The Kerry/Breeo Merger: Two Views of Countervailing Buyer Power—The Competition Authority and the High Court

"The Irish Competition Authority’s (the Authority) Kerry/Breeo Determination, dated 28 August 2008, found that the leading grocery retailers would be unable to exercise sufficient countervailing buyer power post-merger in the rashers and non-poultry cooked meats markets to prevent a substantial lessening of competition (SLC), which is the competition test under the Competition Act 2002 (the Act). Subsequently, the Authority’s Kerry/Breeo Determination prohibiting the merger was annulled by the High Court on 19 March 2009, following an appeal by Kerry."

"This article is divided into seven sections, including the introduction. Section B defines countervailing buyer power. Section C makes a number of preliminary observations on the merger, while sections D and E present, respectively, the main findings of the Authority and the High Court with respect to countervailing buyer power. Section F critically examines the differing findings on countervailing buyer power between the High Court and the Authority. Section G presents some implications for merger control."