commiss decis novemb relat proceed pursuant articl eec treati case iv warner lambert gillett iv bic gillett english dutch text authent eec commiss european commun regard treati establish european econom commun regard council regul februari regul implement articl treati amend act access spain portug articl thereof regard applic find infring submit februari march pursuant articl regul warner lambert compani bic sa regard notif februari pursuant articl regul agreement gillett compani eemland hold nv undertak concern gillett compani eemland hold nv opportun make view object rais commiss pursuant articl regul commiss regul eec juli hear provid articl council regul heard warner lambert compani bic sa pursuant articl regul consult advisori committe restrict practic domin posit fact decis concern infring articl eec treati aris sale stora kopparberg bergslag ab wilkinson sword wet shave busi commun unit state america eemland hold nv rest world gillett group hereinfaft call gillett involv agreement gillett eemland substanti invest gillett eemland complaint februari commiss receiv complaint warner lambert compani sale wilkinson sword wet shave busi warner lambert alleg transact relat agreement involv gillett constitut infring articl eec treati part gillett eemland infring articl part gillett complaint relat matter file behalf bic sa march notif gillett compani notifi agreement gillett invest relationship eemland request neg clearanc exempt notif receiv februari parti stora kopparberg bergslag ab stora swedish compani largest forest product compani europ diversifi forest product area acquisit swedish match ab consum product group swedish match ab consist shave product toiletri essenti shave product manufactur sold wilkinson sword trade mark match includ brand name swedish match bryant dispos lighter includ cricket feudor brand ii eemland hold nv eemland netherland compani form februari util transact previous trade compani chang eemland manag servic bv swedish match ab adopt present iii gillett compani base unit state america parent compani gillett busi interest worldwid develop manufactur sale wide rang person care product includ manufactur sale shave product contribut half group worldwid profit iv parti equiti investor eemland messr rossi gabrielsson stenstroem gruber manag wilkinson sword busi morgan capit corpor member morgan bank group procurita mbo invest ab forsaekringsbolaget spp oemsesidigt spp insur aktieselskabet kjoebenhavn handelsbank copenhagen bank livsforsaerkingsaktiebolaget skandia scandia insur spira invest ab warner lambert compani warner lambert base unit state america diversifi research manufactur market prescript pharmaceut counter health care product confectionari product product activ wet shave market schick brand razor blade vi la société bic sa bic base franc activ wet shave market brand razor blade product product decis refer wet shave product core product razor blade essenti type tradit doubl edg blade sold insert fix razor head system blade contain plastic cartridg insert separ razor handl dispos razor includ razor doubl edg system blade market market concern wet shave market consist razor razor blade dry shave consid wet shaver suffici close substitut wet shave product form part market exclud market hair remov product hair remov cream lotion wax electr depil close substitut wet dry shave product form separ market share total sale wet shave product account product type refer recit vari member state sale tradit doubl edg blade declin commun consum switch system blade dispos razor price differ type blade divis market type blade consid volum commun segment show doubl edg blade account market system blade cartridg account dispos razor remain volum figur doubl edg blade system blade dispos razor profit margin achiev shave product vari product type dispos razor achiev lowest margin doubl edg blade high margin product system blade achiev highest margin continu real growth blade usag commun market growth gener manufactur invest innov higher margin system segment major produc shave product commun largest produc world gillett wilkinson sword trade mark eemland schick trade mark warner lambert bic acknowledg eemland gillett price leader commun result strong market posit lessen extent price competit market relev geograph market purpos decis decid nation market member state commun form market market share data tabl page show gillett strong posit commun market share volum commun wilkinson sword smaller market share suppli volum bic similar market share volum term lower share concentr low margin dispos razor fourth brand schick suppli half wilkinson sword share market gillett market leader member state greec bic higher market share measur volum gillett lowest market share unit kingdom greec portug highest market share denmark volum spain volum wilkinson sword strongest british german french market sale commun unit state america