|
|
Merger regulation of killer acquisitions under European competition law in European and international comparison
Jakob, Sebastian ; Šmejkal, Václav (advisor) ; Svobodová, Magdaléna (referee)
1 English abstract Merger regulation of killer acquisitions under European competition law in European and international comparison Collen Cunningham, along with her colleagues, introduced a novel theory of harm known as a "killer acquisition" in her paper titled "Killer Acquisitions." A killer acquisition involves an already well-established market player acquiring a potential competitor with the intent to discontinue the acquired innovation project. The primary objective of such an acquisition is to eliminate potential competition that might arise from the innovative project of the acquired competitor. Typically, the potential targets of such scenarios are innovative start-ups that do not generate sufficient turnover to trigger the notification threshold employed in the EU, which relies solely on the turnover of merging parties. As a result, the European Commission sought other ways to assert jurisdiction over such transactions, most notably through the utilization of Article 22 of the Merger Regulation. However, it is argued that the current system of merger control at the European level is not bulletproof and a potential enforcement gap necessitating an amendment of the Merger Regulation exists. Consequently, several alternative criteria have been analysed, namely, the market-share test used in Spain...
|
|
|
An impact of the recent economic crisis upon the control of mergers of competitors in the EU
Bartoš, Petr ; Šmejkal, Václav (advisor) ; Svoboda, Pavel (referee)
An impact of the recent economic crisis upon the control of mergers of competitors in the EU The purpose of this thesis is to analyse an impact of the recent economic crisis upon the control of mergers of competitors in the EU. It is established as an initial hypotheses that the economic crisis had considerable impact upon the EC merger control. The thesis is composed of six chapters, each of them dealing with different aspects of the above mentioned topic. Chapter One is introductory and defines basic terminology used in the thesis. The chapter is subdivided into two parts. Part One describes pre-crisis legal framework of EC merger control. Part Two deals with dominant pre-crisis theoretical approaches towards EC merger control. Chapter Two examines origin and development of the recent economic crisis, various regulatory responses to it, as well as the joint action of EU Member States towards dealing with consequences of the economic crisis. The chapter consists of seven parts, last one of them attempts to compare current situation in the EU with historical example of US antitrust enforcement during national crises. Chapter Three is focused on the impact of the recent economic crisis on EC merger control. It is subdivided into nine parts and provides an outline of the consistency on the principles...
|
|
|
A comparison of the control over horizontal mergers in the EU and the USA with a special focus on advantages of a merger and the protection of an insolvent company
Svoboda, Karel ; Svoboda, Pavel (advisor) ; Zemánek, Jiří (referee)
A comparison of merger control in the EU and the USA focusing on efficiency defence and failing company defence This paper compares the interpretation of efficiency defence and failing company defence in horizontal mergers in the EU and the USA. The arguments for each were first introduced in the decisional practice of US antitrust authorities and then included in the Merger Guidelines. Over the years both types of defence have been used in US antitrust law. Harsh criticism of the prohibition of several mergers at the beginning of the 21st century led to the reform of European merger control. Among other things, the reforms introduced efficiency defence and failing company defence. Given the complexity of competition law and the many factors that influence it, several background issues must first be analyzed, such as basic economic theories of competition law, the economic grounds for mergers and the political background. After comparing the relevant written law, the case law regarding efficiency defence and failing company defence in both jurisdictions is described. In this way the developments of the doctrines are clearly visible. Subsequently the current situation is described by comparing the requirements set by written law and their interpretation by decisional practice. It was found that the...
|
|
|
The Single Economic Entity Doctrine in EU Competition Law
Lepara, Samir ; Šmejkal, Václav (advisor) ; Svobodová, Magdaléna (referee)
The Single Economic Entity Doctrine in EU Competition Law Focused on applying single economic entity doctrine in relation to merger control of State Owned Enterprises Abstract This thesis focuses on the issues surrounding single economic entity doctrine in relation to State Owned Enterprises (SOEs), in particular on the effects of Article 22 of the Preamble of Council Regulation (EC) No 139/2004 of 20 January 2004 on the control of concentrations between undertakings (EUMR), and the Commission Consolidated Jurisdictional Notice under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings. Together these documents set the standards for merger control practice concerning SOEs. They are centred around the principle of applying the single economic entity doctrine when identifying the turnover of SOEs and when determining the jurisdiction of the Commission. The thesis possesses two major goals. The primary goal of the thesis is to elucidate the criteria used for the determination of a single economic unit (single economic entity) with independent decision-making power in the public sector. To this end, in chapter 3, the author has synthetized a list of the relevant criteria used for the determination of an economic entity, based on the criteria used by the Commission that have...
|
|
|
Big data and EU merger control
Bosáková, Viktória ; Šmejkal, Václav (advisor) ; Svobodová, Magdaléna (referee)
BIG DATA AND EU MERGER CONTROL ABSTRACT The significance of "big data" as a factor in the competitive assessment of mergers in EU has attracted more and more attention in the past years. Today's digital economy revolves around the Internet and information technologies that together enabled collecting and processing previously unimaginable sets of data, high in volume, velocity, variety and value. Data started to present a valuable and important asset to various businesses, mainly active on online platforms. Consequently, companies may engage in strategic mergers in order to acquire profitable data from one another. The aim of this master thesis is to research and analyse whether big data could result in the increased market power of the newly merged company or could have detrimental effects on other competitors present on the market or the competition itself. The main research question therefore is whether big data in its essence could constitute a competitive concern when it comes to data-related mergers. This thesis initially clarifies the concept and characteristics of "big data" in general, whilst demonstrating the increasing significance of data used as assets for businesses in the present digital economy. The research then focuses on what role specific features of data could play in various stages of...
