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(e) levels of import competition;
(t) levels of countervailing power;
(g) effective remaining competition; and
(h) the probability that the enterprises in the market will after the merger behave
competitively or cooperatively (i) the ability of national industries to compete in international markets;
(ii) the competitiveness of a particular industrial sector or region in Swaziland; and
(iii) the ability of small enterprises to become competitive.
General merger requirements
18. (I) Where a merger is proposed, anyone of the primary enterprises involved in the merger, or
their duly appointed representatives shall file a joint application to the Commission for
authorization of the merger in terms of regulation 20 of these Regulations.
(2) A party to a non-consensual merger may apply to the Commission for the consideration of
that merger.
Joint merger application
19. A joint application shall be made in a single filing by one of the primary enterprises or their
duly appointed representative, and shall include (a) for each of the primary enterprises, Substantive Statement on the merger in Form 3,
which in each case (i) satisfies all the filing instructions set out in that Form;
(ii) has attached to it all the documents required by those instructions; or
(iii) is accompanied by the requisite filing fee in the appropriate amount; or
(iv) if paid separately or earlier, is accompanied by proof of payment which is
acceptable to the Commission.
Non consensual mergers
20. (I) A transaction is non-consensual if (a) the primary firm filing the joint merger notification first made an offer to purchase the
target firm to the management of that firm which was rejected in writing; or
(b) the management of the target firm has publicly stated that it does not support the offer
made by the primary acquiring firm; or
(c) the management of the target firm �has not responded to an offer made by the acquiring
firm within a reasonable time, which shall not be less than 10 days from the date of the
offer.