On 25 January 2010, at 9.38 am, the Danish Competition
Authority approved Danish Agro a.m.b.a's ("DA")
takeover of S.A.B. A.m.b.A. Landbrugets Andel
("SAB").
It was, e.g., taken into account in the merger assessment that potential competitors constituted a sufficient counterbalance, including Aarhusegnens Andel A.m.b.A. ("AAA"), to offset the competition concerns about the merger.
On 25 January 2010, at 11.06 am, the Danish Competition Authority received an email notifying a rescue plan for the takeover of AAA. The material showed that a framework agreement had been entered into on 13 January 2010 with a consortium consisting of DLG and DA for their joint takeover of AAA. The material further revealed that it was contemplated that DLG and DA were to split the company between them, that DA was to take over the most essential activities within the feeding stuff area and that AAA was facing bankruptcy.
The lawyer representing DA in connection with the takeover of SAB was also involved in DLG and DA's takeover of AAA.
The Danish Competition Authority had not been informed of these circumstances by the parties or the parties' lawyers, although DA had forwarded a response to the merger approval on 21 January 2010. On this background, the Danish Competition Authority concluded that the merger approval had been granted on insufficient information which could be ascribed to one or more of the parties concerned and that the conditions for revocation of the merger approval were present. In view of these facts, the Danish Competition Authority revoked the approval.
The merger was subsequently approved with conditions on 26 February 2010
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