Clifford Chance

EU Court of Justice clarifies the EU Merger Regulation prohibition on gun jumping?

6 June 2018

In its judgment in Ernst & Young, the Court of Justice of the EU (CJEU) provided guidance on the scope of the prohibition on implementing a transaction that is notifiable under the EU Merger Regulation (EUMR) prior to its clearance by the European Commission (so-called "gun jumping"). The judgment is a first piece in the puzzle of what amounts to gun jumping under the EUMR, but leaves open important issues that are expected to be addressed by other, ongoing cases.  In the meantime, broad reliance on the judgment may be limited by the unusual facts of the case.

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