The Global Rise of the Antitrust AgencyMichael Orey
With much fanfare last September, Coca-Cola (KO) announced plans to buy China Huiyuan Juice Group for $2.4 billion, the largest acquisition ever of a Chinese company by a foreign corporation. Coke promptly filed for approval of the deal with antitrust regulators at China's Commerce Ministry. For six months—an eon in corporate deal time—the Ministry reviewed the transaction. On Mar. 18, the Ministry rejected it, saying the combined companies would be too dominant.
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