Global Competition Law is primarly a practitioner's guide presenting the most salient aspects of the major competition laws country by country, giving an overview of their structure and most charasteristic elements.
Global Competition Law also provides insight into possible future developments in the field.

Global Competition Law

Section 9(2) of the Act provides that an intended concentration must be notified to the Competition Council prior to its implementation and after the submission of a proposal to conclude the agreement, or the acquisition of the rights of ownership or of disposal of certain assets. The notification of a concentration may also be submitted in case of a good faith intention to conclude the agreement  …

Merger notification

Section 9(2) of the Act provides that an intended concentration must be notified to the Competition Council prior to its implementation and after the submission of a proposal to conclude the agreement, or the acquisition of the rights of ownership or of disposal of certain assets. The notification of a concentration may also be submitted in case of a good faith intention to conclude the agreement or to make a public bid to buy up shares.

Unless they are informed to the contrary, parties to the concentration must await the Council's decision before taking any action to carry out the merger (Section 10). However, they may, without permission, make a public offer to buy up shares and make transactions on transferable securities admitted to trading on a regulated market, provided that no later than seven days after these actions a notification is submitted to the Competition Council and the acquirer of the securities does not exercise the voting rights granted by the securities (Section 10(4)).

Notifications are submitted according to a standard form, annexed to the Competition Council Resolution No 45 of 27 April 2000 “on approval of the procedure for submission and examination of notification on concentration and of calculation of aggregate turnover”. The notification includes registration data of the undertakings participating in the concentration, reasons, objectives and description of the concentration, annual financial accounts of each participating undertaking for the last three preceding years, purchase and sale volumes of each participating undertaking for the preceding year, information on the enterprises owned by the undertakings concerned, an assessment of the market share of each undertaking participating in the concentration in the relevant market and a list of the main competitors of each of the undertakings concerned in the relevant markets.

Following the publication of the notification in Lithuania's Official Journal, interested parties may send comments to the Competition Council. According to Resolution No 45, interested parties are, besides the notifying parties, natural or legal persons whose interests are affected by the concentration and public and local authorities.

If a notification does not comply with the legal requirements, the Council informs the undertakings concerned. It then must issue its decision within four months either allowing the concentration, permitting its implementation subject to certain conditions and obligations, refusing its implementation or ordering further investigation. A stop-the-clock mechanism was introduced in 2017 (Section 11(6)). 

Pursuant to the provisions of Section 14, where there are reasonable grounds to believe that a concentration has been put into effect in violation of the provisions of the Act or in breach of the resolutions of the Council, further investigations may be carried out. The Competition Council then has three months to examine the concentration notification. In the event that the Council fails to issue a decision after those four months, the concentration may proceed without fear of penalty.

  Pursuant to Section 21 of the Act, the undertakings concerned are entitled to protection of their commercial secrets which was strengthened by the 2012 amendments.

Global Competition Law

494. Merger notification

Demandez un accès gratuit
au contenu exclusif Livv – juristes d’entreprise

Les notions juridiques connexes

494. Merger notification

Demandez un accès gratuit au contenu exclusif Livv – juristes d’entreprise

Les notions juridiques connexes

Demandez un accès gratuit
au contenu exclusif Livv – juristes d’entreprise