Technology undertakings in merger control: the impact on deal timetables
Assessing the 2022 amendments to Communiqué No. 2010/4 early in the acquisition process.
The Communiqué on Mergers and Acquisitions Requiring the Approval of the Competition Board (No. 2010/4) was updated in 2022. The amendment revised the turnover thresholds and introduced an exception to the Turkish turnover threshold for acquisitions of technology undertakings active in certain fields.
Why look early?
Even where the target’s Turkish turnover is low, qualifying as a technology undertaking may trigger a filing obligation. If this is not assessed at the start of negotiations, closing conditions and the long-stop date may have to be renegotiated.
We recommend adding the target’s fields of activity and Turkish nexus (users, R&D activity, sales) to the initial due diligence request list.
This article is for general information.
This content is for general information and is not a substitute for legal advice.