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Question 1
A large US-based client with business interests in many jurisdictions in Europe and the UK comes to you with a potential acquisition of another US business (which also
has global operations) and asks for merger control advice.
(a) the client is surprised and frustrated when you indicate that approvals may need to be sought in Europe. What would you say to the client? (3 marks)
(b) what is meant by a �merger� under EU and UK rules? (7 marks)
(c) what information would you ask for? (2 marks)
(d) what are the timing implications of having to notify under either the EU or UK rules? Can you close the deal whilst you await clearance? (8 marks)
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Question 2
You have just been appointed as the CEO of a large company active in the retail sector which was recently fined for its involvement in a cartel. Describe the steps you
would put in place to ensure your firm does not fall foul of the competition rules in future. (20 marks)
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Question 3
What are block exemptions and why were they introduced? Explain the structure of the Vertical Agreements Block Exemption and specifically explain what types of
agreements are covered and which fall outside the safe harbour of the block exemption. (20 marks)
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Question 4
A client is due to attend a trade association meeting next week, where she is certain to meet a number of her competitors. What advice would you offer her? In
particular, your client will give a presentation on general developments in the industry. Is this okay? Would the position be the same if your client discussed any of
the following:
(a) the impact of globalisation on margins. (5 marks)
(b) generic data inputs relating to volumes and prices for 2008-2010 across the sector (available on the internet). (5 marks)
(c) likely changes in relation to the inputs discussed under (b) for the client over the next 2 years. (5 marks)
(d) her thoughts on the government�s withdrawal of funding for the industry. (5 marks)
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Question 5
Your client is a UK train operating company which has bid to acquire another UK train operating company. Each company achieves significant turnover and the thresholds
are met for the transaction to be notified to the authorities in Brussels.
(a) Can you notify to the UK authorities instead, given that the focus of the transaction is the UK? (5 marks)
(b) If so, at what point would you ask for the case to be reviewed by the OFT, before or after notification? (5 marks)
(c) the transaction may give rise to a significant lessening of competition. What are the options available to the relevant authorities? (10 marks)
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Question 6
Explain the concept of market definition. Why and how do competition authorities use market definition in their analysis? Why is market definition important? Explain
the process by which you arrive at a market definition. Is there any difference between market definition in the context of competition law (abuse of a dominant
position and anticompetitive agreements); in the context of merger control and in the context of regulation? (20 marks)
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Question 7
Explain the facts in the Genzyme case. What were the instances of abuse of a dominant position which the Office of Fair Trading found in that case? What grounds were
upheld by the Competition Appeal Tribunal? With reference to this case, comment on the statement: �a dominant position confers on the holder a special responsibility to
facilitate the introduction of competition where none existed before�. (20 marks)
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Question 8
Consider the telecommunications sector and another regulated sector of your choice.
(a) Describe the salient features of regulation in both sectors. (5 marks)
(b) Comment on the relationship between competition law and regulation. What type of issues could be addressed both by competition law and by regulation? (5 marks)
(c) Why would some authorities prefer to adopt a regulatory approach rather than applying the competition rules? (5 marks)
(d) If a regulator had both competition law powers and regulatory powers, what are the pros and cons of adopting a competition law approach? What are the pros and cons
of adopting a regulatory approach? (5 marks)
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Question 9
Describe how the European Commission assesses the substantive impact of a concentration. If the Commission finds that a merger is likely to lead to a significant
impediment to effective competition, will it be prohibited? What other alternatives are there and in what circumstances would these be relevant? (20 marks)
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