European merger remedies: law and policy
Saved in:
| Main Author: | |
|---|---|
| Format: | Thesis Book |
| Language: | English |
| Published: |
Oxford
Hart
2014
|
| Series: | Hart studies in competition law
7 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XXXIV, 252 S. |
Staff View
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Record in the Search Index
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DETAILED CONTENTS
PREFACE
V
ABBREVIATIONS XIII
TABLE OF CASES XV
TABLE OF LEGISLATION XXV
TABLE OF AGREEMENTS XXXV
1. THE COMMISSION'S REMEDIES POLICY 1
1.1 INTRODUCTION 1
1.1.1 MERGER REMEDIES 1
1.1.2 THIS BOOK 3
1.1.2.1 OBJECTIVES AND LIMITATIONS 3
1.1.2.2 STRUCTURE 5
1.1.2.3 CITATIONS 6
1.2 CHRONOLOGICAL OVERVIEW 7
1.2.1 THE LEARNING PHASE 7
1.2.2 THE ACCELERATION PHASE 9
1.2.3 THE CONSOLIDATION PHASE 11
1.2.4 FORTHCOMING RE-EVALUATION PHASE? 13
1.3 REMEDIES GUIDANCE 16
1.3.1 MERGER REGULATION 16
1.3.2 REMEDIES NOTICE 17
1.3.3 BEST PRACTICE REMEDIES GUIDELINES 18
1.3.4 US REMEDIES GUIDANCE 20
1.4 REMEDIES REVIEWS 21
1.4.1 THE DG COMPETITION REMEDIES STUDY 21
1.4.2 THE DG ENTERPRISE ECONOMETRIC REMEDIES STUDY 22
1.4.3 THE FTC DIVESTITURE STUDY 22
1.4.4 OTHER REVIEWS 23
1.4.4.1 THE OECD REMEDIES STUDIES 23
1.4.4.2 THE ICN REMEDIES REVIEW PROJECT 25
1.4.4.3 OTHER STUDIES 26
1.5 REFLECTIONS ON REMEDIES ENFORCEMENT OBJECTIVES 28
2. NEGOTIATING, SUBMITTING, ASSESSING AND ADOPTING REMEDIES 35
2.1 GENERAL PRINCIPLES 35
2.1.1 STEP ONE: IDENTIFYING COMPETITION CONCERNS 35
2.1.2 STEP TWO: REMEDYING COMPETITION CONCERNS 38
2.1.2.1 INITIATIVES, ONUS AND RESPONSIBILITIES 38
2.1.2.2 PRE-DEARANCE MODIFICATIONS 40
X DETAILED CONTENTS
2.1.2.3 COMMITMENTS TO MODIFY POST CLEARANCE
2.1.2.4 CLASSIFICATIONS OF REMEDIES
2.2 SUBMITTING REMEDIES
2.2.1 REQUIREMENTS
2.2.2 PHASE I
2.2.3 PHASE II
2.2.3.1 DEADLINES
2.2.3.2 'EXCEPTIONAL CIRCUMSTANCES'
2.2.3.3 POST-DEADLINE MODIFICATIONS
2.3 ASSESSING REMEDIES
2.3.1 PROPORTIONALITY AND ELIMINATION OF COMPETITION CONCERNS
2.3.2 CERTAINTY
2.3.3 COMPLEXITY AND MONITORING
2.4 CONSULTING ON REMEDIES
2.4.1 MARKET TEST
2.4.2 MEMBER STATES
2.4.3 INVOLVEMENTS OF OTHER AUTHORITIES
2.5 ADOPTING REMEDIES
2.5.1 IMPOSING CONDITIONS AND OBLIGATIONS
2.5.2 'TAKE NOTE COMMITMENTS'
