MEXICO LAW AND PRACTICE Contributed by: Fernando Carreño, Sergio López, Michel Llorens, Andoni Garza and María García, Von Wobeser y Sierra
tion of Cornershop proposed by Walmart. Even though the parties offered behavioural remedies to address the competition concerns raised by the authority, the latter considered that these were not enough to resolve the concerns. Other foreign-to-foreign transactions – for example, Bayer-Monsanto (2018) – have been conditioned on remedies by the authority. 6. Ancillary Restraints and Related Transactions 6.1 Clearance Decisions and Separate Notifications When a transaction is notified, the parties must provide the authority with the transaction docu - ments and specify whether the transaction con - templates any ancillary restraints (eg, non-solic - itation or non-compete provisions) or related transactions. The authority takes ancillary restraints very seri - ously and conducts a deep analysis. It is worth noting that, if any of the restraints are amended after the authority authorises the transaction, the authority is highly likely to open a gun-jumping procedure for closing the transaction on terms other than those authorised. The ancillary restraints must be notified and cleared within the same analysis of the whole transaction. Regarding related transactions, the parties can include them within the description of the main transaction and seek authorisation of both the main and ancillary transactions. It is highly rec - ommended that the parties provide clear and straightforward descriptions of all the transac - tions involved. However, to contemplate these other transactions within a single decision, it is also possible that the authority will request that other entities related to the ancillary transactions
adhere to filing requirements and provide infor - mation and documents.
7. Third-Party Rights, Confidentiality and Cross-Border Co-Operation 7.1 Third-Party Rights There is no process foreseen in the law through which third parties can be involved in the pre- merger review procedure. However, aside from information requested by the authority (if any), third parties can submit White Papers containing evidence/arguments on why the merger should be assessed in a specific fashion or ultimately rejected. 7.2 Contacting Third Parties The authority contacts third parties (competi - tors, clients, suppliers, or other authorities) only in complex transactions or when the transac - tion raises competition concerns. Usually, the authority notifies written RFIs; however, in some transactions, telephone calls will suffice. When remedies are offered by the parties, the authority analyses whether these remedies address the competition concerns identified. When the remedy completely resolves the com - petition concern (eg, divestment of a business unit or eliminating the overlap among the par - ties), the further assessment carried out by the authority is easier; otherwise, an in-depth analy - sis is required. 7.3 Confidentiality The Authority publishes a redacted version of the decision by means of which the transaction is authorised. These public versions of the deci - sions omit information identified by the parties as confidential. Commercial information and
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