Commission v Schneider Electric SA [2002] ECR I-0000

European Court of Justice (ECJ)

Facts: Schneider Electric SA was ordered by the European Commission to divest itself of its share in another company because the concentration would be incompatible with the Common Market. Although the Commission's decision was later annulled, Schneider Electric had already sold its share before the end of a renewed merger control procedure.

Issue: Whether Schneider Electric was entitled to damages for losses incurred due to the Commission's initial decision, given that the shares were sold before the renewed merger control procedure concluded.

Held: The ECJ held that Schneider Electric was not entitled to damages in this case. The fact that the Commission's initial decision was annulled did not entitle the company to compensation because the company had divested itself of the shares before the end of the renewed procedure.

Judicial Statement: The ECJ stated that according to Article 7(3), Article 7(1) of the relevant regulation does not prevent the implementation of a public bid that has been notified to the Commission, provided the acquirer does not exercise the voting rights attached to the securities or does so only to maintain the full value of the investments and based on a derogation granted by the Commission.