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China's SAMR unveils guidance for reviewing non-horizontal mergers

( December 16, 2025, 08:44 GMT | Official Statement) -- MLex Summary: China’s market regulator on Tuesday released guidelines for reviewing non-horizontal mergers and acquisitions — between companies operating at different points in a supply chain or in related yet distinct markets, setting out nine chapters and 82 articles, along with 34 case studies explaining key provisions. The rules introduce clarifications tailored to vertical and conglomerate deals, including how authorities assess raw-material and customer-foreclosure risks, the transmission of market power through tying or bundling, and the potential for coordinated effects. The guidance also addresses emerging concerns in platform markets and other cross-sector digital ecosystems. Since the 2008 implementation of the Antimonopoly Law in China, more than 30 non-horizontal transactions have been reviewed. The announcement follows and the full text is attached....

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