Hostile Takeovers under Turkish Merger Control Regime

Under Turkish merger control regime, there is no special rule for hostile takeovers; the Turkish Competition Board (Board) treats filings for hostile transactions in the same manner as other notifications. If the target does not cooperate and if there is a genuine inability to provide information due to the one-sided nature of the transaction, the Turkish Competition Authority tends to use most of its powers of investigation or information request under Articles 14 (i.e., power to request any information deemed necessary by the Board from all public institutions and organizations, undertakings, and associations of undertakings within the designated timeframe) and 15 (i.e., power to conduct on-site inspections at undertakings and associations of undertakings in cases deemed necessary by the Board) of Law No. 4054 on the Protection of Competition.

For more information on hostile takeovers under Turkish merger control regime, please feel free to reach out to ELIG Gurkaynak at +90 212 327 1724 or through gonenc.gurkaynak@elig.com.