Global Enforcement Update: EC Imposes $27 Million Fine for Gun Jumping in an Acquisition

Summary: On July 23, 2014, the European Commission imposed a fine of €20 million (US $26.9 million) on Marine Harvest, the leading salmon farming and processing company in the European Economic Area, for acquiring its rival Morpol without having received prior authorization under the EU Merger Regulation. This enforcement action once again highlights the Commission’s determined efforts to significantly fine companies that do not comply with the standstill obligation of the European competition merger rules.