EC merger control regulation approved after long delay.EC MERGER CONTROL REGULATION APPROVED AFTER LONG DELAY After 16 years of debate, a European Community regulation European Community regulation refers to the body of European Union law involved in the regulation state support to commercial industries, and of certain industry sectors and public services. Examples can include railways, electricity or gas. on the control of concentrations between companies has been approved by the EC Commission, effective September 21, 1990. A concentration can be either a merger between two or more companies or an aquisition, with one company assuming control of another. Joint ventures are not considered concentrations if the controlling companies remain independent of each other. EC companies are obliged o·blige v. o·bliged, o·blig·ing, o·blig·es v.tr. 1. To constrain by physical, legal, social, or moral means. 2. to notify the EC Commission before a concentration takes place, after which the closing will be postponed automatically for at least three weeks. The commission has one month to initiate proceedings to halt the concentration and four months to hand down a final decision. Throughout the process, the parties are free to propose changes in terms to make the concentration more palatable pal·at·a·ble adj. 1. Acceptable to the taste; sufficiently agreeable in flavor to be eaten. 2. Acceptable or agreeable to the mind or sensibilities: a palatable solution to the problem. to the Commission. The principal criterion for deciding if a concentration should be allowed to proceed is whether it will impede im·pede tr.v. im·ped·ed, im·ped·ing, im·pedes To retard or obstruct the progress of. See Synonyms at hinder1. [Latin imped competition in the EC. If it will not, it will be authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: . [Graph Omitted] |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion