A Revised Merger Control Regime for Germany–Buyer Beware

By: Dr. Tobias Caspary, Max Küttner

The 9th Reform of the German Act on Restraints of Competition came into force on 8 June 2017 and with it the introduction of the new, additional, threshold to German merger control: the “value of consideration” threshold.

The new threshold will increase the number of filings to the German Federal Competition Authority and complicate the filing burden in Germany. It will be of particular relevance to investments in startups, pharmaceuticals and IT companies who offer services for free or on a near-free basis.

This note discusses the likely impact of the Reform on German merger control filings and the points a buyer must now consider when deciding whether to notify in Germany.

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