|
|
|
An impact of the recent economic crisis upon the control of mergers of competitors in the EU
Bartoš, Petr ; Šmejkal, Václav (advisor) ; Svoboda, Pavel (referee)
An impact of the recent economic crisis upon the control of mergers of competitors in the EU The purpose of this thesis is to analyse an impact of the recent economic crisis upon the control of mergers of competitors in the EU. It is established as an initial hypotheses that the economic crisis had considerable impact upon the EC merger control. The thesis is composed of six chapters, each of them dealing with different aspects of the above mentioned topic. Chapter One is introductory and defines basic terminology used in the thesis. The chapter is subdivided into two parts. Part One describes pre-crisis legal framework of EC merger control. Part Two deals with dominant pre-crisis theoretical approaches towards EC merger control. Chapter Two examines origin and development of the recent economic crisis, various regulatory responses to it, as well as the joint action of EU Member States towards dealing with consequences of the economic crisis. The chapter consists of seven parts, last one of them attempts to compare current situation in the EU with historical example of US antitrust enforcement during national crises. Chapter Three is focused on the impact of the recent economic crisis on EC merger control. It is subdivided into nine parts and provides an outline of the consistency on the principles...
|
|
|
A comparison of the control over horizontal mergers in the EU and the USA with a special focus on advantages of a merger and the protection of an insolvent company
Svoboda, Karel ; Svoboda, Pavel (advisor) ; Zemánek, Jiří (referee)
A comparison of merger control in the EU and the USA focusing on efficiency defence and failing company defence This paper compares the interpretation of efficiency defence and failing company defence in horizontal mergers in the EU and the USA. The arguments for each were first introduced in the decisional practice of US antitrust authorities and then included in the Merger Guidelines. Over the years both types of defence have been used in US antitrust law. Harsh criticism of the prohibition of several mergers at the beginning of the 21st century led to the reform of European merger control. Among other things, the reforms introduced efficiency defence and failing company defence. Given the complexity of competition law and the many factors that influence it, several background issues must first be analyzed, such as basic economic theories of competition law, the economic grounds for mergers and the political background. After comparing the relevant written law, the case law regarding efficiency defence and failing company defence in both jurisdictions is described. In this way the developments of the doctrines are clearly visible. Subsequently the current situation is described by comparing the requirements set by written law and their interpretation by decisional practice. It was found that the...
|
|
|
Merger Control in the European Union
Moldovanu, Victoria ; Serdarevič, Goran (advisor) ; Vacek, Pavel (referee)
The main goal in this paper is to make an in-depth analysis of the regulatory situations that can arise during mergers when political involvement takes place. The research is based on four controversial merger cases of undertakings within the same country (E.On-Ruhrgas), European Union countries (E.On-Endesa, Unicredit-Hypoverein) and between companies from the USA (Boeing-McDonnell Douglas) that have effect on the European market. We analyze the four mergers using Michele Ruta and Massimo Motta models from the paper "A Political Economy of Merger Policy in International Markets" (2008). By the end of the research we reached the conclusion that due to some lapses in the European Commission Merger regulation at the time of the mergers, as well as due to government involvement in the mergers, they are not always cleared in the benefit of the market competition or consumer welfare, but due to nationalistic interests of governments to have big players on the market or to keep governmental power in certain industries, even with the risk of harming competition. Along with this, from the mergers analyzed here, it becomes clear that local or union authorities scrutinize the foreign acquirers more.
|
|
|
Comparation of the EU and US approach towards mergers and acquisitions
Bartošová, Monika ; Kříž, Radim (advisor) ; Hásová, Jiřina (referee)
This study aims to compare the EU and US approach towards mergers and acquisitions, both from a theoretical point of view (the historical development and regulation) and the practical one(comparing certain cases), identify their similarities and differences, explain it and evaluate. To achieve the goal, the method of comparison was used (especially control procedures and assessing relevant markets). It was also assisted by case studies (specific decisions of the competition authorities), thus that the merger of GE / Honeywell and acquisitions, Oracle / Sun Microsystems. The work is divided into four chapters. The first chapter approaches the topic in terms of their development and legislation. The next two chapters introduce the merger control in both systems. The last chapter deals with cooperation between the competition authorities of the EU and the US. Chapter also compares the specific cases in which both teams have decided differently.
|
|
|
Legal Impacts of Mergers of Joint-stock Companies
Večeřová, Stanislava ; Kříž, Radim (advisor) ; Kotoučová, Jiřina (referee)
The aim of this diploma thesis is to analyze various legal aspects related to mergers of public limited liability companies. The thesis begins with a summary of relevant legislation from Czech and European jurisdiction regulating domestic and cross-border mergers. It continues with the procedure of merger and the overview of necessary documentation and requirements. Broad part of the work is related to the impact on diverse areas, such as the impact on shareholders, employees or bookkeeping. The system of merger control is defined within the scope of the chapter dealing with effects on competition law. The legal aspects are illustrated on a practical case in the end of the thesis.
|
guest ::
