Agenda / Materials

Program book of the workshop is available here. Printed version will be circulated at the workshop venue.

Pre-event

-Tuesday, 6 November-

18:00 -

Registration

[ 5th Floor Hallway ]

19:00 - 21:00

Welcome Reception

[ Room① Willard on 5th Floor ]

DAY 1

-Wednesday, 7 November-

8:00 -

Registration

[ 4th Floor Hallway ]

9:00 - 9:30

Opening Session

[ Room④ Le Grand on 4th Floor ]


Speakers :
Kazuyuki Sugimoto
Chairman, Japan Fair Trade Commission

Christine Wilson
Commissioner, US Federal Trade Commission
 

9:30 - 10:30

Plenary Session 1 : Merger Review in the Digital Economy

[ Room④ Le Grand on 4th Floor ]

This Plenary session aims to provide an overview of the issues and the challenges related to review of mergers in the digital economy and how agencies respond to them: What are the characteristics of mergers in the digital economy? How is merger review in the digital economy different? What has been the experience of competition agencies?


Moderator :
John Pecman
Senior Business Advisor, Fasken

Panelists :
Andrea Gomes da Silva
Executive Director, Markets and Mergers,
UK Competition and Markets Authority

Herbert Fung
Director, Business and Economics,
Competition and Consumer Commission of Singapore

Nuno Rocha de Carvalho
Member of the Board,
Portuguese Competition Authority (AdC)
 

10:30 - 11:00

Coffee Break

[ 4th Floor Hallway ]

11:00 - 12:15

Simultaneous Break Out Session


BOS 1 : Notification and Review

[ Room③ Atlantic on 5th Floor ]

The effectiveness of purely turnover-based notification thresholds recently has been called into question with regard to certain sectors, e.g., digital services and pharmaceuticals, for failing to capture certain transactions involving targets with limited actual turnover that may raise competition concerns. This concern arises primarily when an agency' s authority to review and challenge proposed transactions is limited to those transactions subject to mandatory notification requirements, i.e., the agency is deprived of jurisdiction for transactions that do not meet the jurisdiction' s notification requirements. This session will explore different ways of addressing these challenges, including appropriate alternative criteria for notification and residual jurisdiction.


Moderator :
Dave Anderson
Partner, Bryan Cave Leighton Paisner

Panelists :
Andras Toth
Vice President, Hungarian Competition Authority (GVH)

Fabian Pape
Head of Unit (German & European Merger Control),
Bundeskartellamt

Francisco Roig
Chief Case Handler,
Spanish Competition Authority (CNMC)

Paul O'Brien
International Counsel, US Federal Trade Commission
 

BOS 2 : Analytical Framework for Digital Mergers

[ Room⑥ Carlton on 4th Floor ]

Are standard approaches sufficient to capture non-price effects (e.g., effects on quality (including innovation), interoperability), which can arise in technology mergers? Does current market share become less important in rapidly changing markets? How should one account for network effects in the analysis? This session will use case examples to explore these topics.


Moderator :
Billy Vigdor
Partner, Vinson & Elkins

Panelists :
Keita Fukunaga
Director, Tokyo, AlixPartners

Salvatore De Vita
Case handler, Unit C5, Competition Directorate-General
of the European Commission

Serena Wong
Assistant Director, Digital Platforms Inquiry,
Australian Competition & Consumer Commission
 

BOS 3 : Issues in Big Tech Mergers

[ Room⑦ Afrodite on 4th Floor ]

Should we be concerned about tech giants acquiring startups active in adjacent markets, or could these acquisitions also have beneficial effects? Are our tools equipped to address potential concerns? Reviewing our experience to date, how have prior acquisitions affected these markets? What is the role of data in reviewing tech transactions? If a tech firm obtains data from a consumer experience, is that the equivalent of a transaction , such that changes to the way a consumer’s data is gathered or used could be analogized to a price increase or quality decrease? This session will rely on case examples.


Moderator :
Jackie Holland
Special Adviser, Slaughter and May

Panelists :
Brian McHugh
Member of Commission,
Competition and Consumer Protection Commission of Ireland

Greg Sivinski
Assistant General Counsel, Microsoft

Kenji Ito
Partner, Mori Hamada & Matsumoto
 

BOS 4 : Technology and Data Review

[ Room⑤ Amstel on 4th Floor ]

Merger review increasingly relies on large document and data submissions, and the technology available to gather, prepare, and review those submissions is evolving rapidly. What should agencies think about with respect to how merging parties are responding to document and data requests? What resources are agencies using for technology-assisted review? What are the benefits and challenges of outsourcing? This session will also explore recent technological innovations such as predictive coding.


