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The Israeli Antitrust Authority published draft guidelines for horizontal mergers and invited the public to comment. The draft guidelines describe the methodology of analysis undertaken by the Antitrust Authority when reviewing a horizontal merger, i.e., a merger between either actual of potential competitors. The methodology detailed in the draft guidelines was derived from the experience of the Antitrust Authority in reviewing mergers in the past; however, it leaves room for the Antitrust Authority’s judgment with regard to each case on the basis of its specific circumstances.

The full update (in Hebrew)is available through the PDF icon.

The Antitrust Authority amended its position regarding cooperation between institutional investors in connection with restructuring negotiations with bond issuers. The newsletter reviews in Hebrew the several changes that took place in the Antitrust Authority’s position and the current legal situation.

The amendment of the Antitrust Authority’s position follow previously published guidelines, concerning the terms under which institutional investors may cooperate in order to renegotiate the terms of corporate bonds, without having to receive an exemption for this cooperation from the Antitrust Authority. According to the amendment, the Antitrust Authority will allow institutional investors to cooperate in this matter either under the terms articulated in the previously published guidelines or according to customary antitrust laws. The newsletter explains the required terms under customary antitrust law.

The full update (in Hebrew) is available through the PDF icon.