- EU merger control—new guidance brings uncertainty—particularly for tech and pharma acquisitions
- An ‘elegant solution’ that was hiding in plain sight? Or a power-grab?
- Attempts to challenge the Article 22 referral before French and Dutch national courts fail but reveal significant divergence across the EU
- A patchwork quilt of merger regimes?
- Other means to challenge?
- Just how much uncertainty does this guidance bring?
- Factors that may trigger an Article 22 referral
- Worryingly—even closed transactions can be referred
- Some increased potential for mischief?
- What does this mean for tech and pharma acquisitions?
Life Sciences analysis: Pauline Kuipers, partner and Bróna Heenan, associate, both at Bird & Bird LLP discuss the new European Commission guidance on the interpretation of the Article 22 referral mechanism and the rules which will guide it when deciding whether to accept to investigate particular mergers.
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