EU Merger Control in a globalised economyClick here to read the full article online
Globalisation is a complex phenomenon, rife with opportunities, but also with challenges. In recent years, most economies have become increasingly interconnected and many sectors and activities gradually globalised. Unavoidably, this phenomenon has had an impact on merger enforcement in the EU. Transactions notified to the European Commission have progressively involved more and more firms headquartered outside the EU or EEA or with activities all over the globe. Nowadays, merger investigations often involve broader geographic markets than yesteryear. The (actual or potential) competitive role of suppliers established in third countries may constitute, in a number of cases, a significant (even determinative) aspect of the merger assessment. Often, deals are examined in multiple jurisdictions. At times, the remedies required to clear the transaction include businesses and assets which lay outside the EU. This article tries to concisely explain how EU merger control has addressed this increasingly international dimension of business in recent years.