EU megamerger approval process set to improve; changes to the Merger Control Regulation will affect acquisitions and joint ventures
Article Abstract:
An amendment to the European Union (EU) Merger Control Regulation has been adopted and will take effect on Mar 1, 1998, promising more legal certainty and a less costly process. It is Council Regulation 1310/97, amending the Council Regulation 4064/89. The amendment will increase the number of cases under the regulation heard each year by the European Commission, but not by as much as industry would prefer. The amendment should impact EU competition by requiring clearance for corporate mergers only by the European Commission's Merger Task Force.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1997
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Law puts parties in a bind when announcing merger; harmonizing the requirements for prompt disclosure with prohibitions against selling or soliciting prematurely is no simple feat
Article Abstract:
Coreporations thinking of merging have to balance required prompt disclosure with prohibitions against premature soliciting or sale in the Securities Act. Proxy statements contain the requisite information for most mergers not involving tender offers. Analyst presentations and merger press releases are also possibilities, but care must be taken to ensure that they are as objective as possible; subjective elements and speculation must be avoided. Cases on the subject are discussed.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
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