UK Government doubles merger tax
The Government is increasing merger fees charged by the competition authorities with effect of 1 April 2006. This increase will be phased in a two-stage process over a three-year period. The amendment also provides for foreign acquirers to be charged a merger fee for the first time.
Introducing the order, the competition minister Gerry Sutcliffe said:
“Merger fees have not been changed since their first introduction in 1990 so an increase in the fees charged is due. We will phase
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