Cade extends the deadline to review 3 mergers
The Plenary of the Administrative Council for Economic Defense – CADE ratified, in Wednesday’s session (22 November), orders that extend, for 90 days, the deadlines to review the mergers 08700.002165/2017-97 (ArcelorMittal-Votorantim), 08700.002155/2017-51 (Ultragaz-Liquigás) and 08700.001097/2017-49 (Bayer-Monsanto).
All of the three transactions were filed in April 2017. The New Brazilian Competition Law (12,529/2011) establishes that the deadline for reviewing mergers is up to 240 days, with the possibility of a 90-day extension, subject to Plenary decision. Thereby, CADE’s deadline to review the cases, after the extension, will be March 2018.