On March 18, 2025, a legislative proposal was opened for consultation that, if enacted, would enable the Dutch Authority for Consumers and Markets (“ACM”) to “call in” transactions that currently do not meet notification thresholds for merger review.[1] The Proposal follows calls by the ACM for expanded authority and coincides with its first investigation into whether a below-threshold transaction violated antitrust law.
Several European competition authorities – including in France, Germany, Italy, and Sweden – can conduct general or sectoral market investigations. By closely reviewing sectors that are not perceived to be functioning well, authorities seek to understand market conditions and evaluate whether anticompetitive practices may be contributing to the perceived issues. Some authorities, such as the Austrian, Belgian, and Dutch, authorities, can merely make recommendations at the end of the investigation. Others, including in Denmark, Germany, and Italy, have the power to subsequently impose conditions to resolve the identified market failures despite the absence of competition infringements.