GLG News by Securities, Corporate Governance, and M&A Experts: Lawyers (Asia)

Matthew MurphyManaging DirectorMMLC Group

China's Anti-Monopoly Bureau Approves the Panasonic-Sanyo Transaction

November 11, 2009

Analysis of:China's Anti-Monopoly Bureau Approves the Panasonic-Sanyo Transaction | www.mmlcgroup.com

The Chinese Anti-Monopoly Bureau (AMB) handed down its decision in early November 2009, regarding Panasonic’s acquisition of Sanyo. The AMB approved the transaction subject to divestiture of certain assets. The decision is more comprehensive that previous decisions, although this case was the first to go into a third phase of investigation by the AMB indicating the complications involved.

Matthew MurphyManaging DirectorMMLC Group

The Regulation of Online Games in China

October 30, 2009

Analysis of:The Regulation of Online Games in China | www.mmlcgroup.com

The online games industry in China is becoming incredibly profitable, with millions of regular users and an endless thirst for new games and technology. This article looks at the regulations and departments in China that are claiming authority to regulate this space. As expected there is considerable room for improvement, however the regulatory environment is beginning to take shape.

Matthew MurphyManaging DirectorMMLC Group

China’s Anti-Monopoly Bureau Approves the Pfizer-Wyeth Transaction

September 29, 2009

Analysis of:China’s Anti-Monopoly Bureau Approves the Pfizer/Wyeth Transaction | www.mmlcgroup.com

On 29 September 2009, China’s Ministry of Commerce (“MOFCOM”) published another decision from its fledgling Anti-Monopoly Bureau (“AMB”), this time concerning the acquisition of Wyeth by US drug heavy-weight, Pfizer. Approval was granted to the transaction, ahead of approval from the US Federal Trade Commission, Australian ACCC and the Canadian Competition authority.

Rachel LaundersPartnerGilbert & Tobin Lawyers

ASIC v. James Hardie - the spotlight on company directors and senior management

June 2, 2009

Analysis of:James Hardie proceedings | www.asic.gov.au

Directors in Australian listed companies may be nervous about the duty of care which they owe to the company, following the decision in ASIC v. James Hardie (April 2009). The Court found that they have a duty to avoid exposing the company to risk of harm to reputation or legal claims. Senior executives, including the General Counsel, also came under the spotlight, being found in breach of their duties for failing to warn the board of the risks which the company was being exposed to. The case is also a reminder that companies need to take particular care with public announcements - the desire to promote the good news cannot overtake the need for an announcement which is balanced, objective, complete and accurate.

Matthew MurphyManaging DirectorMMLC Group

An analysis of China's Anti-Monopoly Bureau's decisions involving international M&A transactions, including the InBev/AB, Coca Cola/Huiyuan and Mitusbishi/Lucite transactions.

April 27, 2009

Analysis of:China’s New Anti-Monopoly Law – an analysis of recent decisions regarding foreign investment and trade | www.mmlcgroup.com

The new Chinese Anti-Monpoly Bureau ("AMB") has issued a number of controversial decisions in recent months, involving intenational M&A transactions.  It has approved most transactions, although many on a conditional basis, but it refused to approve the greatly followed Coca Cola acquisition of Huiyuan.  This article looks at the law, the criteria applied by the AMB, the facts and decision issued in a number of cases, and provides guidelines that companies should look at prior to approaching the AMB for approval.

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