NEW MERGER AND TAKEOVER RULES POTENTIALLY AFFECTING UK EXPORTERS IN FORCE FROM 11 JUNE

On 12th June, Notice to Exporters 2018/13 was published by the Export Control Joint Unit and Department for International Trade advising that the UK government has strengthened its ability to scrutinise mergers and takeovers with relation to possible national security concerns through new rules that came into force on 11th June.  The new regulations amend the threshold tests for businesses in the military, dual-use, computing hardware and quantum technology sectors that are most likely to have implications for national security.  Businesses that develop or produce goods on certain of the Strategic Export Control Lists will be covered by the amended thresholds.  The changes allow ministers to intervene for public interest reasons when the target business’s UK turnover is more than £1 million, down from £70 million under the previous rules, and remove the requirement that a merger or takeover in these sectors lead to an increase in the parties’ combined share of supply of relevant goods or services before the Government is able to intervene.

https://www.gov.uk/government/publications/notice-to-exporters-201813-new-merger-and-takeover-rules-potentially-affecting-uk-exporters-in-force-from-11-june-2018

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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