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ARTICLE · 10 OCTOBER 2013

MOFCOM Conditionally Clears Baxter/Gambro And MediaTek/MStar

Mayer Brown
Mayer Brown
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A discussion which explores the issues raised in two recent cases which could have an impact on MOFCOM's future practice.

ChinaAntitrust/Competition Law
Hannah Ha
Hannah Ha
John Hickin
John Hickin
Philip Monaghan
Philip Monaghan
Wendy Y.S. Thian
Wendy Y.S. Thian
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Keywords: MediaTek, MStar, Baxter, Gambro, MOFCOM,

In August 2013, the Ministry of Commerce of China (MOFCOM) issued two new conditional approvals, bringing to 20 the total number of transactions cleared with conditions since China's Anti-Monopoly Law was enacted five years ago. The regulator sought "hold separate" obligations from the parties in relation to MediaTek's acquisition of MStar Semiconductor Inc (MStar), while imposing a structural divestiture remedy in Baxter/Gambro.

Following a precedent set in Glencore/Xstrata, MOFCOM also published, annexed to the two decisions, the full text of the remedial commitments imposed on the parties as a pre-condition to clearance. This demonstrates the regulator's on-going commitment to greater transparency and is to be welcomed on that account. Further, MOFCOM's analysis in the cases shows a growing confidence and sophistication although the decisions lack the level of detail one might be accustomed to in

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