European Commission reduces notification burden for more mergers - .PDF file.
The European Commission has announced its plans to both reshape the simplified merger notification process within the framework of the EUMR in order to extend the option of simplified notification to more merging businesses and to reduce the administrative burden on all merger notifications, with effect from 1 January 2014. This will bring benefits for both businesses, their advisers and the European Commission.
As part of the commission’s ongoing review of its processes, a consultation carried out by the commission in 2013 has prompted changes to the existing process with a view to reducing costs and preparatory work for businesses notifying transactions. In addition, the European Commission carried out targeted analysis of 850 completed mergers that were notified with a Form CO (full version) but that perhaps could have benefited from the simplified procedure given they did not raise any competition concerns.
The new ‘simplification package’ broadens the applicability of the simplified notification procedure and reduces the amount of information merging businesses are required to submit. In addition, model texts have been drafted for use by merging businesses to address any competition law concerns…
If you are registered and logged in to the site, click on the link below to read the rest of the DLA Piper briefing. If not, please register or sign in with your details below.