Gun Jumping in Selected SEE Countries – an Obvious Risk in M&A Transactions

• Authors: Marija Zrno Prošić , Raško Radovanović , Robert Kordić

Abstracts

FR

« Gun jumping » est un terme qui décrit la réalisation prématurée d’une fusion avant d’obtenir l’autorisation des autorités de la concurrence compétentes. Au cours des dernières années, la Commission européenne et les autorités nationales de la concurrence ont montré un intérêt accru pour les affaires de « gun jumping ». Reconnaissant cet intérêt et le nécessité d’une guidance pratique, l’article donne d’abord un aperçu de l’évolution du « gun-jumping » à travers la jurisprudence. Il souligne ensuite les différents seuils de notification des fusions dans la région, et les implications qu’ils pourraient avoir pour les questions de « gun jumping », pour montrer que malgré les points de convergence dans la région, les seuils de notification des fusions diffèrent sensiblement d’un pays à l’autre, d’une manière qui exige une organisation prudente et parfois difficile des activités de fusion et d’acquisition à portée régionale. Sur la base d’une vue d’ensemble des cas particuliers de « gun jumping » dans la région et en tenant compte des précédents de l’UE, l’article fournit des recommandations sur la manière d’éviter les risques de « gun jumping ».

EN

Gun jumping is a term which describes the premature realization of a merger before obtaining a merger clearance from the relevant competition authorities. In the last years, the European Commission and national competition authorities have demonstrated an increased interest in investigating and punishing gun jumping cases. Recognizing this interest and the need for practical guidance, the article first gives an overview of gun-jumping evolution through case law. It then points to different merger filing thresholds in the region, and implications they could have for gun-jumping issues, to show that despite the commercial and historical common ground in the region, merger filing thresholds do differ significantly between the countries, in a way which requires a cautious and sometimes challenging structuring of M&A activities with regional reach. Based upon an overview of individual gunjumping cases in the region, but taking into account the EU precedents, the article provides recommendations how to avoid gun-jumping risks.

Keywords

EN

competition law; antitrust; gun-jumping; mergers & acquisitions; administration; Central and Eastern Europe; Croatia; Serbia; Slovenia

• Publisher: Uniwersytet Warszawski. Wydział Nauk Ekonomicznych
• Journal: Yearbook of Antitrust and Regulatory Studies
• Year: 2020
• Volume: 13
• Issue: 22
• Pages: 211-232

Dates

published

2020

Contributors

author

Marija Zrno Prošić

• https://orcid.org/0000000172231260

author

Raško Radovanović

• https://orcid.org/0000000181880297

author

Robert Kordić

• https://orcid.org/0000000277812811

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Identifiers

DOI

10.7172/1689-9024.YARS.2020.13.22.9

Biblioteka Nauki

2159070