Ireland obliges businesses to notify Ireland’s Competition and Consumer Protection Commission (“CCPC”) of those mergers and acquisitions involving parties with turnovers above certain thresholds.
The aggregate turnover in the previous year of the businesses involved in a proposed merger or acquisition increases from €50m to €60m.
The turnover in the previous year of two or more undertakings involved in the proposed merger or take-over increases from €3m to €10m.
This move by the Minister for Business, Enterprise and Innovation is very welcome. It relieves businesses of making unnecessary notifications. However, the CCPC remain free to scrutinize all deals even if the turnovers do not reach the new higher thresholds. Businesses will still need to double check whether all deals raise competition issues irrespective of size but they do not need to notify deals unless they reach these new thresholds.