Moderator :
Ruediger Schuett
International Counsel, US Department of Justice

Panelists :
Marc Reysen
Chair, Antitrust Committee,
International Bar Association

Thomas Ensign
Partner, Freshfields Bruckhaus Deringer

12:15 - 13:45

Lunch

[ Room①&② Willard & May Fair on 5th Floor ]

13:45 - 14:45

Plenary Session 2 : Vertical Mergers

[ Room④ Le Grand on 4th Floor ]

This Plenary session highlights the Merger Working Group’s Project on vertical mergers, which covers theories of harm, evidence, economic analysis, assessment of efficiencies, and remedies. This session may also address aspects of the digital economy such as platform mergers.


Moderator :
Joel Bamford
Senior Director of Mergers,
UK Competition and Markets Authority

Panelists :
Hanna Anttilainen-Mochnacz
Head of Unit B4, Competition Directorate-General
of the European Commission

Hiroyuki Odagiri
Professor Emeritus, Hitotsubashi University

John Davies
Partner, Freshfields Bruckhaus Deringer

Trevor Mackay
Associate Deputy Commissioner of Mergers,
Competition Bureau Canada
 

14:45 - 15:00

Room Change Break

15:00 - 16:15

Simultaneous Break Out Session


BOS 5 : Nuts and Bolts of Vertical Merger Review

[ Room③ Atlantic on 5th Floor ]

Focusing on a straightforward vertical case, this session will walk through the key steps in investigating a vertical merger, considering the ability, incentive and effect of the merger. The session will also briefly discuss ‘safe harbours’ and type of evidence used in the assessment of vertical mergers compared with horizontal mergers. Question whether the approach to the assessment of vertical merger varies between jurisdictions. This interactive group session is designed for participants with less experience in this area or those wishing to consolidate their knowledge.


Moderator :
Maria Duarte
Assistant Director, Mergers,
UK Competition and Markets Authority

Panelists :
Sachin Goyal
Deputy Director,
Competition Commission of India

Samantha Jane Mobley
Partner, Baker McKenzie

Sinduja Vivekananthan
Competition Law Officer of Mergers,
Competition Bureau Canada
 

BOS 6 : Economic Theory and Evidence in Analysis of Vertical Mergers

[ Room⑥ Carlton on 4th Floor ]

This breakout session is an opportunity to consider in more depth the economic theory and analytical techniques for vertical mergers. The session will look at the key theories of harm and possible techniques for assessing the available evidence, including quantitative methods e.g. vGUPPI.


Moderator :
Alexander Baker
Director, Fingleton Associates

Panelists :
Alípio Ricardo Codinha
Deputy Director of the Merger Department,
Portuguese Competition Authority

Jaewon Kim
Economic Counsel, Swedish Competition Authority (AdC)

Noam Dan
Economist, Economic Department,
Israel Antitrust Authority
 

BOS 7 : Remedies in Vertical Mergers

[ Room⑦ Afrodite on 4th Floor ]

This session will consider the use of behavioural remedies in vertical cases. We will explore the difficulties in designing, implementing and evaluating behavioural remedies and whether these can ever be overcome such that a behavioural remedy is really the right outcome where a vertical concern is identified. We will look to draw on the collective experience of the participants in this area to compare and contrast across jurisdictions.


Moderator :
John Kwoka
Professor of Economics, Northeastern University

Panelists :
Geoff Carter
Partner, Minter Ellison

Satoshi Ogawa
Senior Associate, Nagashima Ohno & Tsunematsu
 

BOS 8 : Conglomerate Mergers

[ Room⑤ Amstel on 4th Floor ]

Conglomerate mergers involve the combination of firms which sell products to the same customers. This session will present a case study to cover common theories of harm such as tying, bundling, and mixed bundling, and highlight important factors in analyzing conglomerate transactions, such as discussions on market power and foreclosure requirements, the role of scale economies, and the necessary types of evidence and evidentiary standards.


Moderator :
Ulla Schwager
Case handler, Unit A2, Competition Directorate-General
of the European Commission

Panelists :
Kaoru Harada
Director, Consultation and Guidance Office
(Concurrently appointed at Mergers and Acquisitions Division),
Japan Fair Trade Commission

Kyriakos Fountoukakos
Partner, Herbert Smith Freehills
 

16:15 - 16:45

Coffee Break

[ 4th Floor Hallway ]

16:45 - 17:45

Plenary Session 3 : Challenges of Globalization for Merger Review

[ Room④ Le Grand on 4th Floor ]

This Plenary session aims to highlight the challenges of globalization for the merger review, addressing both procedural and analytical aspects of these challenges. For example, does globalization influence geographic market definition and competition analysis? How can international cooperation help agencies to address multijurisdictional merger review? How should agencies and parties deal with coordination of extraterritorial remedies?


