For mandatory filing regimes, is there a statutory deadline for notification of the transaction?

Merger Control

China Small Flag China

There is no statutory deadline to notify of a concentration transaction in China. The notifying party only needs to notify of a concentration transaction before it is implemented and typically after the execution of the concentration agreement.

Denmark Small Flag Denmark

A notification may be made once the parties have signed a merger agreement and must be made before the merger is implemented.

Ireland Small Flag Ireland

Prior to reform of the merger control rules in 2014, notifications had to be made within one month of the conclusion of the agreement or the making of the public bid. This deadline no longer applies. Now, a transaction must only be notified in advance of implementation but may not be put into effect until the CCPC clears the transaction or the applicable statutory period for a CCPC determination expires without the CCPC making a determination.

Israel Small Flag Israel

Israel has no filing deadline – but the parties to a notifiable merger are prevented from closing the transaction or performing it in any way, including initial steps, prior to receiving the Commissioner's approval.

Japan Small Flag Japan

No statutory filing deadline exists. In practice, however, a notification should be filed more than 30 calendar days prior to the expected closing date due to the 30-day waiting period. In addition, the JFTC suggests that the parties should take approximately 10 extra calendar days for a draft check by the JFTC before the formal filing. The parties should also consider a period for a pre-notification consultation if they choose to do it before the formal filing.

Malta Small Flag Malta

Concentrations shall be notified to the DG prior to their implementation and within 15 working days following the conclusion of the agreement, the announcement of the public bid, or the acquisition of a controlling interest.

Turkey Small Flag Turkey

The Competition Law provides no specific deadline for filing but in light of the 30-calendar-day review period it is advisable to file the transaction at least 40 to 45 calendar days before closing. It is important that the transaction is not closed before the approval of the Competition Board.

Ukraine Small Flag Ukraine

The parties must submit a merger control notification before closing of the transaction. There is no such procedural step as an initial notification letter submitted prior to submitting the filing.

United States Small Flag United States

The HSR Act does not impose a deadline for notification of a transaction. However, the parties may not close the notified transaction until the relevant HSR waiting period has expired or been early terminated.

Russia Small Flag Russia

Merger control in Russia is mostly executed in the form of preliminary (prior) control, so there is no filing deadline for such control. Each deal that meets the thresholds stipulated by law should undergo preliminary approval by the FAS any time before completion.

As for post factum notification, it should be filed within 45 calendar days of completion of the deal.

United Kingdom Small Flag United Kingdom

There is no filing deadline.

Belgium Small Flag Belgium

There is no statutory deadline for notifying a concentration, provided that it is both notified and approved before it is implemented.

Austria Small Flag Austria

The Cartel Act does not set forth a filing deadline. However, the ban of implementations before clearance sets a limit as it implicitly defines the latest possible moment for notification (at least some four weeks, the typically Phase I duration, prior to the desired closing date; one seems well adviced to allow for more time with a view to allow for the preparation of the notification, etc).

South Africa Small Flag South Africa

There is no statutory deadline for filing.

France Small Flag France

There is no statutory deadline for notification of a transaction to the FCA. However clearance is required prior to completion of the merger.

Mexico Small Flag Mexico

According to statutory provisions, filing must be made before the concentration has legal or material effects in Mexico. This means, filing must be made before closing and, as explained, closing cannot occur without clearance on mandatory filing cases. Therefore, there is no formal statutory deadline for filing the notification form other than the limitation to file before legal or material effects have occurred. It is important to address that different from other jurisdictions Mexico does not contemplate pre-notification requirements, so formal merger procedure begins with filing. Consequently, informal meetings with the authority to review filing form or other aspects of the transaction, although might help, do not trigger any clock.

Germany Small Flag Germany

There is no filing deadline under German law, but notifications should be provided sufficiently in advance of the envisaged closing date so as to allow for sufficient time for the FCO’s review, depending on the perceived complexity of the matter.

Italy Small Flag Italy

The concentration shall be notified to the ICA before its implementation.

Australia Small Flag Australia

There is no filing deadline. Notification to the ACCC of a proposed transaction is voluntary.

Canada Small Flag Canada

For mergers that exceed the applicable filing thresholds, there is no deadline to file. However, because the merger control regime is suspensory, the parties cannot complete their transaction until they have complied with their filing obligations under the Act.

Cyprus Small Flag Cyprus

Although there is no express deadline within which concentrations should be filed, they must be both notified to and cleared by the CPC prior to their implementation.

Notification can also take place where the undertakings concerned prove to the Service their bona fide intention to conclude an agreement or, in the case of a takeover offer or of an offer for the acquisition of a controlling interest, following a public announcement of an intention or final decision to make such offer.

Updated: July 6, 2017