The Technology, Media and Telecommunications Review is now in its 11th edition, and I am excited to be taking the reins of this publication after a decade under the steady hand of long-time editor John Janka. This Review...more
The CMA’s efforts to make dynamic, forward-looking assessments of parties’ overlaps will only increase post-Brexit.
Dealmakers must be alert to the increasingly interventionist approach of the UK’s Competition and Markets...more
Emerging companies have historically been backed by venture capital funds, but as Europe’s startup scene matures, involvement by more traditional private equity investors is growing, particularly in the tech, consumer, and...more
12/17/2020
/ Buyouts ,
Digital Health ,
Emerging Growth Companies ,
Emerging Technology Companies ,
Investors ,
Life Sciences ,
Private Equity ,
Private Equity Firms ,
Startups ,
Target Company ,
Technology Sector
On 10 July, the CMA announced that it was investigating suspected breaches of consumer protection law in the package holiday sector. The investigation was launched on the back of work carried out by the CMA’s COVID-19...more
7/15/2020
/ Competition Act ,
Consumer Protection Laws ,
Coronavirus/COVID-19 ,
Enforcement Actions ,
Holidays ,
Price Gouging ,
Relief Measures ,
UK ,
UK Competition and Markets Authority (CMA) ,
Unfair Competition Law (UCL) ,
Unfair or Deceptive Trade Practices
The CMA continues to field COVID-19 complaints concerning refunds and previously widespread excessive prices on day-to-day products.
The CMA continues to respond to complaints from consumers on COVID-19-related issues....more
The judgment has important implications for the competition law compliance responsibilities of company directors.
On 3 July 2020, the High Court disqualified Michael Martin from acting as a director for seven years. The...more
The investigation is being carried out under the CMA’s competition law powers rather than under its consumer protection functions.
On 18 June, the CMA released an update noting that it had launched an investigation under...more
The UK government has relaxed the application of UK competition law to certain types of agreements across sectors.
On 21 May 2020, the CMA published a register containing links to each public policy exclusion order and...more
The taskforce continues to receive and monitor complaints about unfair practices in relation to cancellations and refunds and potentially unjustifiable price rises.
On 21 May, the CMA released a further update setting out...more
The CMA has launched a programme of work to investigate reports of businesses failing to respect cancellation rights during the COVID-19 pandemic.
The CMA’s COVID-19 Taskforce Update on 24 April 2020 noted that its...more
The CMA is concerned that businesses may be engaging in unfair practices in relation to cancellations and refunds, and unjustifiable price increases.
Background -
On 24 April 2020, the Competition and Markets Authority...more
The guidance includes a refresher on “failing firm” defence claims, for which the CMA will maintain a high bar.
On 22 April 2020 the UK’s Competition and Markets Authority (CMA) published guidance on its assessment of...more
The new service encourages UK consumers to report exploitative sales and pricing practices.
On 4 April 2020, the Competition and Markets Authority (CMA) launched an online service called “Report a business behaving...more
Ofgem’s recently announced goals and developments and changes to the post-Brexit state aid regime will have important implications for market players.
2020 is set to be a an important year for competition law-related...more
Court ruling confirms that online sales restrictions can amount to a serious infringement of competition law.
On 21 January 2020, the UK’s Court of Appeal ruled that the online sales restrictions contained in Ping’s...more
What does the UK’s exit from the EU on 31 January mean for parties’ deal planning?
Key Points:
..On 23 January 2020, the UK passed legislation to leave the EU on 31 January 2020 under the terms of the Withdrawal Agreement...more
1/29/2020
/ EU ,
European Commission ,
Filing Requirements ,
Jurisdiction ,
Merger Controls ,
Mergers ,
Transitional Arrangements ,
UK ,
UK Brexit ,
UK Competition and Markets Authority (CMA) ,
Withdrawal Agreement
As it has since inception, this tenth edition of The Technology, Media and Telecommunications Review provides a survey of evolving legal constructs in 21 jurisdictions around the world. It remains a business-focused framework...more
Companies must mitigate risks to antitrust privilege posed by cross-border megadeals and increased regulatory demand for documentation.
A strong M&A market has driven a high volume of megadeals across the globe in recent...more
10/29/2019
/ Acquisitions ,
Antitrust Provisions ,
Attorney-Client Privilege ,
Contract Terms ,
Corporate Counsel ,
Cross-Border Transactions ,
EU ,
European Commission ,
Jurisdiction ,
Mergers ,
Regulatory Agencies ,
Risk Management ,
UK ,
UK Competition and Markets Authority (CMA)
The FCA found that three asset managers breached competition law by sharing information in relation to securities offerings.
Key Points:
..The decision gives market participants some helpful indications as to what kinds...more
In a continually evolving antitrust landscape, we consider five key trends that PE deal teams should be aware of.
Focus on Non-Controlling Stakes in Competing Companies -
Antitrust authorities are paying closer...more
3/13/2019
/ Acquisitions ,
Antitrust Division ,
Common Ownership ,
Competition Authorities ,
Document Productions ,
EU ,
European Commission ,
Gun-Jumping ,
Investors ,
Merger Controls ,
Private Equity ,
UK
Businesses should review land agreements to avoid infringing competition law.
Many UK businesses operate from, or handle property governed by, some form of land agreement. These land agreements can include agreements for...more
The expansion of the UK government’s foreign investment review powers will require additional scrutiny of potential deals for the early identification of additional steps in the regulatory approval strategy.
Key...more
The CAT’s specific disclosure ruling addresses the use of licensing to support anticompetitive behaviour.
On 2 March 2018, the Chairman of the UK Competition Appeals Tribunal (CAT) granted an application for further...more
On 2 May 2017, China’s Ministry of Commerce (MOFCOM) announced its conditional clearance of the proposed US$130 billion all-stock merger of equals between the Dow Chemical Company (Dow) and E.I. du Pont de Nemours and Company...more
As part of UK Prime Minister Theresa May’s new industrial strategy, private equity deal teams should expect a more interventionist approach to the acquisition of strategically important UK businesses by foreign buyers. The UK...more