The latest amendment to the Finnish Competition Act will introduce changes to the calculation of deadlines in merger control. As of 17 June 2019, merger control timelines will be counted in working days instead of months. Phase I investigation will in future last a maximum of 23 working days and the deadline for phase I decision will be calculated from the date following the receipt of a merger notification. In turn, phase II investigation will last a maximum of 69 working days and the Market Court may extend the phase II deadline by a maximum of 46 working days.
Weekdays from Monday to Friday will be considered working days. New Year’s Day, Epiphany, Good Friday, Second Easter Day, May Day, Ascension Day, Midsummer’s Eve, Independence Day, Christmas Eve, Christmas Day and Boxing Day are not considered working days.
The FCCA will apply the new deadlines to all mergers notified as of 17 June 2019. The deadlines in force prior to the amendment, namely the deadlines of 1 month and 3 months respectively, will be applied to mergers notified before 17 June 2019. The deadlines in force prior to the amendment will also be applied to those mergers that were notified before 17 June 2019 but are transferred to Phase II as of 17 June 2019.
It is advisable to contact the FCCA well before filing a merger notification. The pre-notification phase is especially important in case of mergers that raise potential competition concerns. When there are potential concerns, it is advisable to reserve a couple of months for the pre-notification phase.
Further information on merger control and the calculation of deadlines:
Head of Research Mikko Heinonen tel. +358 (0)29 505 3162
Director Sanna Syrjälä +358 (0)29 505 3385