Schneider/Legrand & Tetra Laval/Sidel
London, England
5 December 2002
Hosted By: Allen & Overy
In both the recent Schneider/Legrand and Tetra Laval/Sidel cases, the European Court of First Instance overruled the European Commission's decisions to block merger transactions. In its judgement in the Schneider/Legrand case the Court stated: "The Commission's economic analysis is vitiated by errors and omissions which deprive it of probative value, save in relation to French sectoral markets. Concerning those markets alone, it considers the procedure followed by the Commission when examining the proposal and finds a procedural irregularity which constitutes an infringement of defense rights, having regard to the discrepancy between the statement of objections and the Commission's decision."
These remarkable judgments raise important questions about the European Commission's current review of merger control, and will undoubtedly put further pressure on the European Commission to reform merger regulation. NERA, in conjunction with Allen & Overy, hosted a series of complimentary seminars across Europe to examine the impact on the future of European merger control. NERA and Allen & Overy acted for Schneider in its successful appeal. The seminar looked at the main guidelines from Schneider/Legrand and other CFI decisions from both a legal and an economic perspective. NERA Director Mark Williams and Professor Leonard Waverman from the London Business School were featured speakers at the seminars.
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