The legal issues that relate to mergers and acquisitions (M&A) of businesses.

A judge in Israel has stayed the proposed merger of Dor Alon Energy and Sonol Israel.  According to GLOBES' Supreme court delays Dor Alon-Sonol merger, Judge Edna Arbel stayed the merger until the Supreme Court hears an appeal by Israel's Antitrust Authority.

The Dor Alon-Sonol merger was announced in September 2005.  The Antitrust Authority opposed the merger, denying clearance. On appeal to the Restrictive Trade Practices Tribunal, the Tribunal approved the deal with conditions.  This time, the Antitrust Authority appealed to the Supreme Court.

In staying the merger pending the appeal, Judge Arbel "noted the importance of the fact that the Restrictive Trade Practices Tribunal did not reject the arguments of the Antitrust Authority concerning reasonable concern about material damage to competition."  She "largely agreed with the Antitrust Authority's economic analysis."

Things don't look good on this one . . . Stay tuned.

Italy's top antitrust enforcer, Antonio Catricala, told an Italian newspaper that a merger between two Italian energy companies Enel, the country's largest utility, and Eni, an oil and gas company, would violate Italy's antimonopoly laws. According to this Reuters.com article, Italy antitrust head: Enel-Eni merger to breach law, talk of such a merger began after France announced that it would approve the consolidation of two French energy companies, Gaz de France and Suez, when it learned of "Enel's possible bid for Suez." Concerning the "debate about protectionism and economic patriotism," a debate occurring in the US as well, "Catricala said neither [the] market nor consumers needed national champions."  Here, here.