Moderator :
Kei Amemiya
Partner, Morrison & Foerster / Ito & Mitomi

Panelists :
Andrey Tsyganov
Deputy Head, Federal Antimonopoly Service of the Russian Federation

Christine Wilson
Commissioner, US Federal Trade Commission

José Luis Ambriz Villalpa
General Director of Mergers,
Federal Competition Commission of Mexico (COFECE)

José Maria Carpi Badia
Head of Unit A2, Competition Directorate-General
of the European Commission
 

18:30 - 20:30

Official Dinner

[ Tokyo Prince Hotel ]

*Departing from Le Grand by a chartered bus


DAY 2

-Thursday, 8 November-

8:00 -

Registration

[ 4th Floor Hallway ]

9:00 - 10:00

Plenary Session 4 : Innovation and Non-Price Effects in Merger Review

[ Room④ Le Grand on 4th Floor ]

Competition is normally based not only on price, but also on quality, investment in new products or processes, research and design, and various other competitive tools. This panel will explore how agencies consider non-price effects and innovation in particular, including the appropriate role of quantifying competition in quality dimensions and how agencies can consider the effects of mergers on incentives to invest in new products and processes within traditional analytical frameworks.


Moderator :
Reiko Aoki
Commissioner, Japan Fair Trade Commission

Panelists :
Carles Esteva Mosso
Deputy-Director General for Mergers,
Competition Directorate-General of the European Commission

Edith Ramirez
Partner, Hogan Lovells

Lebohang Mabidikane
Divisional Manager, Mergers and Acquisitions,
Competition Commission of South Africa

Tom Leuner
General Manager, Merger Investigations,
Australian Competition & Consumer Commission
 

10:00 - 10:15

MWG Work Products Presentation

[ Room④ Le Grand on 4th Floor ]


Speakers :
Merger Working Group Co-Chairs
(Japan Fair Trade Commission, UK Competition and Markets Authority
and US Federal Trade Commission)

10:15 - 10:45

Coffee Break

[ 4th Floor Hallway ]

10:45 - 12:00

Simultaneous Break Out Session


BOS 9 : Geographic Market Definition

[ Room③ Atlantic on 5th Floor ]

The development of globalization, trade liberalization, and digitalization poses the challenges of defining the geographic scope of a market in merger review. What situations lend themselves more readily to geographic markets broader than national borders? How do we address situations where the overall impact of a transaction may be concerning, but its effect in any one national market insignificant? How do we engage with customers and competitors in other jurisdictions, particularly where there are language barriers? How does evidence or analytical tools change with globalization and digitalization?


Moderator :
Huy Do
Partner, Fasken

Panelists :
Hiroaki Ishigaki
Managing Director / Tokyo Office Head,
NERA Economic Consulting

Vipul Puri
Deputy Director, Competition Commission of India

Yoonhwan Hwang
Director, M&A Division, Korea Fair Trade Commission

BOS 10 : Framework for Merger Review Cooperation

[ Room⑥ Carlton on 4th Floor ]

With the globalization of business activities, multijurisdictional merger notification is increasing and enforcement cooperation becomes even more important. What kind of framework for cooperation, both bilateral/multilateral and regional/global, is available for ICN member agencies and how do these tools support cooperation? What kind of cooperation activities are included? What practical challenges do agencies face in trying to cooperate? Are there particular mechanisms to facilitate cooperation for less well resourced or younger agencies? The BOS also aims to gather MWG members' inputs on how to promote the ICN Framework for Merger Review Cooperation established in 2012 and any improvements/upgrades helpful for the use of the Framework.


Moderator :
Yudi Hidayat
Commissioner, Commission for the Supervision
of Business Competition of Indonesia (KPPU)

Panelists :
Andrew Gallagher
Assistant Director,
Australian Competition & Consumer Commission

Michele Pacillo
International Affairs Officer,
Italian Competition Authority (AGCM)

Raphael Mburu
Manager, Mergers and Acquisitions,
Competition Authority of Kenya

Toshiko Igarashi
Senior Officer for Mergers and Acquisitions,
Japan Fair Trade Commission
 

BOS 11 : Information Exchange

[ Room⑦ Afrodite on 4th Floor ]

Information exchange is one of the important aspects of enforcement cooperation. In what circumstances should agencies consider exchanging agency non-public information with their counterparts? When and how should this occur? When do agencies benefit from the exchange of business confidential information? What are the potential challenges or liabilities associated with the exchange of any non-public information? What kind of information is typically exchanged in different stages of merger review? The BOS also discusses the practical tools for enforcement cooperation that the MWG will explore as this year' s project.


