Document from the year 2017 in the subject Law - Civil / Private / Trade
/ Anti Trust Law / Business Law, grade: A, language: English, abstract:
The major problem associated with the regulation of transnational
mergers, which affect several national markets, is the allocation of
jurisdiction. Each country concerned may wish to exert jurisdiction and
apply its national competition law to regulate the anti-competitive
effects a merger may have in its territory. However, this approach may
lead to risks of inconsistent decisions regarding the legality of
mergers. Indeed, the national competition laws applied by the regulating
authorities may diverge in several aspects, which raise the likelihood
of inconsistency. The authors advocates the creation of an international
merger control framework (IMCF) for the regulation of transnational
mergers. This framework will rest on an informal and a formal pillar.
The former includes non-legally binding competition principles.
Consistency of these principles with the concepts of legitimacy and
efficiency, as well as the presence of peer reviews and assistance
programmes, should lower the risk of non-implementation. The formal
pillar includes bilateral cooperation agreements which apply to merger
affecting the countries which have concluded the agreements. As
essential pre-condition for the application of bilateral agreements, the
level of cooperation achieved by such agreements should be at least
equal to that ensured by the informal pillar. The last part of the study
addresses and examines the long and complex processes in merger and
acquisition (M&A) transactions. M&A arbitration faces certain
difficulties during the transaction. Such difficulties the author seeks
to underline. Two main problems of arbitration in M&A transactions,
particullarly, have been covered. Firstly, the problem of consent in
consolidation of parallel proceedings during M&A transactions, and,
secondly parties' consent that validate arbitration agreem