2.5.3 ADOPTION AND PUBLICATION
3 ESSENTIAL FEATURES OF DIVESTITURE REMEDIES
3.1 ENSURING VIABILITY
3.2 TYPES OF STRUCTURAL REMEDIES
3.2.1 STAND-ALONE BUSINESS
3.2.2 CARVE-OUTS
3.2.3 SELECTED ASSETS
3.2.4 LICENCE ARRANGEMENTS
3.2.4.1 TECHNOLOGY
3.2.4.2 RE-BRANDING
3.2.5 SEVERANCE OF LINKS WITH COMPETITORS
3.2.5.1 INTRODUCTORY REMARKS
3.2.5.2 DIVESTITURE OF MINORITY SHAREHOLDING
3.2.5.3 WAIVING OF RIGHTS AND TERMINATION OF AGREEMENTS
3.3 PURCHASER REQUIREMENTS
3.3.1 INTRODUCTORY REMARKS
3.3.2 INDEPENDENCE
3.3.3 RESOURCES, EXPERTISE AND INCENTIVES
3.3.4 NO NEW COMPETITION CONCERNS OR DELAYS
3.4 'ANCILLARY'VIABILITY TOOLS
3.4.1 ADDITIONAL ASSETS
3.4.2 UP-FRONT BUYERS
3.4.3 FIX-IT-FIRST
42
43
45
45
47
50
50
51
52
54
54
57
58
59
59
64
68
70
70
73
77
79
79
81
81
83
84
86
86
88
93
93
94
100
101
101
102
103
106
108
108
109
113
DETAILED CONTENTS JRI
3.4.4 ALTERNATIVE PROPOSALS: CROWN JEWELS 116
4 IMPLEMENTING AND ENFORCING REMEDIES 123
4.1 DIVESTITURE PERIODS 123
4.2 ROLE AND FUNCTIONS OF TRUSTEES 127
4.2.1 GENERAL CHARACTERISTICS 127
4.2.1.1 APPROVAL PROCEDURE AND MANDATE 127
4.2.1.2 INDEPENDENCE 130
4.2.1.3 QUALIFICATIONS AND SPECIALIST ADVISORS 135
4.2.1.4 LIAISON BETWEEN THE COMMISSION AND TRUSTEE 136
4.2.1.5 REMUNERATION 137
4.2.1.6 REPLACEMENT, DISCHARGE AND REAPPOINTMENT 138
4.2.2 MONITORING TRUSTEE'S TASKS 139
4.2.3 DIVESTITURE TRUSTEE'S TASKS 142
4.3 INTERIM PRESERVATION 144
4.3.1 THE PARTIES'OBLIGATIONS 144
4.3.2 PRESERVATION OF ASSETS 145
4.3.3 HOLD-SEPARATE MEASURES 146
4.3.3.1 HOLD-SEPARATE MANAGER 146
4.3.3.2 RING-FENCING 147
4.4 DIVESTITURE PROCESS 149
4.4.1 PUTTING THE BUSINESS UP FOR SALE 149
4.4.2 PRICE SETTING 151
4.4.3 VOLUNTARY ADDITION OF ASSETS 153
4.4.4 MODIFICATION OF REMEDIES 154
4.4.4.1 EXTENDING DIVESTITURE DEADLINES 155
4.4.4.2 REQUEST FOR WAIVERS 157
4.4.4.3 MEANS OF COMMUNICATION 163
4.5 COMPLETION OF THE SALE 164
4.5.1 APPROVAL OF PURCHASERS 164
4.5.2 REJECTION OF PURCHASERS 167
4.5.3 TRANSFER AND CLOSING 169
4.6 POST-CLOSURE/'AFTERMATH' 170
4.6.1 ON-SALESBANS 170
4.6.2 RE-ACQUISITION PROHIBITIONS 173
4.6.3 INFORMATION OBLIGATIONS 175
4.6.4 BREACH OF REMEDIES 176
4.6.5 CHALLENGING REMEDIES 180
4.6.5.1 THE MERGING PARTIES 180
4.6.5.2 THIRD PARTIES 182
5 BUILDING ON SUCCESSES AND LEARNING FROM MISTAKES 186
5.1 THE OVERALL SUCCESS STORY 186
5.2 VIABILITY REQUIREMENTS: IS THE COMMISSION REALISTIC? 188
XII DETAILED CONTENTS
5.3 ARE REMEDIES PROCEDURES SUFFICIENTLY TRANSPARENT? 189
5.3.1 PRE-DECISION 190
5.3.2 DECISION 191
5.3.3 POST-DECISION 193
5.4 ARE PHASE I PROCEEDINGS SUITABLE FOR TODAY'S REMEDIES? 194
5.5 POLICING REMEDIES: DOES THE COMMISSION DO ENOUGH? 199
5.6 FORMS AND GUIDANCE: A POTENTIAL STRAIGHTJACKET? 202
5.7 WITH GUIDANCE COME RESPONSIBILITIES: HAS THE COMMISSION DELIVERED?
