Elgar original reference
Edited by Ioannis Lianos and Damien Geradin
Chapter 12: Merger control: substantive issues
The purpose of the European Union Merger Regulation (‘ECMR’) lies in sustaining an effective and well-functioning Internal Market by effectively ensuring that reorganizations in the market will not induce an adverse impact on competition. Mergers may eliminate any competition that exists between the merging parties and may lead to a reduction in the number of firms competing in the market. Where this reduction has a substantial adverse effect on overall market competition, the market will be less oriented to consumer and efficiency goals, even in the absence of breaches of competition legislation. This chapter will tackle two important issues in merger enforcement. The gap in the dominance test has been an issue of intense debate for a number of years ending with the new Regulation 139/2004. The adoption of the SIEC test was necessary in order to improve the effectiveness of merger legislation and the accuracy of the legal standard for merger assessment.
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