The EC Merger Regulation takes precedence over the Swedish Act on Competition. The EC thus has an exclusive competence to review acquisitions with a community dimension. An acquisition has a Community dimension if:
a) the total worldwide turnover for all companies involved exceeds 5 billion ECU, and
b) the total turnover within the Community for at least two of the companies involved exceeds 250 million ECU.
However, this does not apply if each and every one of the companies involved achieves more than two-thirds of its total turnover within the Community within one and the same state (Council Regulation 4064/89 art. 1).
An acquisition with a Community dimension shall be reported in writing to the Commission one week at the latest after the conclusion of an agreement, or the submission of information about a public bid, or acquisition of a determining influence (Council Regulation 4064/89 art 4(1)). With regard to who shall make the report and what it should contain, see Commission Regulation 2367/90.
The content of this article is intended to provide general information on the subject matter. It is therefore not a substitute for specialist advice.