204
5.8 INTERNATIONAL COOPERATION: HOW MUCH FURTHER CAN THE COMMISSION GO?
206
5.9 CONCLUDING REMARKS 211
5.9.1 IMPACT OF THE IDENTIFIED SHORTCOMINGS ON THE REMEDIES POLICY 211
5.9.2 IMPACT OF THE REMEDIES POLICY ON ENFORCEMENT OUTCOMES 213
ANNEX A: REMEDIES STATISTICS 215
ANNEX B: TABLE OF COMMISSION REMEDIES DECISIONS UNDER THE MERGER
REGULATION 217
ANNEX C: TABLE OF THE EU COURT'S JUDGMENTS CONTAINING REMEDIES ASPECTS
231
BIBLIOGRAPHY 233
INDEX 241 |
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| physical | XXXIV, 252 S. |
| publishDate | 2014 |
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| publisher | Hart |
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| series | Hart studies in competition law |
| series2 | Hart studies in competition law |
| spelling | Hoeg, Dorte Verfasser (DE-588)1046461265 aut European merger remedies law and policy Dorte Hoeg Oxford Hart 2014 XXXIV, 252 S. txt rdacontent n rdamedia nc rdacarrier Hart studies in competition law 7 Teilw. zugl.: London, King's College, Diss., 2013 Europäische Union (DE-588)5098525-5 gnd rswk-swf Mergers and Acquisitions (DE-588)4205916-1 gnd rswk-swf Unternehmenszusammenschluss (DE-588)4321280-3 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Europäische Union (DE-588)5098525-5 b Mergers and Acquisitions (DE-588)4205916-1 s Unternehmenszusammenschluss (DE-588)4321280-3 s DE-604 Hart studies in competition law 7 (DE-604)BV040263538 7 SWB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=026814230&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Hoeg, Dorte European merger remedies law and policy Hart studies in competition law Europäische Union (DE-588)5098525-5 gnd Mergers and Acquisitions (DE-588)4205916-1 gnd Unternehmenszusammenschluss (DE-588)4321280-3 gnd |
| subject_GND | (DE-588)5098525-5 (DE-588)4205916-1 (DE-588)4321280-3 (DE-588)4113937-9 |
| title | European merger remedies law and policy |
| title_auth | European merger remedies law and policy |
| title_exact_search | European merger remedies law and policy |
| title_full | European merger remedies law and policy Dorte Hoeg |
| title_fullStr | European merger remedies law and policy Dorte Hoeg |
| title_full_unstemmed | European merger remedies law and policy Dorte Hoeg |
| title_short | European merger remedies |
| title_sort | european merger remedies law and policy |
| title_sub | law and policy |
| topic | Europäische Union (DE-588)5098525-5 gnd Mergers and Acquisitions (DE-588)4205916-1 gnd Unternehmenszusammenschluss (DE-588)4321280-3 gnd |
| topic_facet | Europäische Union Mergers and Acquisitions Unternehmenszusammenschluss Hochschulschrift |
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