The European Union and United Kingdom have each proposed modifications of their antitrust rules on distribution. The proposals diverge significantly on common distribution practices, creating legal challenges for distribution...more
The European Commission (EC) has proposed legislation to curb M&A, public procurement and market conduct by foreign-subsidized companies that may distort the European Union’s internal market. New requirements include...more
The U.K.’s Competition & Markets Authority (CMA) has released new merger assessment guidelines that confirm the U.K. regulator’s intensified approach to merger control.1 The guidelines largely codify the CMA’s recent output,...more
4/19/2021
/ Acquisitions ,
Competition ,
Corporate Counsel ,
Digital Platforms ,
EU ,
European Commission ,
Guidance Update ,
Merger Controls ,
Mergers ,
New Guidance ,
UK ,
UK Competition and Markets Authority (CMA)
The new Article 22 EU Merger Regulation (EUMR) Guidance released by the European Commission (EC) enables the EC to review any acquisition, even those that do not qualify for notification under national (or EU) merger control...more
Takeaways -
- The TCA requires parties to maintain standards in nontrade-related policy areas, particularly social, labour and environmental.
- The provisions potentially may disrupt EU-UK trade disputes.
- It...more
The Trade and Cooperation Agreement (TCA) governing post-Brexit trade relations between the UK and the EU includes provisions regulating EU-UK antitrust enforcement and cooperation effective 1 January 2021....more
Financial services, including insurance and reinsurance (together, (re)insurance), have effectively been omitted from the Trade and Cooperation Agreement (TCA), resulting in arguably the “hardest” Brexit for any key UK...more
The European Union (EU)-U.K. Trade and Cooperation Agreement (TCA) governing post-Brexit trade relations between the U.K. and the EU includes provisions regulating EU/U.K. antitrust enforcement and cooperation effective...more
1/14/2021
/ Antitrust Provisions ,
Cartels ,
Competition ,
EU ,
International Tax Issues ,
Member State ,
Merger Controls ,
State Aid ,
UK ,
UK Brexit ,
UK Competition and Markets Authority (CMA) ,
Withdrawal Agreement
December 31, 2020, is the last day of the Brexit transition period under the Agreement on the Withdrawal of the United Kingdom of Great Britain and Northern Ireland From the European Union and the European Atomic Energy...more
10/6/2020
/ Antitrust Investigations ,
Antitrust Litigation ,
EU ,
Exhaustion Doctrine ,
Free Trade Agreements ,
Intellectual Property Litigation ,
Merger Controls ,
Mergers ,
State Aid ,
UK ,
UK Brexit ,
UK Competition and Markets Authority (CMA) ,
Withdrawal Agreement
The European Commission’s (EC) June 2020 white paper proposing wide-ranging controls over foreign-subsidized companies’ access to Europe’s internal market has received fresh impetus. In a report issued earlier this month, the...more
In recent months, European states have raced to implement protections against opportunistic acquisitions of key local businesses by foreign buyers amid the economic disruption caused by the spread of COVID-19. ...more
Summary -
The European Commission (EC) has proposed far-reaching new powers to investigate and sanction foreign subsidies that have allegedly distortive effects on the European Union’s (EU) internal market. The proposals...more
In her opinion issued on June 4, 2020, Advocate General (AG) Juliane Kokott recommended that the European Court of Justice (ECJ) dismiss in its entirety the appeal by Lundbeck A/S and Lundbeck Ltd against the General Court’s...more
6/9/2020
/ Advocate General ,
Cartels ,
Competition ,
EU ,
European Court of Justice (ECJ) ,
Generic Drugs ,
Intellectual Property Protection ,
Manufacturers ,
Marketing ,
Patents ,
Pay-For-Delay ,
Pharmaceutical Industry
The coronavirus pandemic has weakened European economies and companies. EU and national governments have expressed concern that foreign investors may opportunistically take advantage of the crisis to acquire domestic...more
4/21/2020
/ Acquisitions ,
Coronavirus/COVID-19 ,
Corporate Counsel ,
Critical Infrastructure Sectors ,
Enterprise Act 2002 ,
EU ,
European Commission ,
Foreign Investment ,
France ,
Hostile Takeover ,
Merger Controls ,
Mergers ,
National Security ,
National Security Review Proceedings ,
Publicly-Traded Companies ,
Technology Sector ,
