Killer Acquisitions In Digital Markets An Analysis Of The Eu Merger Control Regime

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Killer Acquisitions in Digital Markets: An Analysis of the EU Merger Control Regime

Author : Giulia Sonderegger
Publisher : buch & netz
ISBN 13 : 3038056731
Total Pages : 348 pages
Book Rating : 4.0/5 (38 download)

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Book Synopsis Killer Acquisitions in Digital Markets: An Analysis of the EU Merger Control Regime by : Giulia Sonderegger

Download or read book Killer Acquisitions in Digital Markets: An Analysis of the EU Merger Control Regime written by Giulia Sonderegger and published by buch & netz. This book was released on 2024-06-10 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: In her PhD thesis, Giulia Aurélie Sonderegger analyses killer acquisitions, which, in short, are acquisitions that aim to pre-empt potential future competition at an early stage. While this phenomenon was originally discovered in pharmaceutical markets, this thesis exclusively discusses killer acquisitions in the context of digital markets, thereby primarily focusing on the current European Merger Control Regulation (EUMR). The main research question is whether the EUMR is appropriate to tackle killer acquisitions occurring in digital markets, and if not, in what ways it needs to be amended to better address the challenges in the future. To tackle this question, the author assesses both the economic and legal effects of killer acquisitions on merger control in digital markets and, based on her findings, suggests amendments to the current European merger control regime. For a more comprehensive analysis, this thesis also includes an assessment of the recently enacted Digital Markets Act (DMA) to ascertain whether this regulation may serve as an additional tool to remedy such transactions.

Killer Acquisitions in Digital Markets

Author : Giulia Sonderegger
Publisher :
ISBN 13 : 9783038056720
Total Pages : 0 pages
Book Rating : 4.0/5 (567 download)

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Book Synopsis Killer Acquisitions in Digital Markets by : Giulia Sonderegger

Download or read book Killer Acquisitions in Digital Markets written by Giulia Sonderegger and published by . This book was released on 2024 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

'Capturing Killer Acquisitions in Digital Markets Under the European Union Merger Control Rules'

Author : Amil Jagarguliyev
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (139 download)

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Book Synopsis 'Capturing Killer Acquisitions in Digital Markets Under the European Union Merger Control Rules' by : Amil Jagarguliyev

Download or read book 'Capturing Killer Acquisitions in Digital Markets Under the European Union Merger Control Rules' written by Amil Jagarguliyev and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A couple of years ago, a new phenomenon emerged in the EU Merger Control sphere. This phenomenon is called - “Killer Acquisitions” where incumbent undertakings are suspected to acquire promising start-ups to vanish future potential rivals from the market. Big Tech companies in digital markets are among the usual suspects being engaged in this kind of transaction. This strategy can surely serve to cement incumbent platforms' dominant position in the digital markets. The problem was that it was impossible to capture these acquisitions with the EU Merger Control rules since it was not possible with the threshold requirements. Therefore, it brought about the enhancement of the European Commission's toolbox. This paper will spill ink on what options were on the table to carry out those amendments and what options were opted to do so in the end. It will be addressed whether preferred ways to capture killer acquisitions are good solutions to the problem or not. The paper will examine the preferred approach of capturing killer acquisitions at the EU level in a critical way. Because this work is also trying to depict what kind of difficulties digital platforms conducting business and planning mergers and acquisitions in the EU can encounter with.

European Merger Control

Author : Catalin Stefan Rusu
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041132597
Total Pages : 306 pages
Book Rating : 4.0/5 (411 download)

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Book Synopsis European Merger Control by : Catalin Stefan Rusu

