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Mergers Gun-Jumping

Cooley LLP

DOJ Hits Venue Services Group With $3.5 Million HSR Gun-Jumping Penalty

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The US Department of Justice (DOJ) filed a complaint and proposed consent decree alleging that Legends Hospitality Parent Holdings prematurely acquired beneficial ownership – often referred to as “gun jumping” – in connection...more

Bradley Arant Boult Cummings LLP

Justice Department Imposes $3.5 Million Civil Penalty, Strict Conditions Over Gun-Jumping Allegations

Earlier this month, the Department of Justice (DOJ) Antitrust Division filed a consent decree fining venue management firm Legends Hospitality $3.5 million over allegations that Legends improperly coordinated with an...more

A&O Shearman

U.S. DOJ seeks rare $3.5 million “gun jumping” penalty against Legends Hospitality for pre-closing conduct in connection with its...

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On August 5, 2024, the United States Department of Justice (“DOJ”) filed a rare[1] gun jumping[2] civil lawsuit and proposed settlement in the United States District Court for the Southern District of New York against Legends...more

BCLP

Faster, Stronger, and Simpler? Australia’s New Merger Control Regime

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On 10 April 2024, Australia’s Federal Government announced far-reaching reforms to its merger control regime, most notably the introduction of a new single, mandatory and suspensory, merger control system. The reform package...more

A&O Shearman

Approval of the Executive Regulations to the Egyptian Competition Law

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The Cabinet of Ministers in Egypt has recently approved the Executive Regulations accompanying the newly revised Egyptian Competition Law. This endorsement represents a pivotal phase in the legislative evolution that...more

BCLP

The Year Ahead for M&A Regulation in Brussels - BCLP’s Top 5 Things to Watch in 2024

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2024 is shaping up to be a year of significant change in Brussels. European Parliamentary elections in June will be followed by the appointment of a new Commission in the autumn....more

Cooley LLP

EU Court of Justice Ruling on M&A ‘Gun-Jumping’ Sets 115 Million-Euro Fine

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Merger review has become an ever more critical path to successful M&A completion, as enforcement agencies, including the European Commission (EC), apply closer scrutiny to potential anti-competitive effects of M&A deals. With...more

A&O Shearman

Antitrust in focus - November 2023

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This newsletter is a summary of the antitrust developments we think are most interesting to your business. Börries Ahrens, partner based in Hamburg, is our editor this month. He has selected: Significant reforms to German...more

White & Case LLP

Gun-jumping in M&A – ECJ confirms the possibility of two separate fines for gun-jumping and the European Commission’s broad...

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On 9 November 2023, the European Court of Justice ("ECJ") confirmed that the European Commission ("EC") was right to impose two separate fines on Altice for breaching standstill rules and failing to notify its acquisition of...more

A&O Shearman

ECJ’s “gun jumping” ruling reminds merging parties of the importance of EU merger control compliance

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The European Court of Justice (ECJ) has (mostly) confirmed the European Commission (EC)’s decision to fine Altice for implementing a transaction prior to its notification and the EC’s merger control clearance....more

WilmerHale

Unprecedented European Commission Order to Unwind an Acquisition

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On October 12, 2023, the European Commission (EC) ordered Illumina to unwind its already completed acquisition of the cancer-test provider GRAIL Inc. This is the first time that the EC has ordered a reversal of an...more

Faegre Drinker Biddle & Reath LLP

Amendment to China’s Merger Control Rules: Implications on M&A Deals

Following the August 1, 2022, amendment of the People’s Republic of China’s (PRC) Anti-Monopoly Law, the State Administration for Market Regulation — the PRC’s antitrust authority (AMR) — released the Provisions on the Review...more

Hogan Lovells

Shots fired – AG Opinion supports enforcement of record EU ‘gun-jumping’ fine

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An EU Advocate General has advised that an appeal brought by Altice should be dismissed in its entirety – in effect confirming the validity of a 2018 European Commission decision imposing a record fine on Altice for breaching...more

White & Case LLP

ECJ Advocate General supports the European Commission’s broad interpretation of gun-jumping and the importance of deterrence in...

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Advocate General Anthony Michael Collins has proposed that the European Court of Justice uphold the General Court's Altice judgment. In his Opinion, he considered that the entering into certain types of pre-closing covenants...more

McDermott Will & Emery

Heard at the 2023 Spring Meeting: Part 1

The American Bar Association’s Antitrust Law Section recently held its annual Spring Meeting in Washington, DC, featuring updates from federal, state, and international antitrust enforcers and in-depth commentary on leading...more

White & Case LLP

Key legislation and judgments coming up in 2023

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A number of legislative changes and court judgments that will affect merger review both substantively and procedurally are expected to enter into force in 2023. In the EU, the revised Market Definition Notice is anticipated...more

A&O Shearman

Gun-jumping and breaching merger remedies generate heavy sanctions

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Antitrust authorities continued their aggressive campaign against procedural merger control infringements in 2022. A total of EUR113.8m fines were imposed in 70 decisions across the jurisdictions surveyed....more

White & Case LLP

Crackdown on procedural infringements

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European Union - In May 2022, the GC upheld the EC's €28 million fine imposed on Canon for gun jumping in the context of a so-called warehousing structure. Interestingly, the GC ruled that the standstill obligation does...more

White & Case LLP

French Merger Control Update: Key Takeaways from 2022

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In 2022, the French Competition Authority (the "FCA") maintained a high level of activity, focusing notably on digital markets, which remain one of its key priorities. Last year also brought the first successful failing firm...more

BCLP

The year ahead in Brussels - the European Commission’s expanding scrutiny of M&A

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As we enter 2023, the European Commission is redoubling its efforts to scrutinise transactions on a variety of bases. The focus has been on the digital sector for some time, but the impact of the Commission’s expanding...more

White & Case LLP

Egypt to Overhaul its Merger Control Regime

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Egypt is in the final stages of amending its Competition Law, which will require transaction parties to obtain merger control clearance prior to closing. Once they come into effect, the amendments will overhaul the current...more

McDermott Will & Emery

International News: Spotlight on Competition Law - September 2022

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UNIQUE GUN-JUMPING CASE SANCTIONED BY FRENCH COMPETITION AUTHORITY - A new European gun-jumping decision, following the European Court of Justice 2022 Marine Harvest judgment, sends a very strong message to companies that...more

Wilson Sonsini Goodrich & Rosati

EU General Court Backs Up the European Commission's Tough Stance on Gun-Jumping

The European General Court (GC) has affirmed a EUR 28 million (USD 32 million) fine against Canon for gun-jumping in connection with Canon's 2019 acquisition of Toshiba's medical device business (TMSC). The GC's decision...more

White & Case LLP

EU General Court confirms EC decision fining Canon €28 million for gun jumping in warehousing scheme

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On 18 May 2022, the EU General Court (GC) upheld the European Commission's (EC) € 28 million fine imposed on Canon for gun-jumping in the context of a (somewhat unique) so-called warehousing structure. The judgment confirms...more

A&O Shearman

General Court Judgment in Canon – A Victory for Commission Gun-Jumping Enforcement

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On 18 May 2022, the European General Court rejected Canon’s appeal against a €28 million fine imposed by the European Commission in 2019 for its breach of EU gun-jumping rules, just a few months after a similar judgment,...more

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