Legal Academic Writes On Merger Review Under PRC Antimonopoly Law

Nicholas H. Cramer? of Tsinghua University – School of Law? writes….

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Here is? a merger review article I recently completed on merger review under the PRC Antimonopoly Law.

It is also available on SSRN. To see that or my other papers on the subject, please see my author page at http://ssrn.com/author=985417

For the abstract and opportunity to download this paper, please go to: http://ssrn.com/abstract=1577839


Here’s the abstract

Waiting for the Other Shoe: Merger Review Under the PRC Antimonopoly Law

Abstract:?????
A year and a half into the implementation of the Chinese Anti-Monopoly Law (AML), a merger review system has emerged that at first glance appears to offer more questions than answers to practitioners and enterprises seeking clarity from the legislation?s vagueness and ambiguity. From the anticipation leading up to the enactment of the AML on August 31, 2007, straight through the beginning of its implementation phase on August 1, 2008, many in the West fretted that the PRC?s inclusion of social and industrial policy concerns as foci of its new competition law would lead to scores of transnational mergers rent asunder by political and nationalistic concerns.

If those fears have not been fully assuaged in the intervening period, neither have the worst of them been realized. In an era of increased assertiveness and bombast from Beijing on a range of other issues, pragmatic assertiveness would be a more apt description of the implementation of the AML?s merger review provisions than runaway protectionism. While dangers of arbitrariness remain and significant departures from established practices in other jurisdictions have been evident, the results thus far could have been far worse from the perspective of investors, enterprises and other stakeholders in the international competition system.

Keywords: China AML competition antitrust merger acquisition MOFCOM review

Working Paper Series
Date posted: March 29, 2010 ; Last revised: March 29, 2010

He adds…. I would appreciate any criticism or comments any of you may have, and can be reached directly at the email address above.

Thanks,
Nicholas Cramer