Philippines Watchdog Raises M&A Review Thresholds

Antitrust watchdog Philippine Competition Commission (PCC) has raised the thresholds for the compulsory notification of mergers and acquisitions starting next month.

Thresholds were raised to P6 billion (US$118.6 million) for the size of person (SOP) from P5.6 billion (US$110.7 million) previously, and to P2.4 billion (US$47.5 million) for the size of transaction (SOT) from P2.2 billion (US$43.5 million) previously.

The revised thresholds apply to M&As with definitive agreements executed on or after March 1, 2020, and do not apply to deals consummated before the said date.

“Adjustment of the thresholds ensures that potentially anti-competitive M&As are subject to compulsory notification and review, while those that are less likely to pose competition concerns are excluded,” PCC Chairperson Arsenio Balisacan wrote in an emailed statement.

Under the Philippine Competition Act, the PCC is mandated to review mergers and acquisitions to ensure that such deals do not harm the interest of consumers.

Full Content: PhilStar

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