Philippines eases corporate buyout rules to suppress bankruptcies

Move raises concerns over monopolies and rise of megaconglomerates

20201023N Philippine cement factory

Philippine conglomerate San Miguel withdrew a bid to purchase a rival cement company over after concerns over antitrust laws were raised. Those laws have now been loosened.

JUN ENDO, Nikkei staff writer

MANILA -- Philippine antitrust authorities have loosened restrictions on mergers and acquisitions in an effort to smooth the way for buyouts that would rescue failing businesses and protect jobs.

The Philippine Competition Commission will now exempt from review mergers and acquisitions valued at less than 50 billion pesos ($1 billion) over a two-year period, up from the original ceiling of 2.4 billion pesos.

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