欧盟法对企业合并的规制

Merger Control in the European Union

企业合并是当今各国优化产业结构和企业组织结构的重要手段,也是企业迅速扩张、提高规模经济效益和国际竞争力的有效手段。然而,经济力量的集中和由此导致的市场结构的改变,容易产生或加强市场支配力量,从而起到排除或限制竞争的作用。为了防止企业通过并购实现或加强市场支配地位,维护市场上的竞争秩序,对一定规模以上的企业并购交易进行反垄断审查,已成为市场经济国家设计和实施反垄断法的通行做法。目前,已有七十多个国家建立了企业并购控制机制。其中十分引人注目的是,欧盟于上世纪90年代初建立了企业合并控制机制,并于2004年进行了改革。到目前为止,欧盟竞争总司作出的并购审查决定已达两千多件,在此过程中积累了丰富的经验。拟对欧盟企业合并控制制度的建立、理论、程序及实体规则进行研究,并就中国企业合并控制制度的现状及发展提出自己的看法。

Mergers and acquisitions have been used as effective means by companies to expand production, achieve economies of scale and improve ability to compete in international market under new conditions. Companies usually become more efficient, competition intensifies and the final consumer will benefit from higher-quality goods at fairer prices. However, the concentration of economic power may change market structure and therefore create or strengthen market dominance, which may further result in elimination or restriction of competition. Merger control refers to the procedure of reviewing mergers and acquisitions under competition law. Over 70 nations worldwide have adopted their regimes providing for merger control. Merger control regimes are adopted to prevent anti-competitive consequences of concentrations. The EU has established a regime for monitoring merger transactions by the Merger Regulation since 1990. In 2002, the Commission adopted a package of reforms designed to build on what is generally regarded as a successful record. The new merger regulation （139/2004） came into force in May 2004. This article will examine in detail the procedural and substantial rules of EU merger control regime and set forth our position on the future development of China＇s merger control regime.