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2 Merger Control Regimes Around the World

From: Merger Control, National Security, and Foreign Direct Investment Screening: A Comparative Perspective (1st Edition)

Ioannis Kokkoris

From: Oxford Competition Law (http://oxcat.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 19 July 2024

Subject(s):
Merger control

This chapter introduces the intricate landscape of global merger control, providing an in-depth exploration of both substantive and procedural aspects across various jurisdictions. It illustrates the prevailing regulatory models, focusing on their historical development, underlying goals, and procedures. Substantively, the analysis discusses elements such as the market definition, the theories of harm (and the respective tests), the treatment of efficiencies, and ancillary restraints. On the procedural front, the chapter reviews a mosaic of different practices, from notification requirements and pre-merger discussions, to review timelines and remedies. Based on this analysis, the chapter acknowledges the need for greater consistency in both substance and procedure, to limit the burden imposed on business players in the form of larger costs and reduced certainty. On the other hand, the chapter suggests that the ongoing shift towards industrial policy is unlikely to lead to harmonization, but rather will enhance discrepancies even in industries that don’t necessarily raise national security concerns.

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