"Antitrust laws" are the various laws designed to avoid the creation of trusts (also called cartels) monopolistic situations with a view to ensuring a minimum degree of healthy competition per Market. Large M&A transactions in most countries are analysed by antitrust authorities which can refuse or approve the transaction, frequently specifying the Assets to be disposed of, in order to avoid monopolistic situations in one or several Markets (regional and/or by business lines). Price fixing is also prohibited by antitrust laws: it refers to an illicit and secret agreement between several companies in the same sector, to maintain prices artificially high.

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