Emerging Trend of ‘Fix-It-First’ and ‘Up-Front Buyer’ Remedies in Merger Control Regimes

The Second Academic Gift Book of ELIG Gürkaynak Attorneys-at-Law on Selected Contemporary Competition Law Matters 87-140 (2019), ISBN: 978-605-315-352-8

63 Pages Posted: 14 Jun 2019

See all articles by Gonenc Gurkaynak

Gonenc Gurkaynak

ELIG Gürkaynak Attorneys-at-Law

Umut Bakanoğulları

ELIG Gürkaynak Attorneys-At-Law

Simru Tayfun

ELIG Gürkaynak Attorneys-At-Law

Date Written: March 2019

Abstract

Along with the prohibitions against anticompetitive agreements and abuses of market power, merger control is one of the three pillars of competition law in many jurisdictions, including the European Union and the United States. Such jurisdictions forbid concentrations that they deem to pose competitive concerns. However, in order to reach a more beneficial outcome than an outright prohibition, competition authorities may sometimes prefer to approve these concentrations that give rise to competition risks by requiring and implementing appropriate remedies for them.

Choosing a suitable remedy requires a careful examination of the relevant competitive concerns. This is because an inadequate merger remedy will fail to achieve its declared goals and may thereby lead to the hindering of competition in the relevant market.

This article aims to provide valuable insights regarding this specific type of remedy enforcement, which we will endeavor to achieve by: (i) comparing the Fix-it-First and Up-Front Buyer remedy enforcement systems that are used by different jurisdictions and competition authorities by presenting and evaluating their regulations and precedents, and thereby (ii) analyzing the advantages and drawbacks of FIF and UFB remedies, as well as the suitable conditions for implementing such measures. This article will also briefly touch on the issues surrounding the potential implementation of these remedies within the Turkish jurisdiction.

Keywords: fix-it-first, up-front-buyer, merger control, merger remedies

JEL Classification: L40, K21

Suggested Citation

Gurkaynak, Gonenc and Bakanoğulları, Umut and Tayfun, Simru, Emerging Trend of ‘Fix-It-First’ and ‘Up-Front Buyer’ Remedies in Merger Control Regimes (March 2019). The Second Academic Gift Book of ELIG Gürkaynak Attorneys-at-Law on Selected Contemporary Competition Law Matters 87-140 (2019), ISBN: 978-605-315-352-8, Available at SSRN: https://ssrn.com/abstract=3396750

Gonenc Gurkaynak (Contact Author)

ELIG Gürkaynak Attorneys-at-Law ( email )

Çitlenbik Sokak No:12
Yıldız Mahallesi
Istanbul, Beşiktaş 34349
Turkey

Umut Bakanoğulları

ELIG Gürkaynak Attorneys-At-Law ( email )

Yıldız Mah. Çitlenbik Sk. No:12
İstanbul, 34349
Turkey

Simru Tayfun

ELIG Gürkaynak Attorneys-At-Law ( email )

Yıldız Mah. Çitlenbik Sk. No:12
İstanbul, 34349
Turkey

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