Document Type

Article

Disciplines

International Law

Abstract

European economic integration is a dynamic process involving a continuous balancing of national and Community interests in an attempt to create a single European market. The Merger Regulation seeks to ensure control at the European level of concentrations with a Community dimension, while leaving the review of purely national mergers to national authorities. Implementation of the Regulation by the Commission has proved thus far a success. However, the jurisdictional dividing line of the Regulation - a political compromise - though simple, is crude, and leaves many mergers with implications in more than one Member State not covered by the Regulation. These mergers are subject to a growing number of diverging national merger control laws enforced by agencies with diverging policies. The lack of a single measure, and single regulatory body, governing all mergers with a multi-state dimension distorts competition, hinders business expansion and reorganization, and undermines an efficient market for corporate control. This article examines these problems and some tentative solutions in view of the current emphasis on subsidiarity and state sovereignty.

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