Download or read book European Merger Control written by Catalin Stefan Rusu and published by Kluwer Law International B.V.. This book was released on 2010-01-01 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: Twenty years of experience have inevitably brought to light challenges and tensions in the enforcement of the European merger control system. Some of these challenges have been faced, some have been solved and some remain latent. This very valuable study starts from the proposition that the EU has never fully acknowledged those fundamental challenges which relate to the rationale behind merger control in Europe. The author shows how the Commission's focus on adapting the rules of merger control to the economic realities of the future business environment, although designed with a view to facilitating European integration, has compromised attainment of legal certainty, transparency and welfare enhancement. In its detailed evaluation of the 'future market structure prediction process' embedded in European merger control policy, this book approaches two rock-bottom, far-reaching questions: In what ways does merger control promote consumer and societal welfare? Is the Commission able to correctly predict the outcome of any given concentration transaction? These considerations take the reader through a deep and searching analysis that calls into question the very credibility and transparency of the system, leading to alternatives which promise a new clarity of purpose and procedure. The author describes how these recommendations can be integrated into the functioning framework of the European project. Taken fully into account along the way is a wide spectrum of relevant source material, including the following: applicable articles and chapters of the founding and subsequent European Treaties; secondary European legislation concerning competition and merger activity; domestic competition laws; guidelines, notices and action plans; competition law reviews, statements of intentions; draft legislative attempts; speeches on the enactment and purpose of merger control; Member States' views concerning European merger control as expressed during Council negotiations; officially available concentration-related statistics; and a wide-ranging literature review covering both the legal and economic sides of merger control. Throughout, the author substantiates theoretical assertions with case law examples, clearly exposing doctrines arising from such cases as Continental Can, Phillip Morris/Rothmans and the Airtours, Schneider and Tetra Laval trilogy. A unique feature of the analysis draws on the author's personal experience while working for a Brussels competition law firm. This book is a remarkable compound of academic guide to the roots and rationales of the European Merger Control System, practical guide to the day-to-day intricacies of merger control enforcement, and 'raw' guide for decision makers and merger control law enforcers. It will be of immense value in all three contexts.

The Merger Control Review

Author : Ilene Knable Gotts
Publisher :
ISBN 13 : 9781804490952
Total Pages : 0 pages
Book Rating : 4.4/5 (99 download)

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Book Synopsis The Merger Control Review by : Ilene Knable Gotts

Download or read book The Merger Control Review written by Ilene Knable Gotts and published by . This book was released on with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

EU Competition Law Volume II: Mergers and Acquisitions

Author : Jones, Christopher
Publisher : Edward Elgar Publishing
ISBN 13 : 180220346X
Total Pages : 1680 pages
Book Rating : 4.8/5 (22 download)

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Book Synopsis EU Competition Law Volume II: Mergers and Acquisitions by : Jones, Christopher

Download or read book EU Competition Law Volume II: Mergers and Acquisitions written by Jones, Christopher and published by Edward Elgar Publishing. This book was released on 2021-12-14 with total page 1680 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a Claeys and Casteels title, now formally part of Edward Elgar Publishing. With extensive updating in the decade since the publication of the second edition, and written by the key Commission and European Court officials in this area, as well as leading practitioners, the third edition of this unique title provides meticulous and exhaustive coverage of EU Merger Law.

Merger Control in the EU and Turkey

Author : Fevzi Toksoy
Publisher : Kluwer Law International B.V.
ISBN 13 : 9403543043
Total Pages : 264 pages
Book Rating : 4.4/5 (35 download)

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Book Synopsis Merger Control in the EU and Turkey by : Fevzi Toksoy

Download or read book Merger Control in the EU and Turkey written by Fevzi Toksoy and published by Kluwer Law International B.V.. This book was released on 2022-05-11 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: As a country on the way to integration with the European Union (EU), Turkey has been following EU principles in establishing and improving its merger control regime, as well as overall competition law, keeping pace with changes in relevant EU legislation and case law. This book presents, for the first time, a description and analysis of the relationship between the EU and Turkish merger control law and practice. The second edition of the book considers the legislative changes that occurred in 2020-2021, including the reform of the Turkish Competition Law which introduced the significant impediment to effective competition (SIEC) test into the Turkish concentration control. The authors—all three, both practicing lawyers and academicians in Turkey—focus on comparing substantive, procedural and jurisdictional issues and draw parallels on their regulation in the two jurisdictions. These matters include the following: determining whether a transaction shall be regarded as a notifiable merger, hence be subject to control; financial thresholds used for allocating jurisdictions; extraterritoriality of merger control; relationship between the SIEC test and the dominance test; determination of the relevant market; techniques used for assessment of horizontal and non-horizontal mergers; notification requirements; procedural duties of competition authorities in relation to remedies; third-party rights; gun-jumping fines and other sanctions for failure to comply with merger control requirements; and peculiarities of assessment of mergers in the Big Data world. Each chapter provides an overview of the respective issues in the EU and Turkey, projecting a clear understanding of the main similarities and differences in the two regimes. A notable feature is an in-depth analysis of applicable case law concerning each issue, with most of the Turkish decisions available in English for the first time. The book’s comparative approach will prove to be of great value. With its clear answers to questions about what transactions are subject to merger control, what criteria are used in assessing those transactions, and the main issues that a foreign company should be aware of while merging with another foreign company with effect in Turkey and/or EU, the book will be of immeasurable value for lawyers and their business clients dealing with multijurisdictional merger cases. Interested academics and policymakers will also find much here to attract their attention.

