'Gun Jumping' in the merger implementation in the EU in light of the Altice Case

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11220%2F21%3A10442398" target="_blank" >RIV/00216208:11220/21:10442398 - isvavai.cz</a>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

'Gun Jumping' in the merger implementation in the EU in light of the Altice Case

Popis výsledku v původním jazyce

The paper analyses the scope of the gun jumping prohibition in light of the judgment of the General Court in the Altice case (T-425/18). After introducing the facts of the case, it dives into the legal issues raised. It concentrates on the main areas of concern - the scope of Article 4(1) and 7(1) of the EU Merger Regulation, the pre-closing covenants in the transaction documentation and the exchange of information. The paper identifies four important implications of the Altice case. First, the case confirms that con- current violation of notification and standstill obligation is possible. Second, it provides clearer guidance as to which pre-closing covenants may be regarded as granting the acquirer a possibility of exercising control over the target. Third, it confirms that a con- centration may be implemented by pre-closing covenants regardless of their actual im- plementation. Finally, it makes clear that excessive information exchange may support the finding of decisive influence.

Název v anglickém jazyce

'Gun Jumping' in the merger implementation in the EU in light of the Altice Case

Popis výsledku anglicky

The paper analyses the scope of the gun jumping prohibition in light of the judgment of the General Court in the Altice case (T-425/18). After introducing the facts of the case, it dives into the legal issues raised. It concentrates on the main areas of concern - the scope of Article 4(1) and 7(1) of the EU Merger Regulation, the pre-closing covenants in the transaction documentation and the exchange of information. The paper identifies four important implications of the Altice case. First, the case confirms that con- current violation of notification and standstill obligation is possible. Second, it provides clearer guidance as to which pre-closing covenants may be regarded as granting the acquirer a possibility of exercising control over the target. Third, it confirms that a con- centration may be implemented by pre-closing covenants regardless of their actual im- plementation. Finally, it makes clear that excessive information exchange may support the finding of decisive influence.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50501 - Law

Projekt

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Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2021

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Challenges of Law in Business and Finance

ISBN

978-606-95351-1-0

ISSN

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e-ISSN

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Počet stran výsledku

12

Strana od-do

95-106

Název nakladatele

ADJURIS – International Academic Publisher

Místo vydání

Bucharest, Paris, Calgary

Místo konání akce

Praha

Datum konání akce

4. 11. 2021

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000783778100008