Mayer Brown is pleased to announce the fifth program in our webinar series, Global Strategies: Doing Business Internationally. Focusing on the challenges and issues companies face when conducting business internationally, each session will feature a discussion of issues relevant to companies doing business in countries around the globe.
Cross-border mergers frequently trigger pre-closing antitrust reviews. Reviewing jurisdictions include those with well-developed competition laws such as Canada, the European Union and its Member States, the United States and Japan, as well as a growing list of newcomers. More than 90 countries now have obligatory pre-merger filing requirements, and while there is a growing trend towards standardization of filing requirements and processes, national particularities have to be carefully considered.
In recent years, the merger regimes of emerging market countries, including China, Pakistan, India and Indonesia, have added further complexity to the filing process. Different substantive and procedural regimes can make a multi-jurisdictional transaction a complex, expensive and time-consuming process. Cooperation and exchange of information between competition authorities is increasing, and they are sharing information on definition of markets, likely competitive impacts, and viability of remedies.
The centralized coordination of merger filings across a global organization is beneficial and brings value in terms of achieving timely clearances, avoidance of inconsistent positions and less interruption with ongoing business. By not coordinating filings across jurisdictions, businesses run the risk of inconsistent filings or setting precedents in one jurisdiction that are counter to an organization’s overall global position.
Please join us on April 27, 2011, as Mayer Brown attorneys Gerry O’Brien (Hong Kong), Jens Peter Schmidt (Brussels) and Adrian Steel (Washington, DC), discuss the benefits related to global merger filing coordination, including
- Getting regulatory approvals in time;
- Maintaining consistency in filings;
- Achieving cost savings through the use of a centralized repository of commonly used information and data;
- Establishing criteria for making a business decision on when not to file; and
- Developing an approach for dealing with newly established filing schemes.