Read the 10 best academic and business antitrust articles published in 2012!

Nominated by Julie Brill, Alexander Italianer, Frédéric Jenny, Bill Kovacic, Bruno Lasserre

Previous business/academic article Next business/academic article

Avoiding a Phase II Investigation in Brussels: When Will Phase I Remedies Work in EU Merger Control?

Anne MacGregor and Christian J. Lorenz, The Threshold (ABA) , 2012, pp. 43-53.

See Christian Lorenz's resume See Anne MacGregor's resume

Click here to read the full article online

While a string of high-profile Phase II merger control proceedings before the European Commission (“EC”) in recent years have made headlines, in each year during the last decade, at least as many cases have been cleared with commitments at the end of Phase I as have been put into an in-depth investigation. This article examines the Phase I remedy phenomenon under the EU Merger Regulation (“EUMR”) and explores a number of questions. How often does the EC clear deals with remedies in Phase I? How does the procedure and timeline for offering remedies at that stage play out? What does a successful Phase I remedy look like? Does a Phase I commitment perhaps mean giving away more at a stage when the regulator’s theory of harm is largely undeveloped, when a lesser remedy or no remedy might suffice after a Phase II in-depth investigation has been completed? And are some transactions perhaps more natural candidates for conditional Phase I clearance than others?

© 2013 - Institute of Competition Law Download our brochure