Monday, July 6, 2009
Materials from CC/OFT Seminar on consultation draft of joint merger assessment guidelines now available
Posted by D. Daniel Sokol
From the CC website:
The OFT and CC organized a seminar to present and discuss the consultation draft of the joint merger assessment guidelines at the CC offices on 1 June 2009. Some 60 people attended, including representatives of legal firms and economic consultancies, academics and others with a professional interest in competition issues.
The CC Chairman, Peter Freeman, presiding over the meeting, outlined the three reasons why the CC and OFT had worked together to produce joint guidelines: to pool and share lessons learned in applying separate guidelines since 2003; to contribute to transparency and understanding; and to help reduce the burden on business by making the UK system of merger control work efficiently and effectively. He noted that the changes in the guidelines had been essentially evolutionary, although there had been significant developments in the definition of a merger, and during the period since 2003 the public interest regime had been seen in operation for the first time.
Amelia Fletcher (Chief Economist and Senior Director of Mergers, OFT) gave an overview of the changes in SLC methodology, highlighting the areas of market definition, coordinated effects, non-horizontal mergers and efficiencies.
Morven Hadden (Legal Director, CC) and Nicholas Scola (Assistant Director – Legal, OFT) gave a presentation on the coverage of the counterfactual in the guidelines.
Robin Finer (Director of Economic Analysis, CC) and Nicola Mazzarotto (Head of Policy Analysis, CC) spoke on market definition. Together with Chris Bowden (Legal Adviser, CC), Nicola Mazzarotto also gave the presentation on coordinated effects.
Chris Walters (Assistant Director of Mergers, OFT) spoke about unilateral effects and non-horizontal mergers
The powerpoint slides from the presentations and a full transcript of the seminar can be accessed below.