Europe, US get closer on merger legislation

The European Commission (EC) is to step up its cooperation with the US over merger reviews in an effort to minimise the number of cases where the two sides come to different conclusions

Mario Monti, the competition policy commissioner, said that agreement on a set of “best practices” would lead to “a more structured basis for our cooperation in reviews of individual merger cases that require regulatory clearance on both sides of the Atlantic”.
The development follows three recent decisions by the European Court of Justice to overturn merger decisions taken by Monti's office.
The US and EU competition authorities will be urged to consider cases simultaneously, exchange information (with consent) and become able to conduct joint EU-US interviews of the principals.