'Warehousing' Structures May Violate EU Merger Regulations
Law360 (September 5, 2019, 2:31 PM EDT) -- On June 27, the European Commission announced that Canon Inc., a Japan-based imaging and optical products manufacturer, has been fined €28 million ($33 million) for “jumping the gun” in its acquisition of Toshiba’s medical unit, Toshiba Medical Systems Corporation, before securing EU antitrust clearance.
This decision comes one year after the commission imposed its highest ever gun-jumping fine on Altice on April 24, 2018, in its 2015 acquisition of PT Portugal. The commission issued a statement stressing that companies have to respect competition rules and procedures, and are obliged to notify and wait for approval before a merger can go ahead....
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