UK
In this series, “Critical Thinking in the Time of COVID-19,” our European tax practice examines the next stage of analysis for corporates that have begun digesting the economic and legal impact of COVID-19 on their...more
4/6/2020
/ Compliance ,
Coronavirus/COVID-19 ,
Corporate Taxes ,
EU ,
France ,
Germany ,
International Tax Issues ,
Lobbying ,
Social Insurance Contributions ,
State Aid ,
UK
The global spread of the novel coronavirus has disrupted everyday life all over the world and imposed significant difficulties on the business community. Antitrust merger reviews — and the authorities who conduct those...more
4/3/2020
/ Asia ,
China ,
Competition Authorities ,
Coronavirus/COVID-19 ,
Department of Justice (DOJ) ,
EU ,
European Commission ,
Federal Trade Commission (FTC) ,
Filing Requirements ,
Hart-Scott-Rodino Act ,
Merger Reviews ,
Mergers ,
Notice Requirements ,
Office Closures ,
Relief Measures ,
Saudi Arabia ,
South America ,
State Administration for Market Regulation (SAMR) ,
UK ,
UK Competition and Markets Authority (CMA)
State measures to combat the spread of COVID-19 have brought many countries across Europe to a standstill. While health care systems struggle to respond, the pandemic has also provided “a major shock for our economies.”1...more
3/31/2020
/ Antitrust Violations ,
Collaboration ,
Competition Authorities ,
Coronavirus/COVID-19 ,
EU ,
European Commission ,
Foreign Investment ,
Merger Controls ,
National Security ,
Personal Protective Equipment ,
State Aid ,
Supply Chain ,
UK ,
UK Competition and Markets Authority (CMA)
On December 4, 2019, Skadden hosted a discussion with Sir Marcus Smith QC, a Justice of the High Court and a chair of the Competition Appeal Tribunal (Tribunal). Sir Marcus has presided over leading cases in the U.K. on...more
3/27/2020
/ Antitrust Litigation ,
Burden of Proof ,
Cartels ,
Collective Actions ,
Competition ,
Damages ,
Discovery ,
EU ,
Judicial Review ,
Third-Party ,
UK ,
UK Brexit ,
UK Competition and Markets Authority (CMA)
As the COVID-19 pandemic spreads rapidly around the world, and countries take unprecedented measures to contain the spread of the disease, businesses are increasingly struggling with the economic impact of this crisis. While...more
The U.K. Competition and Markets Authority (CMA) has published “Guidance on the Functions of the CMA Under the Withdrawal Agreement” (Guidance), which sets out the regulator’s approach to merger and competition cases during...more
2/13/2020
/ Abuse of Dominance ,
Acquisitions ,
Antitrust Investigations ,
Cartels ,
Condition Precedent ,
Corporate Counsel ,
EU ,
European Commission ,
Exclusive Jurisdiction ,
Jurisdiction ,
Long Arm Statute ,
Merger Reviews ,
Mergers ,
One-Stop Shop ,
Parallel Proceedings ,
Transitional Arrangements ,
UK ,
UK Brexit ,
UK Competition and Markets Authority (CMA) ,
Withdrawal Agreement
Despite political and economic uncertainties, markets and deal activity were resilient in 2019, and strong fundamentals remain in place heading into 2020. Companies continue to face a challenging litigation and enforcement...more
1/30/2020
/ Acquisitions ,
Administrative Procedure Act ,
Anti-Discrimination Policies ,
Anti-Harassment Policies ,
Anti-Kickback Statute ,
Antitrust Investigations ,
Appeals ,
Arbitration Awards ,
Attorney General ,
Backstop Agreements ,
BEPS ,
BitLicense ,
Blockchain ,
Board of Directors ,
Bonds ,
Capital Markets ,
CFIUS ,
CFTC ,
Chapter 11 ,
Claim Preclusion ,
Class Action ,
Commercial Bankruptcy ,
Common Stock ,
Congressional Investigations & Hearings ,
Congressional Subpoenas ,
Consumer Financial Protection Bureau (CFPB) ,
Cooperation Agreement ,
Copyright ,
Corporate Governance ,
Corporate Restructuring ,
Corporate Social Responsibility ,
Corporate Taxes ,
Corwin Doctrine ,
Covenant Lite Deals ,
Creditors ,
Cross-Border Transactions ,
DACA ,
DE Supreme Court ,
Debt Financing ,
Debtors ,
Department of Justice (DOJ) ,
Dischargeable Debts ,
Disgorgement ,
Disparate Impact ,
Dodd-Frank ,
Down Rounds ,
Drug Pricing ,
EBITDA ,
Employee Retirement Income Security Act (ERISA) ,
Employer Liability Issues ,
Employment Discrimination ,
Enforcement Actions ,
Enforcement of Foreign Judgments ,
Enterprise Act 2002 ,
Environmental Social & Governance (ESG) ,
EU ,
Fair Housing Act (FHA) ,
Federal Trade Commission (FTC) ,
FinTech ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
Foreign Issuers ,
FRCP 23 ,
