The Informed Board Podcast | Will the EU’s Focus on Foreign Subsidies Make It More Difficult To Acquire European Businesses?
Nota Bene Episode 102: Examining European Union State Aid in the Face of COVID and Brexit with Jacques Derenne and Robert Klotz
Our Antitrust Team examines the European Commission’s first conditional merger clearance under the Foreign Subsidies Regulation (FSR) and how it provides key insights into how foreign financial contributions impact...more
JANUARY – MARCH 2025: KEY THEMES AND TAKEAWAYS - UNITED STATES - FTC Loses Vertical Challenge to Tempur Sealy/Mattress Firm On July 2, 2024, the US Federal Trade Commission (FTC) filed suit in federal court seeking to block...more
The EU Foreign Subsidies Regulation entered into force on 12 July 2023, and as of 12 October 2023, companies engaging in large transactions and bidding for large public procurement contracts in the European Union, are...more
The European Commission seeks stakeholders' views on the guidelines for the application of the Foreign Subsidies Regulation ("FSR")....more
The transaction notification regime under the EU Foreign Subsidies Regulation (FSR) is now over a year old. To date, intervention levels are low. But assessing whether a filing is required, and gathering the extensive...more
The EU’s Foreign Subsidies Regulation (FSR) allows the European Commission (EC) to investigate and remedy subsidies received from non-European countries that distort the EU internal market. As the FSR marks its inaugural year...more
On 24 September 2024, the European Commission adopted its first decision under the Foreign Subsidies Regulation (“FSR”)....more
In the context of a dawn raid under the EU Foreign Subsidy Regulation (FSR), the EU General Court (GC) has refused to suspend the European Commission (EC)’s request to access employees’ mailboxes located in China....more
The EU Foreign Subsidies Regulation (FSR) took effect in July 2023. It aims to regulate subsidies granted by non-EU countries to ensure that they do not distort competition in the EU internal market. For dealmakers, it is...more
The EU's new Foreign Subsidies Regulation (FSR), which came into effect on July 12, 2023, marks the European Commission's attempt to level the playing field by addressing the potential distortive effects of non-EU subsidies...more
The outlook for public M&A remains challenging, even if we have now reached a plateau in interest rates. We see two primary areas for opportunity: (i) strategic buyers using the current conditions to accelerate...more
The EU is concerned about subsidies granted by non-EU countries to businesses active in the EU, that could distort competition in EU markets. The Foreign Subsidies Regulation (FSR) establishes a new regime, enforced by the...more
Implications for private equity investors. What is the issue? The EU is concerned about subsidies granted by non-EU countries that could distort competition in EU markets. In November 2022, the European Parliament and...more
Overview of the FSR - The Treaty on the Functioning of the European Union ("TFEU") prohibits any form of public financial support selectively granted to businesses that distorts competition, absent an exception. The EU's...more