Gun Jumping in M&A: General Court Judgment Affirms Strict Approach in Altice

The EU merger control regime imposes strict limitations on the interactions between parties pending merger clearance, to ensure there is no premature implementation of the transaction.

Recent court decision has far-reaching consequences on drafting and negotiation of customary “interim covenants” in M&A agreements.

This alert memo discusses the principles established by the EU General Court in its important judgment (Case T-425/18 Altice v Commission), and provides practical guidance for dealmakers.