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China's Antimonopoly Law: The First Test

Law360 (March 19, 2009, 12:00 AM EDT) -- The People’s Republic of China Ministry of Commerce (MOFCOM) announced on March 18, 2009, that it had rejected Coca-Cola Co.’s $2.3 billion bid to acquire China’s Huiyuan Juice Group Ltd. under the country’s Anti-Monopoly Law (AML).

This decision is the first significant application of the AML since the law went into effect in August 2008, and a possible indication of how MOFCOM may analyze transactions involving foreign corporations seeking to acquire significant domestic competitors in China.

MOFCOM’s Decision to Block the Acquisition

In its public statement...
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