European Union (“EU”) competition law has a major impact on businesses operating in the EU and, for that reason, is one of our core practice areas. At Sullivan & Cromwell, our EU competition law team includes acknowledged leaders in this field and focuses on issues and proceedings arising out of Articles 101 and 102 of the Treaty on the Functioning of the European Union (the EU analogs to Sections 1 and 2 of the Sherman Act); the block exemptions from Article 101 for arrangements such as vertical agreements, technology transfer, R&D and specialization agreements; the EU Merger Regulation, which requires pre-notification of large mergers having a European dimension; and advice on state aid issues and on other aspects of EU law. Our EU competition work often links directly to S&C’s mergers and acquisitions practice and other practice areas, such as project finance.

We advise U.S., European, Asian, Australian, Latin American and other clients on the competition law implications of mergers, acquisitions, joint ventures, long term supply agreements and other business arrangements. We prepare pre-merger notifications under the EU Merger Regulation. We advise on other aspects of the EU merger review process, such as the negotiation of remedies in cases that raise substantive concerns. We prepare or coordinate the preparation of merger notifications to be submitted to national competition authorities in Europe and elsewhere. We advise companies wishing to intervene in the review of mergers and other types of transactions involving their competitors, customers or suppliers.

The Firm represents the targets of competition law investigations by the European Commission and national authorities. This includes advice on securing leniency in such investigations. We also assist clients in formulating and implementing compliance training and provide advice on responding to “dawn raid” investigations by the EU Commission and other national competition authorities.

Merger Clearances

Our lawyers have secured approval from the EU Commission and, when relevant, national authorities for numerous major mergers and joint ventures.

Other Representations

S&C regularly represents clients before the European Commission and other national antitrust authorities relating to diverse EU competition disputes and investigations.