Which Mergers Should the European Commission Review Under the Digital Markets Act?

Author : Christophe Carugati
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (136 download)

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Book Synopsis Which Mergers Should the European Commission Review Under the Digital Markets Act? by : Christophe Carugati

Download or read book Which Mergers Should the European Commission Review Under the Digital Markets Act? written by Christophe Carugati and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Large digital platforms acquired 1149 firms in various economic sectors between 1987 and July 2022. The European Commission reviewed only 21 of these mergers as most did not meet the European Union merger control turnover threshold. This suggests under-enforcement, with some problematic mergers escaping merger review and thus posing competition risks. The EU Digital Markets Act, which entered into force in November 2022, imposes obligations on firms that are considered 'gatekeepers' in relation to some core platform services, such as online search engines. In particular, these firms must now inform the Commission of all their intended acquisitions. This, in combination with Commission guidance on referrals by EU national competition authorities of mergers for review, should ensure more merger reviews in the digital sector. Current European Commission guidance on referring cases for merger review is flexible but impractical as it relies on theories of harm rather than clear and objective criteria. Without clarification, there could be over-enforcement in which unproblematic mergers are reviewed, human resources are allocated inefficiently and legal uncertainty persists. The Commission should issue new guidance on which digital mergers are likely to be problematic, thus triggering referral for merger review. This is likely to be the case when the target's user base overlaps with that of the acquirer, when the target is a leader in a future critical market and when the target is active in a core platform service.

Merger Control Review

Author : Ilene Knable Gotts
Publisher : Law Business Research Ltd.
ISBN 13 : 191237773X
Total Pages : 871 pages
Book Rating : 4.9/5 (123 download)

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Book Synopsis Merger Control Review by : Ilene Knable Gotts

Download or read book Merger Control Review written by Ilene Knable Gotts and published by Law Business Research Ltd.. This book was released on 2017-09-20 with total page 871 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Merger Control Review, edited by Ilene Knable Gotts of Wachtell, Lipton, Rosen & Katz, provides an overview of the process in 38 jurisdictions, as well as a discussion of recent decisions, strategic considerations and likely upcoming developments in Merger Control. Given the ability of most competition agencies with pre-merger notification laws to delay, and even block, a transaction, it is imperative to take each jurisdiction - small or large, new or mature - seriously. It is, therefore, imperative that counsel for such a transaction develops a comprehensive plan prior to, or immediately upon, execution of an agreement concerning where and when to file notification with competition authorities regarding such a transaction. The intended readership of this book comprises both in-house and outside counsel who may be involved in the competition review of cross-border transactions. In our endeavour to keep our readers well informed, we have expanded the jurisdictions covered by this book to include the newer regimes as well with several special chapters covering US, EU and Chinese Merger Control in Media and Pharmaceutical sectors. Contributors include: Susan Ning, King & Wood Mallesons; James Langenfeld, Navigant; Goenenc Guerkaynak, ELIG; Mr Jordan Ellison, Slaughter and May."e;Each country section provides an informative overview of recent and expected enforcement trends... A very useful book!"e; - Jean-Yves Art, Associate General Counsel, Microsoft, Belgium

Killer Acquisitions in Digital Markets: An Analysis of the EU Merger Control Regime

Author : Giulia Sonderegger
Publisher : buch & netz
ISBN 13 : 303805674X
Total Pages : 266 pages
Book Rating : 4.0/5 (38 download)

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Book Synopsis Killer Acquisitions in Digital Markets: An Analysis of the EU Merger Control Regime by : Giulia Sonderegger

Download or read book Killer Acquisitions in Digital Markets: An Analysis of the EU Merger Control Regime written by Giulia Sonderegger and published by buch & netz. This book was released on 2024-06-10 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: In her PhD thesis, Giulia Aurélie Sonderegger analyses killer acquisitions, which, in short, are acquisitions that aim to pre-empt potential future competition at an early stage. While this phenomenon was originally discovered in pharmaceutical markets, this thesis exclusively discusses killer acquisitions in the context of digital markets, thereby primarily focusing on the current European Merger Control Regulation (EUMR). The main research question is whether the EUMR is appropriate to tackle killer acquisitions occurring in digital markets, and if not, in what ways it needs to be amended to better address the challenges in the future. To tackle this question, the author assesses both the economic and legal effects of killer acquisitions on merger control in digital markets and, based on her findings, suggests amendments to the current European merger control regime. For a more comprehensive analysis, this thesis also includes an assessment of the recently enacted Digital Markets Act (DMA) to ascertain whether this regulation may serve as an additional tool to remedy such transactions.

