At a crossroads in EU merger control:Can a rethink on foreign takeovers address the imbalances of globalisation?

Reader, David (2017) At a crossroads in EU merger control:Can a rethink on foreign takeovers address the imbalances of globalisation? European Competition and Regulatory Law Review, 1 (2). pp. 127-138. ISSN 2510-3148

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Abstract

In the face of momentous change in global politics – which has already begun to usher in a new age of nationalism, populism and protectionism – the European Commission continues to afford primacy to its competition-based approach to merger assessment. However, the Commission is facing increasing pressure from some EU Member States to respond to the emerging challenges of globalisation by adopting a more protectionist industrial strategy that would shelter strategic industries from ‘unwanted’ foreign takeovers. Not since the global financial crisis has the ‘pressure to protect’ been so palpable, and this renewed scrutiny will test the Commission’s resolve to continue enforcing its strict competition-based approach. This article reflects on the recent developments that have left EU merger control at a crossroads in terms of how it proceeds to react to anti-globalisation sentiment. It also examines a radical proposal to task the Commission with the role of analysing foreign takeovers that arise in the EU’s strategic sectors. It finds compelling evidence to suggest that the existing regime provides a legal basis for the Commission to afford greater consideration to public interest factors in merger cases, which would allow it to undertake this task in lieu of legislative reform.

Item Type:	Article
Uncontrolled Keywords:	merger control,foreign direct investment,competition law,public interest,european commission,sdg 10 - reduced inequalities ,/dk/atira/pure/sustainabledevelopmentgoals/reduced_inequalities
UEA Research Groups:	Faculty of Social Sciences > Research Centres > Centre for Competition Policy
Related URLs:	http://core.lexxion.eu/article/CORE/2017...
Depositing User:	Pure Connector
Date Deposited:	06 Jul 2017 05:06
Last Modified:	24 May 2023 02:51
URI:	https://ueaeprints.uea.ac.uk/id/eprint/64036
DOI:	10.21552/core/2017/2/6

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