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In ESG

Germany: Transform Powerfully – energy transition dialogue

by , , , , , , , , , , , , , , , and 6 Mins Read

The transition to a carbon-neutral economy is a seismic shift on a global scale, leaving no sector untouched. The urgent strategic, operational and reputational challenges are considerable, but so are the opportunities for growth. We are happy to invite you to
Transform Powerfully: Baker McKenzie Energy Transition Dialogue
Navigating your energy transition journey: Opportunities and challenges for suppliers, industrials and other market players
Thursday, 25 January 2024, 12:00 pm to 7:00 pm CET
Baker McKenzie, Neuer Zollhof 2, 40221 Dusseldorf, Germany

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In Antitrust / Competition

EU: Merger Control, Foreign Direct Investment and Foreign Subsidies Regulation

by , , , , , and 2 Mins Read

Agreeing conditions precedent and deal timelines has always been a challenge for companies. From an EU perspective, companies previously only had to consider whether a deal led to an EU or Member State merger control filing obligation. However, there are now three new layers of complexity for companies to consider in the EU:

  1. Article 22 and ex-post assessments: a new approach to the EU’s merger control referral mechanism together with the ex-post review of transactions has added complexity to consider when entering into a new deal.
  2. Foreign Direct Investment (FDI): 23 EU Member States now have a an FDI regime which if the filing thresholds are met gives rise to a notification requirement and clearance prior to closing. Sweden is the most recent EU Member State to adopt an FDI regime, which came into force on 1 December 2023.
  3. Foreign Subsidies Regulation: as of 12 July 2023, transactions in the EU may also be subject to a further pre-closing review of broadly defined financial contributions from non-EU Member States.
In Antitrust / Competition

United States: DOJ and FTC issue final merger guidelines

by , , , , , , , , , , and 11 Mins Read

On 18 December 2023, the Antitrust Division of the US Department of Justice (DOJ) and the Federal Trade Commission (FTC) jointly issued their highly anticipated final version of the 2023 Merger Guidelines . The issuance of the Guidelines follows the agencies’ release of draft guidelines in July and the conclusion of a public notice-and-comment period. The Guidelines set out how the agencies assess whether mergers and acquisitions threaten anticompetitive harm in violation of US antitrust laws.

Most notably, the newly issued Guidelines retained the lower thresholds for establishing presumptions of anticompetitive harm — including if the merger gives the combined firm more than 30% market share. Additionally, the Guidelines outline a holistic approach for analyzing vertical mergers.

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In Antitrust / Competition

United States: Fourth Circuit reverses conviction in alleged manufacturer-dealer bid-rigging conspiracy

by , , and 7 Mins Read

On 1 December 2023, the US Court of Appeals for the Fourth Circuit reversed a Sherman Act conviction of a former executive of an aluminum products manufacturer for failure to state a per se antitrust offense. While DOJ is considering en banc review of this opinion, if upheld the decision could have lasting implications for how the DOJ proceeds with indictments involving parties that engage in dual distribution. We will continue to monitor for future developments in this case as it moves forward.

In Antitrust / Competition

United Arab Emirates: New Competition Law will enter into force on 28 December 2023

by , and 5 Mins Read

On 28 September 2023, the United Arab Emirates (UAE) issued Federal Law No. 36 of 2023 (“New Competition Law”), which repealed and replaced Federal Law No. 4 of 2012. The New Competition Law signals a new era of enforcement by the UAE Ministry of Economy by providing a functional competition regime through, inter alia: extending a wider scope of application to almost all economic activities; expanding its mandate by prohibiting new conducts and introducing a new dominance test; and finally introducing administrative penalties and stricter financial penalties. The New Competition Law will officially enter into force on 28 December 2023, with the executive regulation to be published within six months thereafter.

In Antitrust / Competition

Luxembourg: Upcoming merger control regime

by , and 8 Mins Read

Luxembourg is preparing to implement in its national law an ex ante merger control regime which includes a mandatory notification requirement with turnover thresholds and a standstill obligation.
The purpose of Draft Bill No. 8296 (“Bill”), recently submitted to the Luxembourg parliament, is to give the Luxembourg Competition Authority the power to assess in advance whether a corporate concentration significantly hampers competition in Luxembourg.
The Bill currently provides that the law will only enter into force four months after its publication in the Luxembourg official journal. This should give businesses time to adapt to the new obligations.

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In Antitrust / Competition

Japan: Guidelines released on price negotiation for appropriate shifting of labor costs

by , and 3 Mins Read

On 29 November 2023, the Cabinet Secretariat of Japan and the Japan Fair Trade Commission jointly issued the Guidelines Concerning Price Negotiation for Appropriate Shifting of Labor Costs (“the Guidelines”). Rapid price inflation has made it particularly important to create a business environment in which small and medium-sized companies can secure resources for wage increases. The Japanese government has been working on price-shifting measures and established the Guidelines as one of its efforts to improve the business environment.

In Antitrust / Competition

Switzerland: New Swiss Motor Vehicle Ordinance

by , and 7 Mins Read

On 29 November 2023, the Swiss government enacted a new Ordinance on the Competition Law Treatment of Vertical Agreements in the Motor Vehicle Sector (referred to as the Motor Vehicle Ordinance). In December 2023, the Swiss Competition Commission (COMCO) released Explanatory Notes to accompany the new Ordinance. The new Ordinance and Explanatory Notes are scheduled to come into force on 1 January 2024, and are set to replace COMCO’s current Motor Vehicle Notice and Explanatory Notes.

In Antitrust / Competition

Canada: Competition law and foreign investment 2023 year in review

by , and 9 Mins Read

In 2023, the Government of Canada focused on modernizing Canada’s Competition Act and Investment Canada Act, proposing legislation that will overhaul existing legislative frameworks. Looking forward, we expect the Government will continue its modernization agenda and the respective authorities will continue to take strong enforcement positions against perceived anti-competitive conduct and investments that raise potential national security concerns in 2024.

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