EU Merger Control: European Commission Simplifies Merger Control ProceduresSullivan & Cromwell LLP - 11 December 2013
On 5 December 2013, the European Commission adopted a package of measures to simplify certain procedural aspects of EU merger control. The package will allow more transactions to be reviewed under the European Commission’s simplified review procedure, which requires merging parties to provide less information to the European Commission, and can lead to quicker clearance than under the standard review procedure. The package also streamlines the pre-notification phase of the EU merger control process.
The new rules do, however, broaden the requirement for merging parties to disclose to the European Commission their internal documents describing the rationale for, and competitive effects of, planned mergers.
The new rules will enter into force on 1 January 2014.