China blocks Coke deal; Skadden and Freshfields advise
In one of the first major tests of China's recently-adopted antitrust law, the country's government has rejected a $2.4bn (£1.7bn) bid by Coca-Cola to acquire Chinese beverage maker Huiyuan Juice Group. If it had been permitted to proceed, the deal would have been the largest-ever takeover of a Chinese company by a multinational. The closely-watched deal saw Coca-Cola represented by Skadden Arps Slate Meagher & Flom, whose team was led by Nicholas Norris in Hong Kong and Gregory Miao in Shanghai. Huiyuan instructed Freshfields Bruckhaus Deringer.China's Anti-Monopoly Law came into affect in August 2008. Broadly modelled on Western competition laws, the measure also takes into account proposed mergers' impact on "national economic development".
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