International Antitrust Law & Policy: Fordham Corporate Law 2001 - Hardcover
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Chapter 7
MULTI-JURISDICTIONAL MERGER REVIEW
Dr. Ulf Bo¨ge†
I. INTRODUCTION
With the advancing liberalization of the economy, more and more
countries are recognizing the importance of competition for economic growth
and prosperity. More and more trade barriers are being removed and statecontrolled
sectors of industry privatized and liberalized. The rapid development
in information technology has also led to the emergence of global
networks, greatly extending the possibilities to purchase globally. In response,
an increasing number of firms are joining forces to reposition
themselves within a globalized economy. Increasing market concentration
has also had adverse effects. As a consequence, more and more countries see
the need to protect competition as the driving force of the economy. For this
reason new competition laws are being introduced containing regulations on
merger control. Today concentrations are subject to control in more countries
than ever before. Whereas in 1990 merger control was in force in only
approximately 20 countries around the world, this number has since risen to
67. In the EC all Member States, with the exception of Luxembourg, have
national merger control regimes. It is likely that the number of merger
control regimes will continue to rise further in the coming years.
The number and size of concentrations are increasing and a growing
number of concentrations are liable to merger control not only in one but in
several states (so-called multiple filings). Firms state that multiple filings are
a burden, and that they are expensive and time-consuming. Some enterprises
have even gone so far as to describe them as horror scenarios.1
The following examines the difficulties firms are facing with multiple
filings and how these obstacles can be reduced or eliminated within the
European Union and on an international scale.
President of the Bundeskartellamt, Bonn.