account wilkinson sword product volum sale countri cheaper lower margin product highli concentr market exhibit consider barrier entri barrier consist signific economi scale product level import advertis consider resourc expertis establish manufactur eemland express view realist forese futur exist manufactur wet shave product expect establish product facil commun market case view consider invest requir set viabl product facil cost advertis research develop establish distribut network razor blade factori produc approxim million blade year econom viabl warner lambert estim requir invest million eemland opinion minimum competit volum million blade product segment produc cost million million set research develop cost razor requir larg scale invest gillett report spent estim million develop latest product gillett sensor spent million advertis campaign north america europ bring system market high level invest suggest barrier enter wet shave market consider limit scope make de novo entri market purchas shelf product design equip manufactur assembl packag blade mould cartridg product aim sale privat label label avoid heavi advertis expenditur modest growth label sale account blade sold commun eemland estim surpris competitor enter market western europ year market characterist princip mean increas market share advertis acquisit competitor substanti research develop lead improv type product agreement seri agreement sign decemb stora sold consum product divis eemland turn sold wilkinson sword shave product busi european commun unit state america gillett eemland subsequ sold match lighter busi part stora consum product divis parti total consider approxim million market share wet shave product brand tabl oj exclud american busi arrang eemland retain wet shave product busi princip wilkinson sword brand commun unit state america gillett plai lead role arrang purchas stora consum product divis achiev mean highli leverag bui eemland shell compani bui financ number investor includ gillett subsidiari gillett uk limit gillett reason particip financ eemland acquir wilkinson sword trade mark wet shave activ countri commun eemland fund mixtur equiti loan capit equiti consist ordinari share carri vote right convert loan stock gillett hold loan stock paid million repres issu equiti quasi equiti capit vote right equiti holder morgan total equiti vote right group scandinavian investor hold vote right manag equiti vote right gillett loan stock entitl interest level dividend receiv loan stock convert share capit immedi prior dividend payment date gillett equiti interest confer vote right represent board represent sharehold meet access intern inform gillett entitl nomin director board eemland undertak exert attempt exert influenc board member board circumst gillett acquir vote right eemland convers loan stock ordinari share wind eemland list ordinari share compani sale compani equiti parti debt structur eemland consist form debt subordin debt senior debt loan note stora subordin debt form loan made institut approxim million loan made gillett approxim million interest libor capit paid debt repaid senior debt consist loan provid syndic bank approxim million repay period year senior debt expect repaid part proce sale match lighter busi order overcom minut difficulti arrang sale stora agre accept part consider form junior subordin interest free loan note eemland million gillett agre pai stora million reflect fact loan note carri interest reassign eemland american busi gillett made loan eemland million carri interest rate annum sum aggreg consider paid gillett eemland intellectu properti manufactur distribut agreement hereinaft call intellectu properti agreement commun sale agreement attribut american busi gillett loan repres total financ eemland repaid senior debt loan institut refer equiti holder agreement amend restrict dispos share gillett acquir pre emption right except equiti holder entitl dispos hold prior januari dispos equiti date subject pre emption right scandinavian investor give refus member group notwithstand right scandinavian investor inter se dispos equiti subject pro rata pre emption equiti holder gillett allow seek parti purchas entitl approv ordinari sharehold morgan capit corpor reason american bank regul equiti holder wish dispos total equiti eemland procur equiti holder opportun dispos pro rata proport hold excess term investor group holder equiti exclud purpos gillett obtain stock exchang list ordinari share event gillett option bui find purchas equiti investor group price propos obtain list gillett exercis option ensur ident offer made equiti holder support manag investor group exclud purpos equiti held gillett sell equiti event gillett option bui find purchas equiti parti sale price gillett exercis option ensur ident offer made equiti holder similarli declin option sell group ensur ident offer made equiti holder includ gillett sell equiti