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ARTICLE · 07 JULY 2025

EC's Merger Control Assessment Of Basic Industries M&A Focuses On Capacity And "Pivotality"

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Many companies active in chemicals, steel and other basic industries are no strangers to the need to factor in merger control risk when assessing the feasibility...

European UnionAntitrust/Competition Law
A&O Shearman
A&O Shearman
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Many companies active in chemicals, steel and other basic industries are no strangers to the need to factor in merger control risk when assessing the feasibility of a strategic transaction. In recent years, however, the EC's approach to merger control enforcement in these sectors has evolved, with new analytical metrics coming to the fore.

In summary, when assessing the competitive impact of M&A in an industrial context, the EC now focuses on the share of capacity of the parties and their rivals (placing less weight on market shares based on sales to third parties). A more sophisticated approach to geographic market definition has also been adopted in recent years, using catchment areas determined by measurable distance or time rather than national- or EEA-wide markets.

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