Competition Commission modifies form for M&A approvals
In efforts to reduce the compliance burden and make assessments more objective, Competition Commission of India (CCI) has revised the long form format for submission of details related to mergers and acquisitions. Under the Competition Act, Mergers and Acquisitions (M&As) or combinations beyond a certain threshold require approval from the CCI.
Amendments have now been notified to Form - II, which generally pertains to case requiring detailed examination to assess the likely effect of the combination on competition in India and aimed to remove duplicity and limit the information requirement so that they remain focused and relevant to the objective of assessment of a merger, suitably clustering the information on common subject and streamlining the flow of information for better navigation. It also revises the content and format of information that the parties to a combination used to file under section 6(2), where the post-combination market share exceeds 15 per cent in cases of horizontal overlap and 25 per cent in cases of vertical interface.
