find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
ACCC approves SAP acquisition

ACCC approves SAP acquisition

Jones Day's Sydney office and Herbert Smith Freehills have advised on a $US4.5 billion acquisition by global business software company SAP.

Firms: Jones Day (Sydney) (SAP, globally); Herbert Smith Freehills (Ariba)

Deal: Acquisition of Ariba by global business software company SAP. 

Area: Competition

Value: US$4.5 billion

Key players: Nick Taylor led for Jones Day

Deal significance: Last week, competition authorities in the US and UK followed the ACCC's decision, and previous decisions in Austria and Brazil, to clear the acquisition. The ACCC's decision to clear the deal states that "the industry players and competitive dynamics in the markets identified are largely global, but the competition assessment was limited to effects on Australian consumers." Although the ACCC is careful to correctly identify its field of responsibility, from a practical perspective in internationally traded industries, assessing the effect on Australian consumers involves the same or very closely related judgments to those being made in other jurisdictions. 

Nick Taylor of Jones Day who represented SAP in Australia says that “working on multi-jurisdictional deals of this nature is particularly interesting from a substance and process viewpoint.”

"From the parties’ perspective, the terms upon which confidentiality over business secrets is granted should carefully protect the scope of the disclosure but there can be considerable advantages of facilitating dialogue between competition agencies.  Where the agencies can converse with each other about competitive effects in global markets, they are very likely to reach common views and the task of answering a single, coherent regulatory view of the world is obviously a lot simpler and more efficient than having to address multiple and potentially inconsistent regulatory concerns."

Taylor concluded to say "to some extent timing can be negotiated with the regulators but if you try and manage the process too tightly it becomes like a drawn out game of chess with each move taking 24 hours due to the time-zone differences.  If the competition process is allowed to grind down to that pace, it will certainly not meet the time frame required by the corporate deal."

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

ACCC approves SAP acquisition
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice, ALA, right-to-die law
Oct 24 2017
‘Right-to-die’ laws would be a relief for terminally ill: ALA
The passage of an assisted dying bill through the lower house of Victorian Parliament has been haile...
Oct 24 2017
Diversity top of agenda for future WA Law Society president
The advancement of diversity in the Western Australian legal profession will be one of the key items...
Oct 23 2017
How to fail well
The legal profession is due for an attitude adjustment when it comes to perceived failures, accordin...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...