Law and Economics in European Merger Control

Author : Ulrich Schwalbe
Publisher : Oxford University Press
ISBN 13 : 0199571813
Total Pages : 477 pages
Book Rating : 4.1/5 (995 download)

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Book Synopsis Law and Economics in European Merger Control by : Ulrich Schwalbe

Download or read book Law and Economics in European Merger Control written by Ulrich Schwalbe and published by Oxford University Press. This book was released on 2009-10 with total page 477 pages. Available in PDF, EPUB and Kindle. Book excerpt: Co-written by an expert lawyer and economist, this book provides a thorough guide to the economic theory behind the regulation of mergers. The economic theory is then used to analyse the current state of European competition law, and test the success of the European Commission's search for a 'more economic approach' to merger regulation.

Merger Control in Europe

Author : Nauta Dutilh
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041120564
Total Pages : 459 pages
Book Rating : 4.0/5 (411 download)

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Book Synopsis Merger Control in Europe by : Nauta Dutilh

Download or read book Merger Control in Europe written by Nauta Dutilh and published by Kluwer Law International B.V.. This book was released on 2003-01-01 with total page 459 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rev. edition of : "Merger control in the EU," edited by Peter Verloop, 3rd rev. ed., 1999.

Does EU Merger Control Discriminate against Small Market Companies?

Author : Mika Oinonen
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041142355
Total Pages : 448 pages
Book Rating : 4.0/5 (411 download)

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Book Synopsis Does EU Merger Control Discriminate against Small Market Companies? by : Mika Oinonen

Download or read book Does EU Merger Control Discriminate against Small Market Companies? written by Mika Oinonen and published by Kluwer Law International B.V.. This book was released on 2010-07-20 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the question posed by the title of this book has generated considerable debate, the essential issue remains open and largely blurred. While some believe that there is no so-called ‘small market problem’, others discern discrimination against small market companies (i.e., companies with a strong position in their home markets but a modest position in the European and global markets) and a consequent need for changes in competition law. The author of this enormously helpful work here sets the stage for meaningful discussion by analysing the EC Merger Regulation’s objectives, economic foundations, and application practice to present a reasoned view of the issues that can be considered relevant for such a discussion. Considering their effect on the ’small market problem’, the author scrutinizes such factors as the following: the Commission’s methodology for delineating relevant markets in merger assessments; unnecessary prohibition caused by overestimation of the market power of small market mergers; erroneous approval of cases that should actually be prohibited; impact of the so-called ‘Harvard’ and ‘Chicago’ schools of competition theory and their key policy implications; process-related alternative views of competition and new synthesizing approaches; relevant criteria for a proper analysis of market power; concentration measures and market shares; barriers to entry; price and profitability analyses; and product definition v. geographic definition of markets. In a final chapter, the author presents some tentative conclusions, normative in nature, concerning the problem and the relevant issues relating to it. As the first in-depth analysis of the issues that are actually involved – with its particular diagnosis of the assessment of market power in considering the relevant issues for the problem – this study brings into salience the terms of the debate on the ‘problem’, and thus takes a giant step forward towards defining what needs to be done. Competition lawyers, policymakers, and academics in Europe and elsewhere will find the discussion of great value.

Digital Conglomerates and EU Merger Control - Analysis of the Leverage Theory of Harm

Author : Manav Chadha
Publisher :
ISBN 13 :
Total Pages : 61 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Digital Conglomerates and EU Merger Control - Analysis of the Leverage Theory of Harm by : Manav Chadha

