Porter Elliott quoted by GCR on EU fine imposed on Merck subsidiary
Porter was quoted extensively by Global Competition Review (GCR) in a recently published article on the European Commission’s decision to fine Sigma-Aldrich EUR 7.5 million for providing incomplete or misleading information in the context of the Commission’s investigation of the company’s acquisition by Merck.
In the article, Porter notes that this is only the third case where the Commission has imposed a fine for such an infringement, the other cases involving Facebook (EUR 110 million) and General Electric (EUR 52 million), and all three occurred within the last four years. Compared to the first two fines imposed, this fine is modest, but, Porter explains, “it is proportionally in line with these other fines, considering that Sigma-Aldrich is a smaller company”. Porter also notes that in all three cases, the fines imposed represented "a very small percentage" of the company's total revenue, and while the fines may have some deterrent effect, "the negative publicity garnered for being fined is likely to be as much of a deterrent as the fine itself".
The article is available here.
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