M&A COVID-19 Wire - Part 5

1. Proposed Legislation: Extension of Review Periods for German Merger Control

• A formulation assistance for the draft of a law to mitigate the consequences of the COVID-19 pandemic in competition law of the German government provides for an extension of the German merger control review periods. The initial phase I review period shall be extended from one month to two months. The phase II review period (for in-depth reviews) shall be extended from four months to six months. This shall apply to all notifications filed with the German Federal Cartel Office between 1 March 2020 and 31 May 2020 (end of the day) unless clearance has already been granted or is deemed to be granted.
• The extension of the review periods shall provide the Federal Cartel Office with sufficient time for its investigations in relevant markets, in particular as regards third parties.