Business Implications of Divergences in Multi-Jurisdictional Merger Review by International Competition Enforcement Agencies

Antitrust and competition laws lie at the nexus of international law and business. Since 1890, antitrust law has expanded from its origins of regulating trusts in the United States to what is now a global body of law. However, this expansion has not come without drawbacks. As the number of worldwide competition review and enforcement agencies in both developing and developed nations continues to increase, multinational businesses contemplating mergers are faced with growing uncertainty and transaction costs. These escalating costs have led business community leaders to conclude that greater harmonization of merger law enforcement, at both the substantive and the procedural levels, would be of significant benefit