- 1、本文档共6页,可阅读全部内容。
- 2、原创力文档(book118)网站文档一经付费(服务费),不意味着购买了该文档的版权,仅供个人/单位学习、研究之用,不得用于商业用途,未经授权,严禁复制、发行、汇编、翻译或者网络传播等,侵权必究。
- 3、本站所有内容均由合作方或网友上传,本站不对文档的完整性、权威性及其观点立场正确性做任何保证或承诺!文档内容仅供研究参考,付费前请自行鉴别。如您付费,意味着您自己接受本站规则且自行承担风险,本站不退款、不进行额外附加服务;查看《如何避免下载的几个坑》。如果您已付费下载过本站文档,您可以点击 这里二次下载。
- 4、如文档侵犯商业秘密、侵犯著作权、侵犯人身权等,请点击“版权申诉”(推荐),也可以打举报电话:400-050-0827(电话支持时间:9:00-18:30)。
- 5、该文档为VIP文档,如果想要下载,成为VIP会员后,下载免费。
- 6、成为VIP后,下载本文档将扣除1次下载权益。下载后,不支持退款、换文档。如有疑问请联系我们。
- 7、成为VIP后,您将拥有八大权益,权益包括:VIP文档下载权益、阅读免打扰、文档格式转换、高级专利检索、专属身份标志、高级客服、多端互通、版权登记。
- 8、VIP文档为合作方或网友上传,每下载1次, 网站将根据用户上传文档的质量评分、类型等,对文档贡献者给予高额补贴、流量扶持。如果你也想贡献VIP文档。上传文档
查看更多
UNITEDTECHNOLOGIES(UTC)GOODRICHMERGERHighlights
JUNE 2012
CHINA MERGER CONTROL WATCH (15)
For more imformation, please email: John Jiang at johnjiang@, Scott Yu at
scottyu@., Rachel Li at lirui@, or Frank Jiang at
jianghuikuang@. About Zhong Lun: Ranked Band 1 in Corporate/MA and
Antitrust/Competition (Chambers Asia 2011/2012), with over 700 legal professionals
strategically located in 9 offices, Zhong Lun has one of the largest and most experienced PRC
competition teams with 7 partners supported by more than 20 associates. The team has
completed more than 40 PRC merger filings.
MOFCOM CONDITIONAL CLEARANCE OF
UNITED TECHNOLOGIES (UTC) – GOODRICH MERGER
(Decision Date: Friday, 15 June 2012)
Highlights
? The 7th decision published in the last 8 months (A total of 15 merger
review decisions were published since 2008)
? Bucking the trend shown in prior global merger clearance cases
(where PRC clearance was the last to be granted), MOFCOM’s
decision came out while EU antitrust authority still investigating the
case
? In market definition and competition assessment, MOFCOM
explicitly made reference to bidding practice/results (“…during many
instances of invitation for bidding for AC power generation system
carried out by aircraft manufacturers from 2007 to 2011, UTC won
most of the market opportunities, Goodrich was one of the few
aircraft AC power generation system suppliers that won such
bids…”)
? While acknowledging the possibility of potential entry, MOFCOM
determined that entry barriers are relatively high due to high entry
costs and “limited and uncontrollable market opportunities”. (Note:
MOFCOM’s Merger Competitive Impact Assessment Rules provides
that entry should assessed in terms of likelihood, timeliness and
sufficiency)
? CR2 (84%), HHI (7158) and delta value (1728) were used to
indicate very high level of market concentration (Note: The
amended MOFCOM merger notification form, effective 7 July 2012,
requires t
文档评论(0)