right subparagraph waiv side letter equiti holder concern except gillett agreement eemland sell parti busi asset amount substanti part wet shave busi asset offer busi asset gillett price term gillett dai accept offer find altern parti purchas event eemland increas capit issu share equiti holder includ gillett call share suppli arrang gillett eemland intellectu properti agreement januari temporari suppli agreement sign juli eemland agre suppli wilkinson sword brand product gillett market commun unit state america agreement arm length term ran period year expir januari gillett continu purchas eemland ad hoc basi smaller volum wilkinson sword product eemland assign oversea product site brazil manau annual product approxim million blade zimbabw annual product approxim million blade gillett term commun sale agreement intellectu properti agreement eemland agress sell wilkinson sword wet shave activit intellectu properti subsist commun gillett subsequ american agreement eemland retain american busi divis wilkinson sword trade mark eemland agre suppli product unter wilkinson sword trade mark commun unit state america gillett similarli agre suppli product commun unit state america includ oblig knowingli sell product bear mark suppli deliveri insid commun eemland remain free suppli wet shave product commun unit state america label product brand subject restrict intellectu properti acquir stora relat exclus exist busi carri commun unit state america assign gillett subject irrevoc exclus licenc back eemland regist patent design right trademark intellectu properti relat part busi commun unit state america part countri area eemland give gillett exclus benefit intellectu properti commun unit state america parti acknowledg wilkinson sword valuabl intern trade mark respect interest maintain worth gillett acquir option purchas mould di tool suppli gillett arrangemet eemland ceas suppli arrang parti suppli gillett wet shave product wilkinson sword brand parti recogn custom product resel retail commun unit state america adjac countri declar intent resolv problem good faith manner preserv respect busi term agreement gillett agre indemnifi eemland stora investor loss aris anti trust proceed relat european wilkinson sword busi intervent american anti trust author mention agreement conclud depart justic gillett eemland led consent order enter court term order gillett prevent acquir addit interest secur eemland interest exist debt convers exist share vote share acquir asset eemland limit circumst gillett remain free nomin altern purchas entitl event gillett acquir vote right convers exist loan stock give proxi eemland cast vote proport vote cast equiti holder gillett undertak exert influenc eemland eemland insolv insolv risk insolv vote reorgan plan propos support eemland restrict waiv agreement depart justic court ii legal assess articl market concern market wet shave product razor blade razor includ dispos razor gillett occupi domin posit market commun member state clear market share figur tabl recit commun gillett achiev market share volum gillett market member state establish domin posit wet shave market commun market share base reliabl indic strength supplier market view heterogen natur product rang product price comparison gillett market share figur competitor market highlight gillett domin signific competitor market consider gap gillett nearest rival domin reinforc high entri barrier wetshav market examin preced section undertak domin posit special respons conduct impair genuin undistort competit common market particip bui wilkinson sword busi gillett fail discharg special respons abus domin posit gillett instrument arrang bui notwithstand care agreement draft structur wet shave market commun chang creation link gillett lead competitor court justic refer abus domin posit relat behaviour undertak domin posit influenc structur market result presenc undertak question degre competit weaken affect hinder hte mainten degre competit exist market growth competit chang structur wet shave market brought gillett particip arrang advers effect competit market commun gillett involv constitu abus domin posit join case bat reynold hereinaft call philip morri case court justic consid situat compani acquir minor sharehold competitor court abus domin posit aris sharehold compani result influenc compani commerci polici gillett major sharehold eemland largest creditor acquir import pre emption convers right option eemland posit gillett matter manag eemland oblig account factor influenc commerci conduct eemland gillett influenc eemland commerci polici court strike agreement philip morri case import note case court situat sharehold acquir undertak occupi domin posit present case domin undertak gillett acquir substanti sharehold princip competitor similar form agreement present case form agreement philip morri case gillett take minor interest competitor circumst fundamentlli