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Linklaters

Merger Control

Merger control is critical to the success of any M&A transaction

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Merger Control

Linklaters’ Antitrust & Foreign Invetment team is one of the world’s leading global practices. With our help, clients gain competitive advantage by successfully navigating the rapidly evolving competition and antitrust laws around the world to help them build and defend successful businesses.

Our team is highly experienced in multi-jurisdictional merger filings and we have extensive practical know-how of merger control regimes and authorities around the globe. We work together with our clients to devise their merger control strategy combining commercial, legal and sometimes public interest considerations to deliver a successful outcome on a global level.

What we do

  • Deliver clear, commercial advice on antitrust risk at the outset of a deal and offer innovative structuring solutions.
  • Work with key advisers to ensure that antitrust aspects of the transaction are integrated into the deal and public affairs strategy.
  • Co-ordinate and make notifications to the regulatory authorities around the globe, ensuring a consistent and coherent approach.
  • Gather evidence, effectively mesh economic and legal arguments and deploy advocacy skills to achieve clearance.
  • Propose, negotiate and help implement solutions, where required.
  • Advise on integration planning.

Client Successes

Takeda

Takeda: advising on the £46bn acquisition of Shire. We coordinated merger control filings in more than 15 jurisdictions, including the EU, the US and China

Bayer AG

Bayer AG: advising Bayer AG as lead global antitrust counsel on the sale of its worldwide animal health business to Elanco Animal Health to create the world’s second largest animal health company. The transaction gives rise to merger filings in 14 jurisdictions, including the EU, US, China, Brazil, South Africa, and Australia

Nestlé

Nestlé: advising on the CHF10.2bn sale of its skin health business to a consortium led by EQT and Adia involving merger control notifications in 15 jurisdictions

Jingye Group

Jingye Group: advising leading Chinese steelmaker, Jingye Group, on the merger control, foreign investment and state aid implications of its agreement to acquire the business and certain assets of British Steel. Merger control filings were required and clearances successfully obtained in Turkey and Poland

Energizer Holdings, Inc

Energizer Holdings, Inc: advised worldwide battery manufacturer Energizer Holdings Inc. and represented them before the European Commission with respect to their USD 2bn acquisition of Spectrum Brands Holdings’ Global Battery and Portable Lighting Business, and, in particular (i) the procedure before the European Commission further to a request for referral from Austria, Germany, Poland, Romania and Spain; including the negotiations of the remedies and (ii) the subsequent sale of the Divestment Business to Varta AG

GrandVision

GrandVision: representing GrandVision in its USD 8bn acquisition by EssilorLuxottica. The case has triggered Phase II reviews in the US, Europe and multiple countries in South America and Asia

QIAGEN N.V

QIAGEN N.V: advising on the planned takeover by US technology group Thermo Fisher Scientific. The transaction requires regulatory filings in several jurisdictions, including (among others) the EU, the US and China

Linde

Linde: Advising as lead strategic counsel on the global antitrust aspects of its $90 billion merger of equals with Praxair Inc. to create the world's largest industrial gas company. The cross-border team handled filings in 24 jurisdictions, including the US, EU and China

E.ON

E.ON: advising on all competition aspects of E.ON’s and RWE Aktiengesellschaft’s far-reaching asset swap including E.ON acquiring a 76.8% stake in Innogy SE. The transaction included filings with the European Commission and national European authorities as well as the U.S. authorities

Vodafone

Vodafone: advising Vodafone on the competition law aspects of the proposed agreements with Telecom Italia in Italy

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Key Contacts

Related Client Services

Antitrust & Foreign Investment
Foreign Investment Control
Cartels
Dawn Raids
Competition and Antitrust Litigation
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Abuse of Dominance
State Aid
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At Linklaters, we have world-leading experience thanks to our dedicated and truly integrated global network. We are continually monitoring developments in this rapidly evolving area in order to remain ahead of the curve. We offer clients a one stop shop for handling merger control and foreign investment review filings: a single, central point of contact, as well as a consistently high level of quality.

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In the event of a dawn raid, companies need immediate legal assistance. Linklaters has extensive experience of assisting clients with dawn raids, ensuring a unified and efficient response to authorities across multiple jurisdictions and protecting our clients’ rights in any subsequent cartel or other antitrust investigation.

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