McDermott Will & Emery
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By Louise Aberg and McDermott Will & Emery on Sep 14, 2016
Posted In EC Developments, Mergers & Acquisitions
Financial regulatory authorities such as the US Security and Exchange Commission (SEC) and the French Autorité des marchés financiers frequently impose on companies that are listed on a stock exchange the obligation to disclose key information to investors to help them make informed investment decisions. The difficulties for companies lie principally in the nature of...
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US and EU Requirements for Pre-Merger Notification of an Acquisition of a Minority Shareholding Interest
By Bilal Sayyed and McDermott Will & Emery on Aug 31, 2016
Posted In DOJ Developments, EC Developments, EU Developments, Joint Ventures/Competitor Collaboration, Mergers & Acquisitions
In May, the Federal Trade Commission (FTC) required Hikma Pharmaceuticals PLC to divest its 23 percent interest in Unimark Remedies, Ltd. and its US marketing rights to a generic drug under manufacture by Unimark as a condition to allowing Hikma to complete its acquisition of Roxane Laboratories. The FTC was concerned that Hikma’s continued holding...
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The European Commission Fines Truck Manufacturers a Record €2.93 billion for Cartel Conduct
By McDermott Will & Emery on Aug 15, 2016
Posted In Cartel Enforcement, EC Developments
On 19 July 2016, the European Commission (Commission) imposed fines totaling €2,926,499,000 on four truck producers (39824 – Trucks). The fine is the highest ever imposed on members of a cartel by the EU competition regulator. The case is also noteworthy because it is the first Commission prohibition decision following “Brexit” and could thus become...
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Lessons Learned – The State of Affairs in US Merger Review
By Raymond A. Jacobsen, Jr., Joel R. Grosberg, Jon B. Dubrow, Bilal Sayyed and McDermott Will & Emery on May 18, 2016
Posted In DOJ Developments, FTC Developments, Mergers & Acquisitions
In the last year, the US antitrust regulators successfully challenged multiple transactions in court and forced companies to abandon several other transactions as a result of threatened enforcement actions. Looking back at the different cases, there are some trends that we see developing in the government’s positioning on mergers, and these should be kept in...
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Polish Competition Authority Supports UBER
By McDermott Will & Emery on May 13, 2016
Posted In Consumer Protection/Privacy, EC Developments, Monopolization/Abuse of Dominance
On 5 May 2016, the Polish Office of Competition and Consumer Protection (UOKiK) published a position paper in which it expressed its opinion on Uber’s operations on the Polish market for transportation services. UOKiK has been monitoring and analysing the effects of the emergence of such online platforms on the Polish market and concluded that...
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EU: Merger case cleared following offer of FRAND technology license
By McDermott Will & Emery on Apr 25, 2016
Posted In Consumer Protection/Privacy, EC Developments, IP Antitrust, Mergers & Acquisitions, Monopolization/Abuse of Dominance
On 20 April 2016, the European Commission (Commission) cleared, under its merger control rules, the acquisition of Equens and PaySquare by Worldline subject to, amongst others, a commitment to license technology to any customer interested, at Fair, Reasonable and Non-Discriminatory (FRAND) conditions. Worldline is a French provider of payment services and terminals, financial processing and...
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Dutch Competition Authority Fines Cold-Storage Companies for Exchange of Information in the Context of Merger Talks
By McDermott Will & Emery on Mar 31, 2016
Posted In Cartel Enforcement, Mergers & Acquisitions
On 23 March 2016, the Netherlands Authority for Consumers and Markets (ACM) announced that it had fined four cold-storage firms for having put in place anticompetitive arrangements while in extended merger talks with one another. (case number: 13.0698.31|15.0710.31|15.0327.31|15.0328.31). In addition, ACM fined five individuals for their personal involvement in these anticompetitive arrangements. The case at...
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EU Commission Releases First Findings on Geo-Blocking in E-Commerce Sector Inquiry
By McDermott Will & Emery on Mar 24, 2016
Posted In Distribution/Franchising, EC Developments, IP Antitrust
On 18 March, the European Commission (Commission) published its initial findings on geo-blocking in the framework of its ongoing antitrust sector inquiry into e-commerce. The findings are based on responses to questionnaires sent to more than 1400 retailers and digital content providers from all 28 EU Member States in 2015. The questionnaires focused on geo-blocking...
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Enhanced Sharing of Antitrust Evidence: New EU/Japan Cooperation Agreement
By McDermott Will & Emery on Mar 17, 2016
Posted In Cartel Enforcement, Chinese Developments
On 15 March 2016, the Japan Fair Trade Commission (JFTC) and the European Commission (Commission) announced their intention to upgrade the current antitrust co-operation agreement between Japan and the European Union. The upgrade will have a number of practical and legal implications for companies involved in international antitrust investigations or considering making leniency applications. The...
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The European Court of Justice Rules against Overreaching Requests for Information by the European Commission
By Louise Aberg and McDermott Will & Emery on Mar 14, 2016
Posted In Cartel Enforcement, EC Developments
Last week, the Court of Justice of the European Union (ECJ) ruled that the General Court of the European Union (GCEU) had been wrong when deciding that the European Commission’s requests for information sent to eight cement manufacturers during the course of a cartel investigation were adequately reasoned (see judgments in casesC-247/14 P, HeidelbergCement v...
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