The European Court of Justice (ECJ) has dismissed the European Commission’s (EC’s) appeal against the Court of First Instance’s (CFI’s) ruling in Tetra Laval/Sidel. Despite what may at first glance appear a total defeat for the commission, the ECJ’s ruling contains an important victory for it in relation to the standard of evidence required before it can adopt a prohibition decision under the EC Merger Regulation. The ruling will also have a practical impact on the assessment of conglomerate mergers (where the parties operate in different markets).
Tetra Laval is a worldwide leader in cartons used to package various types of liquids. Sidel is a leading manufacturer of PET plastic packaging equipment. Tetra launched its bid for the French company Sidel in March 2001. In accordance with French Stock Exchange rules, the bid was unconditional and Tetra subsequently acquired Sidel.
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