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European Commission stops the clock on Sappi UPM joint venture

The European Commission has said that it “stopped the clock” in its
investigation into the joint venture by UPM and Sappi on May 29, with
e ect from May 26.
According to an EU spokesperson, “the ‘clock’ in merger investigations can be
suspended if the parties fail to provide, in a timely fashion, an important
piece of information that the Commission has requested from them [for its
competition assessment] within a prescribed deadline.”
The Commission added that once the information is supplied by the parties,
the clock will be restarted and the legal deadline for the decision will be
“adjusted accordingly.” The initial deadline was set to be October 26. As reported by Fastmarkets.

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