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What form should merger control notification take in India and what content is required?
The Combination Regulations prescribe three forms for filing a merger notification. Notifications are usually filed in Form I (ie, short form). However, the parties can file a merger notification in Form II (ie, long form). The Combination Regulations recommend that Form II notifications be filed for transactions where the parties to the combination are:
- competitors with a combined market share in the same market of more than 15%; or
- active in vertically linked markets, where the combined or individual market share in any of these markets is greater than 25%.
Form II requires extremely detailed information – far more than that required by the (long form) Form CO under the EU Merger Regulation or a second request pursuant to the US Hart Scott Rodino Act. This information includes detailed descriptions of products, services and the market as a whole, including:
- the relative strengths and weaknesses of competitors;
- estimates of a minimum viable scale required to attain cost savings;
- the costs of entry; and
- the impact of research and development.