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Preface

"Global M&A activity reached record levels in 2018, but did so against a backdrop of political turmoil and added regulatory hurdles, leaving the rate for failing deals at the highest that it has been since the 2008 financial crisis..."

Australia

Elizabeth Avery, Dilys Teng, Lara Schreibe, Matt Rubinstein

"The past year has been an interesting one for Australian merger control, and has seen merger activity levels comparable to the previous period..."

Brazil

Adriana Giannini, Isabella Giorgi, Ursula Bassoukou

"The Brazilian Administrative Council for Economic Defence (CADE), Brazil’s antitrust authority, has been quite busy on the merger front in 2018..."

Canada

"The Competition Bureau, which has a March 31 fiscal year-end, saw an increase in the number of mergers reviewed in fiscal 2017–18 compared to 2016–17, but was still below 2014–15 levels..."

European Union

"The number of transactions notified to the European Commission has continued to increase, rising to a record high level of 414 notifications in 2018 from 362 in 2017, surpassing the prior record high of 404 transactions in 2007..."

Indonesia

Farid Nasution, Vovo Iswanto, Yogi Sudrajat Marsono

"According to the merger control provisions of Law No. 5 of 1999 on Prohibition of Monopolistic and Unfair Business Practices (the Indonesian Competition Law: ICL), Indonesia adopts mandatory post-merger notification and voluntary pre-merger notification regimes..."

Italy

Gian Luca Zampa, Alessandro Di Gio, Ermelinda Spinelli, Giorgio Candeloro
Freshfields Bruckhaus Deringer (Milan), Freshfields Bruckhaus Deringer

"In terms of merger control review, 2018 was another year with relatively little merger control enforcement, at least as compared to the Italian Antitrust Authority’s (IAA’s) activities in this area in the 2000s and early 2010s..."

Korea

Jeannie Jeong, Sangdon Lee, Yong Woo Lee

"According to a press release issued by the KFTC, 702 mergers were approved in 2018, which is the highest number of cases reviewed in the past 10 years (breaking the 2015 record of 669 cases)..."

Russia

"According to the statistics published by the Federal Antimonopoly Service of Russia (FAS), following the adoption of a set of amendments to the Russian Law on Protection of Competition dated 26 July 2006 (LPC) in 2016, the trend for reduction in the number of merger control filings continues..."

Sweden

Antonia Malmgren, Erik Ofverholm, Olof Johannesson, Philip Thorell

"2018 was the first year of the Swedish Competition Authority (SCA) having enhanced decision-making powers in merger cases; in other words, the SCA is now competent to issue decisions to block mergers..."

Switzerland

"Although we’ve seen a large number of concentrations with connections to Switzerland in the past years, many of them were either not subject to merger control as the undertakings’ concerned turnover fell short of the threshold values or they did not raise any competition concerns and were thus cleared in Phase 1..."

Ukraine

Julia Kuyda, Maksym Nazarenko, Valentyna Hvozd, Vladimir Sayenko

"In line with previous years, the Antimonopoly Committee of Ukraine (AMC) continued reforming and improving Ukrainian competition laws, including merger control rules, in accordance with the best practices around the world..."

United Kingdom

"Despite fears of reduced market activity in the run-up to the UK’s proposed exit from the European Union, the Competition and Markets Authority (CMA) has had another busy year in the merger review space, undertaking nine Phase II inquiries and 53 Phase I merger inquiries, according to statistics published on 6 March 2019..."

United States

"Although we are now more than two years into the Trump administration, 2018 was the first year that the full complement of senior leadership at both federal antitrust agencies was seated..."