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Bigger Is Better. . .Or Maybe Not: The Siemens/Alstom Railway Merger

The European Commission recently reaffirmed that industrial policy objectives have no role to play when it comes to applying the EU merger control rules. Despite unusually intense industrial and political pressure to get the Siemens/Alstom railway merger done, Competition Commissioner Vestager has forcefully reiterated that the substantive test under the EU Merger Regulation remains exclusively competition based. Read the full article.

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THE LATEST: EU Commission Fines Facebook EUR 110 million for Providing Incorrect or Misleading Information

The Commission’s EUR 110 million fine on Facebook for breach of its procedural obligations under the EU merger control rules underscores the need to submit full, accurate and reliable information during the Commission’s merger control review process. An intentional or negligent failure to do so will lead to draconian fines—even where the provision of incorrect or misleading information does not have an impact on the ultimate outcome of the Commission’s decision. WHAT HAPPENED: In October 2014, the Commission gave Phase I merger control clearance to the acquisition of WhatsApp by Facebook (Transaction). In December 2016, that Commission announced that it had sent Facebook a Statement of Objections alleging that Facebook had intentionally, or negligently, submitted incorrect or misleading information to the Commission during its review of the Transaction by stating that it was unable to establish reliable automated matching between its users’ accounts and...

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