Spain: Sanctions possible against Grifols for failure to notify of merger

Spain’s competition watchdog, CNMC, has started investigation proceedings against Grifols SA, which may face fines and sanctions stemming from their failure to notify authorities of their merger and acquisitions plans.

The CNMC authorized the first phase of Grifols takeover of Novartis International’s blood transfusion diagnostics division, which was bought by the Spanish multinational on March 25. However, the CNMC would have received the formal notification documents only ten days prior, on March 10th.

The relevant merger operations, meanwhile, would have taken place over one year prior, in early January 2014. Spain’s competition laws force businesses to notify the CNMC of any merger before it is carried out. Due to the timeline presented to the regulator, the CNMC has determined it necessary to investigate whether or not this rule was violated by the pharmaceuticals multinational.

Full content: CNMC

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