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Introduction The European Commission has on December 11, 2002 decided the most far-reaching reform of its merger control regime since the entry into force of the EU Merger Regulation in 1990. Besides a proposal for a revised Merger Regulation, which still requires approval by EU ministers, the Commission has also adopted draft guidelines on the appraisal of mergers between competing firms ('horizontal mergers') providing guidance to the business and legal community. In order to understand the main differences between those two regulations it's essential to understand the basic rules of the EU Merger Regulation and the interplay between this regulation and Notice on the appraisal of horizontal mergers. The European Community Merger Regulation (before amendments) The European Community Merger Regulation 4064/89 (the ECMR)1 was intended to provide "one-stop" control within the EU for mergers falling to its jurisdiction, so that such mergers would avoid risk of being investigated under two or more...

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