations of undertakings to provide...more
When a transaction meets the thresholds of the EU Merger Regulation, companies must notify and obtain clearance from the European Commission before implementing the transaction.[1] This means that until clearance is obtained,...more
We are pleased to release the latest issue of our client newsletter, Energy Update, designed to inform clients and friends of the firm about important developments affecting US and international energy markets.
...more
5/19/2017
/ Antitrust Provisions ,
Energy Sector ,
Energy Storage ,
EU ,
Feed-in-Tariffs ,
FERC ,
Indonesia ,
Japan ,
Liquid Natural Gas ,
Oil & Gas ,
Power Purchase Agreements ,
Renewable Energy ,
Supply Contracts ,
Tax Reform ,
Trump Administration
Japan, the world’s biggest buyer of liquefied natural gas (“LNG”), is currently investigating the potential anticompetitive effects of territorial restrictions in LNG supply contracts. Historically, LNG suppliers have used...more
Shearman & Sterling’s 2017 Antitrust Annual Report reflects our lawyers’ experience and insights on key antitrust risks affecting our clients’ businesses.
...more
3/22/2017
/ American Express ,
Antitrust Investigations ,
Antitrust Violations ,
Big Data ,
Cartels ,
E-Commerce ,
EU ,
Extraterritoriality Rules ,
FTAIA ,
Merger Controls ,
State Aid ,
UK Brexit
In its judgment of 19 June 2016, the Court of Justice of the European Union confirmed that the European Commission’s 2013 Banking Communication is not contrary to EU law. The Court clarified that the burden-sharing...more
State aid control is unusual internationally. State aid is entirely a matter of EU law and is administered by the EU. Unlike other areas of competition law, such as antitrust and merger control, there are no national rules or...more
On Thursday 23 June 2016, the UK electorate voted to leave the European Union. While this vote was advisory in nature, we expect that ultimately the UK Government and Parliament will respect the outcome and serve notice to...more
6/29/2016
/ Acquisition Agreements ,
Article 50 Treaty of the EU ,
Cross-Border Transactions ,
EU ,
EU Directive ,
European Economic Area (EEA) ,
Financial Markets ,
Foreign Judgments ,
Grandfathered Status ,
Member State ,
Merger Agreements ,
Popular ,
Scotland ,
Trade Relations ,
UK ,
UK Brexit ,
Value-Added Tax (VAT) ,
WTO
Today, it was announced that the UK public has voted to leave the European Union. There will now be a negotiation of a new relationship between the UK and Europe. The fact of the vote itself has no legal effect on the laws of...more
The UK is holding a referendum on 23 June 2016 to decide whether or not to remain a member of the European Union. There seems to be a disconnect between some aspects of public discourse on the vote and the actual effect of an...more
October 1, 2015, marked the entry into force of the Consumer Rights Act 2015 ("CRA"), bringing with it an opt-out class action regime for the private enforcement of infringements in competition law. Now, in March, 2016, the...more
On 14 October 2015 the Court of Appeal (CoA) handed down its judgment on appeals against orders made by Peter Smith J arising out of an alleged cartel for airfreight services. First, the CoA said the High Court was not...more
The entry into force of the Consumer Rights Act 2015 (“CRA15”) on 1 October 2015 sees the overhaul of the private enforcement regime in England & Wales. The CRA15, which amends both the Competition Act 1998 and the Enterprise...more
10/1/2015
/ Breach of Competition Law ,
EU ,
Harmonization Rules ,
Infringement ,
Jurisdiction ,
Opt-In ,
Opt-Outs ,
Private Right of Action ,
UK ,
UK Competition and Markets Authority (CMA) ,
UK Competition Appeal Tribunal (CAT) ,
UK Consumer Rights Act
Following an 11-month investigation into UK support for the Hinkley Point C nuclear project, the Commission approved a modified UK support package on 8 October 2014.
Austria announced yesterday that it will launch its...more
The European Commission has recently launched an e-commerce sector inquiry. It will complement and inform its policy agenda for a Digital Single Market in Europe, which was announced on the same day. Companies contacted...more
The European Court of Justice recently confirmed that pre-pricing communications between competitors involving discussions about price-setting factors, quotation prices and pricing trends may be incompatible with EU antitrust...more