Cross-border M&A: focus on antitrust filings

Competition authorities in the U.S. and EU are cracking down on gun jumping violations.

  

 In the U.S., a civil penalty equivalent to over JPY50 billion was imposed for antitrust violations in connection with Canon's acquisition of Toshiba Medical Systems Corp; a move consistent with a trend continuing since the AT&T decision issued in 2016.

  

 Last year, the European Commission imposed a fine equivalent to over JPY13 billion on Altice for gun jumping due to insufficient "clean-team" arrangement. These cases require companies to review their existing pre-merger notification processes.

  

 Featuring U.S. and EU competition lawyers, we will discuss how Japanese companies can navigate key jurisdictions such as the U.S. and EU while highlighting recent trends and hot topics in cross-border transactions.

 Key topics that will be addressed during the seminar include: •How to properly manage gun-jumping risks in global M&A transactions

•Creation of a new “Tech Task Force” in the U.S. Federal Trade Commission

•Recent trends surrounding behavioral remedies in merger reviews in the U.S.

•Analysis of recent cases – Altice EU, AT&T vertical merger


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