§ Mr. DarlingTo ask the Chancellor of the Duchy of Lancaster if he will list any information he has as to the major industrialised countries with mandatory prenotification procedures for mergers; and if he will indicate above what size these procedures come into effect.
§ Mr. MaudeCountries with merger prenotification requirements include the United States of America, Canada, Japan and the Federal Republic of Germany, the rules are complicated but in general the requirement to prenotify applies
in the USA, if one party has annual sales or assets of $100 million, the other party has annual sales or assets of $10 million, and as a result of the transaction the acquiring firm would hold at least $15 million or 15 per cent. of the stock of the acquired firm;in Canada, if the combined annual sales or assets of the parties exceed Can $400 million and if the value of the assets acquired exceeds $35 million;in Japan, to all pure mergers and transfers of a substantial part of a business (through a simplified procedure applies to certain small mergers where the assets of each party are less than 5 billion yen);in the FRG, if one party to the transaction has annual sales of at least DM 2,000 million, or if both parties have annual sales of at least DM 1,000 million.