General Data Protection Regulation (GDPR) ,
General Elections ,
GILTI tax ,
High-Yield Markets ,
Hong Kong ,
Hong Kong Stock Exchange ,
Individual Accountability ,
Initial Public Offering (IPO) ,
Intellectual Property Litigation ,
Intercreditor Agreements ,
International Arbitration ,
International Litigation ,
IRS ,
Issue Preclusion ,
Japan ,
Joint Venture ,
Legislative Agendas ,
Life Sciences ,
Listing Rules ,
Litigation Strategies ,
Make-Whole Premium ,
Mergers ,
MFW ,
Multinationals ,
National Security ,
PCAOB ,
Pharmaceutical Industry ,
Political Parties ,
Preferred Shares ,
Private Offerings ,
Privately Held Corporations ,
Proxy Advisory Firms ,
Publicly-Traded Companies ,
Refinancing ,
Regulatory Agenda ,
Reporting Requirements ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Separation of Powers ,
Shareholder Activism ,
Shareholder Proposals ,
Shareholders ,
Split of Authority ,
State Labor Laws ,
Stock Drop Litigation ,
Tax Cuts and Jobs Act ,
Tax Litigation ,
Technology Sector ,
Third-Party Release Agrements ,
Transparency ,
UK ,
UK Brexit ,
Valuation ,
White Collar Crimes
This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including a review of the first year of GDPR enforcement, analysis of...more
10/3/2019
/ Anti-Money Laundering ,
Appeals ,
Blocking Statutes ,
Bribery ,
CFTC ,
China ,
CLOUD Act ,
Communication Restrictions ,
Compliance ,
Conspiracies ,
Cooperation Agreement ,
Crime (Overseas Production Orders) Act 2019 (the COPO Act) ,
Criminal Prosecution ,
Cross-Border Transactions ,
Cryptocurrency ,
Cybersecurity ,
Deferred Prosecution Agreements ,
Denial of Certiorari ,
Department of Justice (DOJ) ,
Deutsche Bank ,
Disclosure ,
Dodd-Frank ,
Economic Sanctions ,
Enforcement Actions ,
EU ,
EURIBOR ,
Exports ,
Extradition ,
Extraterritoriality Rules ,
Financial Conduct Authority (FCA) ,
Financial Records ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Exchanges ,
France ,
Fraud ,
General Data Protection Regulation (GDPR) ,
Government Investigations ,
Hackers ,
Hungary ,
Imports ,
India ,
Indictments ,
Information Sharing ,
Iran Sanctions ,
Israel ,
Lithuania ,
Money Laundering ,
Morrison v National Australia Bank ,
Multinationals ,
Office of Foreign Assets Control (OFAC) ,
Opioid ,
Pharmaceutical Industry ,
Popular ,
Rate-Rigging ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Serious Fraud Office (SFO) ,
Spoofing ,
Subpoenas ,
Swiss Supreme Court ,
Switzerland ,
Tax Crimes ,
Tax Evasion ,
Tax Treaty ,
Turkey ,
UK ,
United States ,
Venezuela ,
Wal-Mart
On April 4, 2019, the European Commission published a report1 prepared by three special advisers (the Advisers) appointed by EU Competition Commissioner Margrethe Vestager to explore how EU competition policy should evolve in...more
4/9/2019
/ Abuse of Dominance ,
Acquisitions ,
Big Data ,
Competition ,
Data-Sharing ,
Digital Currency ,
Digital Goods ,
Digital Media ,
Digital Single Market ,
Enforcement Actions ,
EU ,
European Commission ,
European Merger Control Regulation ,
Information Reports ,
Innovation ,
Innovative Technology ,
Mergers ,
Technology Sector ,
UK Competition and Markets Authority (CMA)
Skadden’s Antitrust and Competition Group and the economics firm Charles River Associates recently co-hosted the ninth annual “Antitrust in the Technology Sector: Policy Perspectives and Insights From the Enforcers” seminar...more
3/5/2019
/ Acquisitions ,
Antitrust Investigations ,
Artificial Intelligence ,
AT&T ,
Bid Rigging ,
Cartels ,
Cloud Computing ,
Collusion ,
Competition ,
Consumer Protection Laws ,
Data Privacy ,
Department of Justice (DOJ) ,
Digital Marketplace ,
EU ,
Federal Trade Commission (FTC) ,
FRAND ,
Innovation ,
Merger Controls ,
Mergers ,
Monopolization ,
No-Poaching ,
Online Platforms ,
Qualcomm ,
Reputational Injury ,
Social Media ,
Technology Sector ,
Time Warner ,
Vertical Mergers
As the U.K.’s March 29, 2019, exit date from the European Union approaches, companies involved in merger reviews or antitrust investigations should pre-emptively address the risk of a “no-deal” Brexit....more
10/18/2018
/ Anti-Competitive ,
Antitrust Injuries ,
Antitrust Investigations ,
Condition Precedent ,
EU ,
European Commission ,
European Merger Control Regulation ,
Infringement ,
Jurisdiction ,
Merger Agreements ,
Merger Controls ,
Mergers ,
Private Right of Action ,
Statute of Limitations ,
UK ,
UK Brexit ,
UK Competition and Markets Authority (CMA)