Some interesting takes.
8 Likes
Florian implying China have approved the deal
13 Likes
Hot shit rock and roll!
2 Likes
21 Likes
Tap out, CMA.
6 Likes
Chinaâs State Administration for Market Regulation granted unconditional approval for the deal late in a Phase III review, according to a Dealreporter item, which cited sources familiar.
3 Likes
So looks like CMA is the only holdout, in the USA the deal is approved until the FTC files an injunction to stop the merger. So the FTC actually has to act and not sit on the sidelines to block the deal in the USA and they will lose any court case brought up.
So we will see if 1.5 regulating bodies can stop a 70 billion $ merger already approved by 38 + regulating bodies.
18 Likes
CMA is the only important block. The implications around discussions between CMA and FTC were all around âCMA is doing the work for FTCâ because everybody knows FTC has a very weak case in front of a non politically oriented judge.
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I was not sure China would approve the deal. But I think now that China is just having fun ridiculing western practices (whereas favoring its own industries in the backyard).
3 Likes
The CMA are a result of useless political decisions in the UK and our recent instability.
But they are a lot better than the FTC. At least the CMA have processes and these are documented and have to listen to remedies.
The FTC are a bunch of wild activists just cahooting around doing whatever they think is âdown with the kidsâ.
CMA need oversight.
FTC need disbanding.
4 Likes
I would say the FTC is better since they canât actually block mergers and need to prove to the federal courts to get an injunction to block. Unlike the UK Microsoft can close as long as there isnât an injunction. The UK system Iâm sorry is the laughingstock globally right now.
8 Likes
Man, China couldnât wait to make fun of the west.
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FTC has already auto-disbanded with many departures and bad staff confidence. This is a commission where all republicans have left. I have not much sympathy for this party, but this is out of ordinary that a party is leaving the other party rules without combat. That is unprecedented and show how bad it is. It is like all democrat judges left the supreme court because they do not have majority.
3 Likes
The US system is better, but the current FTC and its action are badly managed.
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Yea the FTC is fine in this regard, here in the States the merger is approved unless the FTC files an injunction and actually wins in court. The FTC will lose in court, their only tactic in cases like this is that the court proceedings take a long time and some companies find it is not worth fighting. And MS is going to close without the FTC anyway and fight that court battle after closing.
The CMA on the other hand is pretty crazy, they keep screwing up the math in their findings they seem to have little to no checks and balances as in most cases the CAT will just throw it back to the CMA to render another verdict which may or may not change. I guess the PM could make the CMA over turn a decision but it is still not very clear who the CMA is actually accountable to for their decisions when they make factual and logical errors to come to that conclusion.
A single regulating department for a country where both merging companies are not even based in should not have the ability to stop this especially when the CMA has a ridiculous appeal process that skirts checks and balances.
4 Likes
Agreed.
1 Like
It will be interesting to see how the CMA & FTC deal with the string of M&A currently in from of them. Thereâs the Broadcom acquiring VMware, adobe acquiring figma, Amgen acquiring of Horizon Therapeutics, Johnson & Johnson acquiring Abiomed Inc., Krogers acquiring Albertsons and amazon acquiring irobot. Could see the two of them blocking most if not all as they mainly involve tech or pharmaceutical companies, two targets of regulators
CMA has already said that IA is its next target as a whole.
Microsoft ally is only increasing.