In Short: Commission Objects to Ryanair's Takeover Bid for Aer Lingus
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Reports have indicated that the EU Commission formally issued a statement of objections as part of its Phase II investigation into the proposed acquisition of Aer Lingus by Ryanair.
A Phase II investigation is commenced when there are serious doubts about the compatibility of a proposed transaction with EU competition law. The statement of objections sets out the Commission’s views as to why a proposed transaction would be incompatible with EU merger legislation. The parties have a right to make a written reply to the statement of objections and are also permitted to present their case orally at a formal hearing.
The statement of objections has not yet been published but this is expected shortly.
Contributed by Claire Waterson.
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