企业合并时“抢先合并”行为的反垄断法规制

Anti-monopoly Regulations for "Preemptive Merger" Behavior in Business Combination

企业合并时发生“抢先合并”行为会对市场竞争产生消极影响,因而应当受到反垄断法的规制,其逻辑起点为进行合理的反垄断分析。根据行为表现形式的不同,“抢先合并”行为可分为程序性“抢先合并”和实质性“抢先合并”。程序性“抢先合并”反垄断分析的认定要件是行为发生的时间节点,实质性“抢先合并”反垄断分析的认定标准主要是“控制”关系的变化。在对“抢先合并”行为进行反垄断规制的司法和执法实践中,发生法条竞合时应优先适用企业合并的“静止义务”条款,次之考虑适用垄断协议的相关条款。

The"preemptive merger"behavior during the merger will have a negative impact on market competition.Therefore,it should be regulated by the anti-monopoly law and its logical start is to conduct a reasonable antitrust analysis.According to different behavioral forms,the"preemptive merger"behavior can be divided into procedural"preemptive merger"and substantive"preemptive merger".The identifiable element of the procedural"preemptive merger"anti-monopoly analysis is the time node of the behavior,and the substantive"preemptive merger"antitrust analysis is mainly based on the change of"control"relationship.In the judicial and law enforcement practice of anti-monopoly regulation on the"preemptive merger"behavior,the"stationary obligation"clause of the business combination should be given priority when the law matches,and the relevant provisions of the monopoly agreement should be considered.