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Potential outcomes

What are the potential outcomes of the merger investigation? Please include reference to potential remedies, conditions and undertakings.

The potential outcomes of a merger investigation are:

  • a decision that the transaction falls outside the scope of the French merger control regime;
  • a referral of the case to the European Commission;
  • a formal clearance decision at the end of Phase I;
  • a formal clearance decision with commitments at the end of Phase I;
  • a tacit clearance decision at the end of Phase I;
  • a formal clearance decision at the end of Phase II;
  • a formal clearance decision with commitments at the end of Phase II;
  • a tacit clearance decision at the end of Phase II;
  • a prohibition decision issued by the FCA at the end of Phase II;
  • a prohibition decision issued by the minister of economy at the end of Phase II; or
  • a withdrawal of the notification by the parties before any decision is issued.

Parties can propose commitments at any time during the procedure. Most remedies proposed are of a structural nature, but they can also be of a behavioural nature. 

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