A very interesting article by Victoria Ibitoye from MLex looking into the comments made by Andrea Coscelli, the CMA Chief Executive, in respect to the importance of internal documents in helping to understand the competitive effects on a proposed deal.
Documents have long been an important source of intelligence for competition matters - be it an investigation, related litigation or merger clearance. Companies hold vast amounts of data within their infrastructure and they need to ensure that it is appropriately managed and analysed when facing issues such as these. The fact that the regulator is so clearly stating their importance should only lead to this becoming a more important process.
There are a number of challenges companies face when dealing with such large quantities of documents in what are normally tight deadlines. However, an intelligent approach in terms of determining which data-sets to be focused on initially, speedy application of processing and analytics, combined with using the full-range of analytic and predictive coding, as well as their associated visualisations, can enable these challenges to be met in a cost effective manner.
If you'd like to know more about our capabilities in this area, please reach out to me.
Companies merging in dynamic markets should expect their internal documents to be heavily scrutinized by the UK’s competition regulator, which uses them to get a sense of long-term competitive effects, its chief executive has said. Internal documents have allowed the Competition and Markets Authority to understand the rationale for certain transactions, Andrea Coscelli told a London conference today. But he noted that the antitrust regulator's approach is not “mechanistic” and it seeks to take a “holistic view” of the evidence gathered. The CMA has stepped up its scrutiny of internal documents in recent months. This is particularly the case in mergers where deals represent a marked premium to the pre-offer trading price of the company being acquired, to get a better sense of acquirers' motivations.