Download or read book Digital Conglomerates and EU Merger Control - Analysis of the Leverage Theory of Harm written by Manav Chadha and published by . This book was released on 2020 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: The central theme of this thesis is the treatment of conglomerate mergers under EU merger control, with particular reference to conglomerates in the digital markets. In particular, this thesis analyses the effects of leverage theory of harm in the traditional and the digital markets. Given that background, the author discusses whether the positive prior treatment afforded to conglomerate mergers in traditional markets should also be extended to digital conglomerates. Additionally, it evaluates whether the current EU merger control framework is equipped to examine the effects of conglomerate mergers in digital markets. For that purpose, the provisions under non-horizontal merger guidelines and Commission's jurisprudence to establish the conditions necessary for prohibiting conglomerate mergers on grounds of foreclosure through leverage of market power are examined. Thereafter, such conditions are applied in the context of digital markets to determine the sufficiency of the current legal framework. In doing so, this thesis focuses on certain characteristics of digital markets such as presence of economies of scope and network effects to show that the competitive effects of leveraging strategy are amplified in such markets. In conclusion, it has to be claimed that certain changes are required to the methodologies and framework under EU merger control to appropriately deal with the amplified effects of conglomerates mergers and with dynamic challenges posed by innovation in the digital markets.

A comparative analysis of EU and US transnational mergers regulation

Author : Dimitris Liakopoulos
Publisher : GRIN Verlag
ISBN 13 : 3668599114
Total Pages : 389 pages
Book Rating : 4.6/5 (685 download)

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Book Synopsis A comparative analysis of EU and US transnational mergers regulation by : Dimitris Liakopoulos

Download or read book A comparative analysis of EU and US transnational mergers regulation written by Dimitris Liakopoulos and published by GRIN Verlag. This book was released on 2017-12-22 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: Document from the year 2017 in the subject Law - Civil / Private, Trade, Anti Trust Law, Business Law, grade: A, , language: English, abstract: The major problem associated with the regulation of transnational mergers, which affect several national markets, is the allocation of jurisdiction. Each country concerned may wish to exert jurisdiction and apply its national competition law to regulate the anti-competitive effects a merger may have in its territory. However, this approach may lead to risks of inconsistent decisions regarding the legality of mergers. Indeed, the national competition laws applied by the regulating authorities may diverge in several aspects, which raise the likelihood of inconsistency. The authors advocates the creation of an international merger control framework (IMCF) for the regulation of transnational mergers. This framework will rest on an informal and a formal pillar. The former includes non-legally binding competition principles. Consistency of these principles with the concepts of legitimacy and efficiency, as well as the presence of peer reviews and assistance programmes, should lower the risk of non-implementation. The formal pillar includes bilateral cooperation agreements which apply to merger affecting the countries which have concluded the agreements. As essential pre-condition for the application of bilateral agreements, the level of cooperation achieved by such agreements should be at least equal to that ensured by the informal pillar. The last part of the study addresses and examines the long and complex processes in merger and acquisition (M&A) transactions. M&A arbitration faces certain difficulties during the transaction. Such difficulties the author seeks to underline. Two main problems of arbitration in M&A transactions, particullarly, have been covered. Firstly, the problem of consent in consolidation of parallel proceedings during M&A transactions, and, secondly parties' consent that validate arbitration agreements/clauses in “assignment” or “succession” after M&A transactions have been completed. The author also tries to clarify the content of consent of parties to a transaction. Finally, a criticism of parallel proceedings is enhanced.

Merger Control in the European Union

Author : Edurne Navarro Varona
Publisher :
ISBN 13 : 0199276056
Total Pages : 65 pages
Book Rating : 4.1/5 (992 download)

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Book Synopsis Merger Control in the European Union by : Edurne Navarro Varona

Download or read book Merger Control in the European Union written by Edurne Navarro Varona and published by . This book was released on 2005 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second edition provides an exhaustive analysis of the European Community rules relating to merger control, including the new EC Merger Regulation 139/2004 of 20 January 2004 which entered into force on 1 May 2004 and the latest interpretive notices adopted by the European Commission. The book draws upon the authors' detailed and practical knowledge of the subject as officials at DG Competition and practitioners specialising in this field, and will be updated through a companion website.

EU Merger Control

Author : Ioannis Kokkoris
Publisher : OUP Oxford
ISBN 13 : 9780199644131
Total Pages : 0 pages
Book Rating : 4.6/5 (441 download)

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Book Synopsis EU Merger Control by : Ioannis Kokkoris

Download or read book EU Merger Control written by Ioannis Kokkoris and published by OUP Oxford. This book was released on 2014-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic issues play a pivotal role in competition enforcement. Integrating economic and legal analysis throughout, this work provides expert coverage of both the substantive and procedural law relating to merger control in the EU, considering EU and national case law. The key substantive and procedural issues in the US are also considered.