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European Commission Announces New Approach to Merger Review Referrals Falling Below Thresholds

Under current EU merger control rules, whether a concentration has to be notified to the European Commission (“Commission”) depends, among other things, on the level of revenue generated by the parties worldwide and in the European Union.  A key question that has sparked considerable debate in recent years is whether the current merger control thresholds cover all transactions that have the potential to harm competition, or whether there is a so-called “enforcement gap”. On September 11, during the International Bar Association’s 24th Annual Competition Conference, Competition Commissioner Margrethe Vestager announced that the Commission intends to change its approach towards referrals to the EU from national competition authorities. Commissioner Vestager noted that although the current, revenue-based thresholds set out in the EU Merger Regulation generally work well, revenue does not always reflect a company’s significance – particularly in innovative...

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Italian Competition Authority Updates Merger Control Turnover Thresholds

by Martino Sforza The Italian Competition Authority has updated its merger control turnover thresholds.  Effective as of today, November 21, 2011, Section 16(1) of Law no. 287 of October 10, 1990, requires prior notification of all mergers and acquisitions where either of the following conditions is fulfilled: Aggregate turnover in Italy of all undertakings involved is above EUR 468 million Aggregate turnover in Italy of the target company is above EUR 47 million No notification is required if the target is a foreign company which did not generate any turnover in Italy in the last three years and is not expected to do so as a result of the transaction. Italy's merger control thresholds are adjusted annually to take into account increases in the GDP deflator index.  The updated thresholds are published in the Competition Authority's Bulletin once this increase in index is announced officially.

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International News Issue 2 2010

McDermott Will & Emery's International News, Issue 2, 2010, covers a range of legal developments of interest to those operating internationally.  This issue focuses on Antitrust and Competition. In this issue... Merger Control: Gun Jumping Goes Global International Cartel Enforcement: On the Rise and More Severe China's Anti-Monopoly Law: Experience and Lessons Learned After Two Years Antitrust Enforcement Under the Obama Administration: One Year Later Class Actions: An EU Update Information Sharing under EU Competition Law: Handle with Care The full issue can be found at: http://www.mwe.com/info/news/int0210.htm.  

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Italian Merger Control Thresholds – New Revisions

by Veronica Pinotti and Martino Sforza The Italian Competition Authority has updated its merger control turnover thresholds.  Effective as of 31 May 2010, Section 16(1) of Law no. 287 of 10 October 1990 requires prior notification of all mergers and acquisitions where either of the following conditions is fulfilled: Aggregate turnover in Italy of all undertakings involved is above EUR 472 million (revised under the terms of the same Section 16(1)) Aggregate turnover in Italy of the target company is above EUR 47 million (as revised)   No notification is required if the target is a foreign company which did not generate any turnover in Italy in the last three years and is not expected to do so as a result of the transaction. Italy's merger control thresholds are adjusted annually to take into account increases in the GDP deflator index.  The updated thresholds are published in the Competition Authority's Bulletin once this increase in index is...

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Italian Merger Control Thresholds – New Revisions

by Veronica Pinotti and Martino Sforza The Italian Competition Authority today updated its merger control turnover thresholds. As of 27 July 2009, Section 16(1) of Law no. 287 of 10 October 1990, requires prior notification of all mergers and acquisitions involving the following: aggregate turnover in Italy of all undertakings involved above EUR 461 million (revised under the terms of the same Section 16(1)); or aggregate turnover in Italy of the target company above EUR 46 million (as revised)   No notification is required if the target is a foreign company, which did not generate any turnover in Italy in the last 3 years, and it is not expected to do so as a result of the transaction. Thresholds are adjusted each year to take account of increases in the GDP deflator index.  The resolution is published in the Authority's Bulletin after the increase in the index has been officially announced (as to the thresholds in force, see the Authority's...

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