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ARTICLE · 17 MAY 2017

Commission Warning: Double-Check Accuracy Of Your Merger Info

De Brauw Blackstone Westbroek
De Brauw Blackstone Westbroek
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De Brauw Blackstone Westbroek

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The European Competition Commissioner, Margrethe Vestager, recently announced that parties to a "handful of mergers"...

NetherlandsCorporate/Commercial Law
Erik Pijnacker Hordijk
Erik Pijnacker Hordijk
Martijn Snoep
Martijn Snoep
Jolling De Pree
Jolling De Pree
Jaap De Keijzer
Jaap De Keijzer
Bart De Rijke
Bart De Rijke
Peter Maessen
Peter Maessen
Stefan Molin
Stefan Molin
Mieke Reij
Mieke Reij
Mathieu Schimmel
Mathieu Schimmel
+2 more
Author LinkedIn connections

The European Competition Commissioner, Margrethe Vestager, recently announced that parties to a "handful of mergers" are under scrutiny on suspicion of submitting "incorrect or misleading" information to the Commission during its merger investigation. The announcement comes shortly after Facebook received formal charges for providing incorrect data during proceedings for the acquisition of WhatsApp. This is a clear reminder for companies that they are under a legal obligation to supply accurate and complete information as a notifying party or as a third party responding to an information request. Failing to do so can result in substantial fines.

Until 2004, the maximum fine for providing misleading or incorrect information was EUR 50,000. Under this old regime, the Commission imposed seven fines. Among the first sanctioned were two French pharmaceutical companies, Sanofi and Synthelabo, which failed to accurately outline their activities in the morphine

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