Moderator :
Kaoru Hattori
Partner, Nagashima Ohno & Tsunematsu

Panelists :
Chia-Hui Yang
Section Chief, Department of Manufacturing Industry Competition,
Taiwan Fair Trade Commission

Mateusz Boleslaw Błachucki
Advisor to the President,
Office of Competition and Consumer Protection, Poland

Mauricio Serralde Rodriguez
Partner, Creel, García-Cuéllar, Aiza y Enríquez

William H. Stallings
Partner, Mayer Brown
 

BOS 12 : Extraterritorial Remedies

[ Room⑤ Amstel on 4th Floor ]

In designing remedies to address the potential competitive harm of a merger in the domestic market, competition authorities may sometimes need to consider the scope of remedies beyond their own territory. This can raise controversial issues. What is the appropriate geographic scope of remedies? When do extraterritorial remedies generate conflicts among different competition law and policy objectives of relevant jurisdictions and how can agencies and practitioners solve them? What are the practical challenges in effectively enforcing remedies beyond a national territory?


Moderator :
Maria B Coppola
International Counsel, US Federal Trade Commission

Panelists :
Kenta Suzuki
Chief Deputy Director, Mergers and Acquisitions Division,
Japan Fair Trade Commission

Lebohang Mabidikane
Divisional Manager, Mergers and Acquisitions,
Competition Commission of South Africa

Richard Samuel Chiputula
Director of Mergers and Acquisitions,
Competition and Fair Trading Commission of Malawi

12:00 - 13:30

Lunch

[ Room①&② Willard & May Fair on 5th Floor ]

13:30 - 14:45

Simultaneous Break Out Session


BOS 13 : Innovation Assessment

[ Room⑥ Carlton on 4th Floor ]

This breakout session will rely on recent cases to examine the evidentiary challenges associated with analyzing innovation concerns such as potential competition, pipeline products, and innovation markets.


Moderator :
Giorgio Motta
Partner, Skadden Arps

Panelists :
Elad Mekdasi
Team Leader, Legal Department,
Israel Antitrust Authority

Jaana Boëlius
Senior Research Officer,
Finnish Competition and Consumer Authority

Renee Duplantis
Principal, The Brattle Group

 

BOS 14 : Non-price Effects in Retail and Healthcare Mergers

[ Room③ Atlantic on 5th Floor ]

In some mergers, the rivalry between merging parties focuses on one or more of quality, range and service instead of on price, meaning that the assessment of the merger effects will need to focus on these non-price factors. This session will introduce case studies from the retail and healthcare sectors where non-price effects have been dominant. The session will explore why non-price effects were important in these cases and how the analysis was undertaken.


Moderator :
Maxwell Harris
Economic Adviser,
UK Competition and Markets Authority

Panelists :
James Mancini
Competition Expert, OECD

Rob van der Laan
Economist, OmniCLES

Sibel Yilmaz
Counsel, Linklaters

BOS 15 : Practical Challenges When Considering Non-price Effects in Merger Reviews

[ Room⑦ Afrodite on 4th Floor ]

This will be an introductory session to carrying out a merger review where non-price effects are important. The session will be run through the use of case studies, with participants being given practical exercises to explore the challenges of non-price analysis.


Moderator :
Richard Davidson
Mergers Manager, New Zealand Commerce Commission

Panelists :
Bernardo Gouthier Macedo
Managing Partner, LCA Consultants

Isthar Westerhoff
Senior Enforcement Official,
Netherlands Authority for Consumers and Markets

Jacqueline Byers
Competition Law Officer of Mergers,
Competition Bureau Canada

 

BOS 16 : Should Privacy Be a Non-price Merger Effect?

[ Room⑤ Amstel on 4th Floor ]

How are agencies addressing the pressure on merger enforcement to absorb public policy objectives such as privacy? When or how should privacy be considered as a non-price element of merger review? How can concerns about privacy be remedied? This session will discuss these questions and examine cases where privacy was a consideration (Microsoft/LinkedIn, Google/DoubleClick, and others).


Moderator :
Heinrich Kuehnert
Partner, DORDA Rechtsanwaelte

Panelists :
Anton Hartl
Economist, Austrian Federal Competition Authority

Deborah Garza
Partner, Covington & Burling

Jonas Koponen
Partner, Linklaters

 

14:45 - 15:00

Room Change Break

15:00 - 15:15

Closing Session

[ Room④ Le Grand on 4th Floor ]


Speakers :
Joel Bamford
Senior Director of Mergers,
UK Competition and Markets Authority

Takashi Yamamoto
Commissioner, Japan Fair Trade Commission

15:45 - 17:30

Excursion

[ Tokyo Bay Cruise ]

*Departing from Le Grand immediately after Closing Session