International Merger Policy

International Merger Policy

Applying Domestic Law to International Markets

Julie Clarke

International Merger Policy offers a compelling comparative assessment of domestic and regional merger laws and procedures. Identifying important areas of convergence and emerging best practice, it considers existing levels of international cooperation and identifies the key costs associated with transnational merger review before evaluating possible mechanisms by which they might be reduced.

Chapter 7: The role of comity and cooperation

Julie Clarke

Subjects: economics and finance, money and banking, law - academic, competition and antitrust law

Extract

Concerns associated with the assertion of extraterritorial jurisdiction of competition law have been tempered to a degree by increasing recourse to considerations of comity and by a series of formal bilateral cooperation agreements and institutional recommendations and best practices relating to merger activity. This Chapter first discusses the extent to which comity, whether as an inherent courtesy influencing national courts and regulators, or as a more formal obligation stemming from bilateral and multilateral agreements, has influenced national merger enforcement actions and the role of cooperation in increasing merger review efficiency and limiting jurisdictional conflict. It then considers the nature and scope of existing bilateral and multilateral competition law agreements and their role in promoting cooperation and convergence in relation to the review of transnational mergers, including the work of the OECD and ICN in relation to cooperation and convergence of merger law and procedure. Comity does not form a part of public or private international law, but refers generally to nonbinding state practices which reflect a 'courtesy' and respect between nations of the laws and interests of other nations. These range from practices such as saluting flags of foreign warships at sea, to more substantial considerations of foreign legal and political interests when determining whether to pursue domestically a legal claim which affects the interests of other nations.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information