Non-notifiable M&A deals can be reviewed under abuse of dominance rules: does heightened regulatory intervention in deal-making lie ahead?

INTRODUCTION On 16 March 2023, the Court of Justice of the European Union (CJEU) issued its keenly anticipated judgment in Towercast1(Judgment), following a request for a preliminary ruling by the Court of Appeal, Paris (Court of Appeal). The Judgment clarifies that acquisitions by dominant companies that do not meet the EU or national merger control … Read more

EU Foreign Subsidies Regulation Adopted – Draft Implementing Regulation to be Published Beginning of 2023

The EU has now formally adopted its new Foreign Subsidies Regulation (“FSR”), which will start to apply from mid-2023. The European Commission will shortly be publishing a draft Implementing Regulation, which will set out what must be included in notifications under the FSR and further procedural details. This should help companies focus the due diligence … Read more

EU Reaches Agreement on Foreign Subsidies Regulation – New Regime to Enter into Force Next Year

The EU has reached political agreement in relation to the much-anticipated foreign subsidies regulation (the “Regulation”), which should become operational next year. The Regulation essentially creates a new subsidy control regime for third country subsidies affecting the EU market and has the potential to significantly increase the regulatory risk and burdens for foreign companies operating … Read more