On Friday 13th September 2013, the Irish Competition Authority initiated a consultation on a draft of its proposed Merger Guidelines.
Business executives would be well advised to review the proposed guidelines because this document will set the Competition Authority's yardstick for merger review for some time - the current guidelines have lasted 11 years so far.
The 45-page draft document explains the elements of merger review, the Authority's views on market definition, market concentration, horizontal mergers, barriers to entry and expansion, efficiencies, countervailing buyer power, non-horizontal mergers, failing firms and exiting assets.
A&L Goodbody's Dr Vincent Power commented: "This is very welcome. The Irish Authority is consulting based on its own experience and the changes made in many jurisdictions. The new document follows some international trends in areas such as market definition and efficiencies. Anyone interested in how mergers are going to be reviewed in Ireland should read it and respond to the consultation."
The invitation and document are available at www.tca.ie and submissions must be made by Friday 25 October 2013.