市场监管总局公布3起经营者集中反垄断审查典型案例

Core Viewpoint - The article discusses the announcement by the State Administration for Market Regulation (SAMR) regarding the publication of typical cases of operator concentration, aimed at enhancing compliance and transparency in mergers and acquisitions [1] Group 1: Case Summaries - Case 1: Hangzhou State Capital Investment Operation Co., Ltd. acquired shares of Zhejiang Yingde Holding Group Co., Ltd. The review focused on horizontal concentration, with a combined market share exceeding 15% in the domestic atmospheric gas supply market, leading to unconditional approval [2][3] - Case 2: Gaoji Pharmaceutical Co., Ltd. acquired shares of Tianji Pharmacy Chain Co., Ltd. and three other companies. The review focused on both horizontal and vertical concentration, with a combined market share exceeding 25% in the pharmaceutical retail market in Xiangyang, resulting in unconditional approval [8][9] - Case 3: Ouyie Chain Gold Recycling Resources Co., Ltd. acquired shares of Hebei Grey En New Materials Co., Ltd. The review focused on horizontal and vertical concentration, with a combined market share exceeding 15% in the recycled steel raw materials and crude steel markets, leading to unconditional approval [21][22] Group 2: Market Analysis - In the atmospheric gas supply market, the combined market share of Hangzhou State Capital and Zhejiang Yingde was calculated based on bidding data, showing a market share of 25-30% based on production capacity and 30-35% based on project numbers, indicating a moderate level of concentration [5][6] - In the pharmaceutical wholesale market, both the acquirer and the target had a market share of 0-5%, indicating no market control post-merger. In the online pharmaceutical retail market, the combined share was 10-15%, also indicating no market control [13][14] - In the recycled steel raw materials and crude steel markets, the combined market share was 15-20%, with HHI indices below 1000, indicating low market concentration and no significant change in market structure post-merger [24][25] Group 3: Competitive Dynamics - The competitive analysis in the atmospheric gas supply market indicated that both companies faced effective competition from other suppliers, with a significant number of projects lost to competitors, ensuring no anti-competitive effects post-merger [6][7] - In the pharmaceutical retail market, the analysis showed that the acquirer did not have significant control over the market, with low entry barriers and the presence of new entrants, ensuring competitive dynamics remained intact [17][19] - In the recycled steel market, the analysis concluded that the concentration would not lead to anti-competitive effects due to the low market shares and the presence of numerous competitors, ensuring effective competition [26]