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M&A faces global uncertainty as regulators ponder impact on markets overturned by Covid-19
15 May 2020 00:00
The Covid-19 pandemic has wreaked regulatory havoc around the globe, with the agencies responsible for reviewing mergers and acquisitions facing problems on two fronts. First up, the logistical challenges: Officials working from home may struggle to gain access to the material they need to finalize their review and interested parties may not be able to submit key information. But even more disruptive is the coronavirus’s impact on the markets. How can a regulator assess a deal’s impact on competition when the relevant market has been turned upside down by the lockdown?
The call for a merger moratorium due to the novel coronavirus pandemic likely won’t become law.
Pity the EU merger officials whose work sets them the near-impossible task of predicting how the world economy will look after Covid-19.