underli philip morri case market domin gillett make exist competit vulner structur gillett acquir equiti eemland disregard simpli absenc vote right usual sharehold right gillett coven exert attempt exert influenc board member board eemland gillett major creditor eemland contribut million mezzanin debt repres debt eemland million equiti loan stock agre make payment stora million accept loan note eemland sum million respect american busi level gillett invest eemland compar eemland estim worldwid turnov million eemland expect ignor financi depend gillett continu avail interest free loan stora eemland enjoi depend gillett willing make payment million stora addit gillett import pre emption convers right option eemland right ensur competitor market warner lambert bic improv competit posit acquisit eemland ensur compani hostil gillett wilkinson effect prevent manag eemland enter merger joint ventur gillett approv medium long term commerci fate eemland extent hand gillett emphas fact eemland sold match lighter divis origin plan depend shave product busi make vulner gillett pre emption right consid barrier entri market held domin undertak unlik philip morri case competitor market advers affect depriv obviou wai challeng gillett market domin take eemland gillett strongest oper market enter relationship strongest competitor acquir direct control eemland relationship enabl gillett exercis influenc eemland commerci conduct potenti effect arrang gillett acquir conting right acquir vote right eemland circumst recit possibl influenc eemland commerci polici gillett convers right influenc eemland decis make respect event trigger convers hamper eemland busi strategi arrang view strategi gillett weaken competit posit eemland correspondingli strengthen gillett posit signific gillett lead role arrang transact shape arrang major consequ transact eemland scope action commun wet shave market consider circumscrib option open compani sever limit burden debt carri limit geograph scope market influenc gillett exercis interest eemland highli leverag natur bui mean eemland weak posit burden debt compani carri eemland abil engag expens advertis campaign sever limit advertis import part manufactur competit strategi market note earlier geograph separ wilkinson sword trade mark eemland sell commun unit state america wilkinson sword brand compani scope expans limit eemland lost market greatest potenti growth weaken competit posit eemland gillett domin player market benefit lessen competit gillett expect account signific equiti hold creditor relationship wilkinson set commun strategi commun wilkinson sword compet brand strateg effect competit commun possibl concentr market segment gillett target top end market system segment oblig wilkinson concentr lower price part market noteworthi gillett intend increas sale sensor razor year launch sale contour razor estim drop unit estim unit gillett hope concentr market segment technolog superior rival leav lower end market wilkinson sword product aspect arrang weaken competit market firstli gillett access exist wilkinson sword technolog relat busi gillett strengthen gillett competit posit occur eemland initi competit advantag gillett respect parti start posit gillett access arrang transact detail financi project wilkinson sword wet shave product includ margin sale estim gillett competit advantag consider amount trade wet shave product member state earlier eemland factori germani unit kingdom suppli wet shave product commun matter refer affect trade member state gillett particip oper involv princip competitor wet shave market commun constitut infring articl articl gillett wilkinson undertak mean articl seri agreement parti agreement mean provis agreement relat oper object effect influenc commerci behaviour eemland wet shave market commun philip morri judgment court justic acknowledg acquisit compani equiti interest competitor serv instrument influenc commerci conduct compani question restrict distort competit market carri busi circumst case gillett acquisit equiti interest eemland suffic find infring articl note accompani number agreement object effect restrict competit gillett eemland relev agreement context commun sale agreement intellectu properti agreement suppli agreement agreement assess context oper geograph separ wilkinson sword trade mark commun neighbour market result agreement lead commerci cooper respect owner trade mark gillett eemland gillett eemland initi manufactur retail ident product trade mark albeit separ geograph area common interest promot product trade mark parti recogn claus intellectu properti agreement quot recit refer worldwid goodwil strong incent compani cooper obviou case neighbour market similar condit competit european free trade associ efta countri commun agreement creat artifici separ market natur border commun commun countri purpos trade shave product advertis packag common side border increas