Merger control aims to prevent negative structural changes in competition on the markets when mergers, acquisitions or joint ventures are carried out, through a system of prior authorization by national or supranational competition authorities.
Any acquisition of a stake by one or more companies in another, or the creation of a joint venture by several companies, may give rise to a merger, requiring notification in one or more countries. Each country's merger control regime sets different criteria for the notification of mergers (sales, market share, value of assets and/or transaction).
Failure to comply with a notification obligation or its suspensive nature may give rise to financial penalties from the competent authorities. Our in-depth knowledge of the merger control regimes of many countries, based on over 15 years' experience, combined with our network of experienced correspondents, enables us to meet our clients' merger control requirements efficiently: determining whether a transaction is notifiable, identifying the relevant jurisdictions, drafting the preparatory documents (clean team / NDA, suspensive clauses) and the notification file, managing the timetable, right through to obtaining the decision of the relevant authorities and lifting the conditions precedent to the transaction.
Your issues
Acquire a company, start-up, SME, ETI or division of a large group, take a minority or majority stake in a company, create a joint venture with a competitor or business partner,
Determine to which competition authority(ies) the transaction must be notified before completion,
To secure the transaction in terms of merger control and to be able to integrate the target within a predictable timeframe and without legal risk.
Our skills
Our firm assists its clients in their external growth operations (mergers, minority or majority acquisitions) and in the creation of joint ventures, for a varied clientele including investment funds, food distribution networks and car dealerships.
We study your project and determine whether or not it constitutes a merger within the meaning of the applicable regulations. If so, we analyze whether prior authorization of the transaction by one or more competition authorities is required.
We notify mergers to the relevant competition authorities in France, Europe and the rest of the world, and obtain the necessary merger control authorizations. Whatever the scale of your project, we act as a one-stop shop and obtain all the necessary authorizations, if necessary with the support of our network of correspondent law firms in Europe and worldwide.
Finally, we assist third parties wishing to intervene in a merger control procedure by filing observations or responding to market tests.