Research On Antitrust Law Regulation Of Mergers And Acquisitions

Mergers and acquisitions can enhance enterprises’market power in the short term to help them achieve economies of scale and to promote efficient allocation of resources in the world. M&A become important in antitrust law regulation in every country because when M&A reaches a certain scale, they might form a monopoly. Antitrust Law Regulation of M&A system is mainly involves four aspects:the M&A’ conception of antitrust law, the reporting system, the inspection system and the extraterritorial application.Antitrust Law Regulation of M&A is a broad sense, it takes the form of Business Combinations and the acquisition of control. Criteria to judge is the lasting effect in the relevant market’s effective competition. Investigation of M&A, the core is the acquisition of control, the main content is the possibility of exerting decisive influence on important strategic business activities of enterprises,at the same time,it needs to combine a lot of legal factors and facts factors.The core of reporting system is develop reporting standards. It determines the scope of application of antitrust law regulation of M&A. And it is the premise. The combining of global sales and domestic sales reporting standards is simply, directly and objectively reflect the scale of enterprises. This helps enterprises’reporting and legal operation department of antitrust’s examine and verify.And at the same time, it is can give consideration to the relationship between the behavior of M&A and local economy, the function of reporting standards,and the cost burden of enterprise.Inspection is the most important part of antitrust law regulation of M&A. The result determines the ultimate fate of M&A. The fundamental criterion is the damage to the market’s effective competition. Inspection of M&A including preliminary inspection and further inspection. Specific criteria for preliminary inspection is the market share and the market concentration. If the action is consistent with the standards, further inspection is necessary. Further inspection is to analysing anti-competitive effects according to the different types of M&A, considering offsetting strength by various offsetting factor and positive influence by M&A. At last, comparing positive influence and anti-competitive effects, M&A can be exemptible when positive influence can offset the negative impact, on the contrary, these which have strong anti-competitive effects and damage to the market could not exempt.The extraterritorial application of antitrust law regulation of M&A is mainly to solve the jurisdictional problem which the extra-territorial acts of M&A have intra-territorial effects. Effects doctrine is the basis and added principle of the extraterritorial application of antitrust law. And the link points which have close relationship should be the foundation of the jurisdiction.