Cyriel Ruers was interviewed by Het Financieele Dagblad about the European Court of Justice's landmark ruling on the European Commission's power to review takeovers that do not require prior notification. The Court ruled that the Commission had wrongly assumed the power to investigate and ultimately block the Illumina/Grail transaction. The judgement puts an end to the Commission's questionable practice of assuming the power to investigate acquisitions that fell below the notification thresholds as well.
In the article, Cyriel responds positively to the judgement as it ends uncertainty for parties to M&A transactions. For now, they no longer have to fear that a transaction which does not require prior notification will still be subsequently reviewed by the Commission and, in the worst case, prohibited.
‘Competition lawyer Cyriel Ruers of Maverick Advocaten is happy with the ruling. 'Some companies were reluctant to make acquisitions because they did not know whether they would be banned afterwards. That clarity is provided now,' says Ruers, “If the Commission really wants to tackle these kinds of takeovers, it has to make sure that the thresholds for supervision are lowered, or national legislation has to be changed.”’
You can read the full article back here.
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