General Court green lights European Commission’s new approach to Article 22 referrals

The General Court’s Illumina/GRAIL judgment confirms that the European Commission (EC) has the power under Article 22 of the EU Merger Regulation (EUMR) to accept referral requests from a Member State National Competition Authority (NCA) to review transactions over which the NCA does not have jurisdiction under national law. While Illumina has indicated that it intends to appeal, the judgment represents a major victory for the EC, in that it confirms that the EC has a broad discretion to review concentrations that would not otherwise be reviewable in the EU. It also reduces certainty for parties to concentrations, in relation to timing, deal certainty and management of antitrust risk.

Read the full legal update, "General Court green lights European Commission’s new approach to Article 22 referrals."