Overview of merger control activity during the last 12 months
If merger activity is an indicator of economic performance, any economic recovery being experienced in Ireland is slow and fragile. In 2012, the number of merger filings to the Competition Authority (“Authority”) fell for a second year in a row to a total of 33 filings. By comparison, there were 40 filings in 2011, 46 in 2010, 27 in 2009, 38 in 2008, 72 in 2007 and 98 in the ‘Celtic tiger’ peak of 2006. However, the overall downward trend masks a significant increase in activity towards the end of 2012. While only one filing was submitted to the Authority during January and February 2012, when the Eurozone debt crisis intensified with the downgrade of nine Eurozone sovereign ratings, there was a step-change in the last quarter of 2012 when 14 out of 33 mergers (42%) were notified.
