The European Commission recently published a consultation paper that invites comments on a proposal to allow review of the acquisition of noncontrolling minority shareholdings. The proposed reform is the most significant in the last 10 years and could have a huge impact on many corporate transactions.
Under the current E.U. Merger Regulation, the commission only has the power to review transactions that lead to an acquisition of control, in contrast with some countries, such as Austria, Germany, the United Kingdom, Canada and the United States, where minority investments can be reviewed.