tendenc kei account razor busi part larg bui group regard europ market distinguish commun commun market trade mark share arrang reflect commerci realiti parti oblig cooper relat neighbour market recogn agreement state parti cooper problem aris relat common custom eemland repli commiss statement object acknowledg face difficulti deal custom germani purchas product eemland compani austria deal retail bui group seek conclud arrang europ wide basi matter eemland brought attent commiss repli statement object gillett particip compani neg impact percept wilkinson sword product commun occur eemland eemland competitor trade custom albeit wrongli differ gillett wilkinson sword purchas altern brand gillett wilkinson sword effect competit wet shave market commun suppli arrang gillett eemland provid element cooper parti gillett substanti custom eemland continu purchas wilkinson sword product sale commun factor lead restrict competit wet shave market commun market character small number competitor high barrier entri newli creat relationship competitor result commerci coordin relationship market leader lead competitor lead appreci restrict competit suppli agreement expir januari gillett continu purchas wilkinson sword product eemland ad hoc basi recit reason consid commun sale intellectu properti agreement gillett eemland restrict competit wet shave market commun relat neighbour market europ reason set recit view market polici larg buyer wet shave product bui europ wide basi agreement affect trade member state agreement contraven articl articl agreement question exempt applic articl contribut improv product distribut wet shave product promot technic econom progress allow consum fair share result benefit restrict impos undertak concern indispens attain object gillett claim notif agreement enabl eemland produc distribut product commun produc evid support assert commiss accept agreement question afford undertak concern possibl elimin competit respect substanti part wet shave product commiss reject applic exempt pursuant articl anti trust proceed commiss account final judgment enter court consent gillett eemland note restrict impos parti waiv agreement depart justic court restrict automat expir year restrict accept parti event remedi advers effect arrang commun articl council regul commiss find infring articl eec treati requir undertak concern bring infring end present case gillett abus domin posit particip bui wilkinson sword busi commun creat link domin undertak import competitor result influenc commerci behaviour order termin infring articl gillett withdraw eemland dispos equiti interest interest creditor eemland commiss consid period reason circumst case gillett make arrang dispos matter resolv period independ parti appoint ensur dispos effect gillett eemland contraven articl enter commun sale intellectu properti agreement regard neighbour market europ influenc commerci conduct lead restrict competit commun wet shave market commerci cooper gillett eemland necesit divis wilkinson sword trade mark commun unit state america rest world termin order prevent coordin commerci conduct neighbour geograph market time provid eemland viabl geograph base current futur oper end gillett requir assign eemland wilkinson sword busi czechoslovakia hungari poland turkei yugoslavia efta countri german democrat republ commiss understand eemland retain de facto control busi german democrat republ efta countri pend outcom anti trust proceed adopt decis articl gillett particip purchas wilkinson sword busi stora decis constitut abus domin posit mean articl eec treati articl gillett eemland infring articl eec treati enter commun sale agreement intellectu properti manufactur distribut agreement agreement relat german democrat republ neighbour market europ result commerci cooper gillett eemland commun articl exempt pursuant articl eec treati agreement mention articl refus articl gillett bring infring mention articl end period dispos equiti interest eemland interest creditor eemland fail gillett irrevoc appoint independ parti term approv commiss act gillett behalf make dispos requir decis articl gillett eemland bring infring mention articl end period assign eemland wilkinson sword busi includ trade mark german democrat republ czechoslovakia hungari poland turkei yugoslavia efta countri articl decis address gillett compani prudenti tower build boston massachusett unit state america eemland hold nv egelenburg gk amsterdam netherland brussel novemb commiss leon brittan vice presid oj oj case akzo chemi bv commisson ecr paragraph case michelin commiss ecr paragraph case hofmann la roch commiss ecr paragraph join case bat reynold ecr publish version decis inform omit pursuant provis articl regul eec disclosur busi secret understand text gener inform footnot case violat disclosur requir busi secret case sale intend increas fourfold sale estim fall bat reynold commiss ecr paragraph