Category Archives: UK Merger Insights

UK Merger Insights: 2023 No.4

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Here’s a selection of some of the best articles I have read recently that are relevant to UK merger control………….

Unsurprisingly – a number of these are about the CMA’s much-discussed decision regarding the Microsoft/Activision deal………..

To date, it’s been rare to come across commentary about this deal that a) accurately describes the CMA process, b) gives a balanced portrayal of the CMA’s decision and c) transparently describes the authors’ involvement with, or interest in, the case. If you know of any – please feel free to comment below.

1. Changes to UK Merger Control

Bill Batchelor and colleagues summarise here the planned forthcoming changes to CMA jurisdictional thresholds and investigation procedures.

2. Setting Out The Stall

Alex Hern presents the logic behind the CMA’s prohibition of the Microsoft/Activision deal. Link here

3. War Of The Words

In this piece, Reece Goodall looks at the war of words that broke out following the CMA’s announcement prohibiting the Microsoft/Activision deal

4. Vive La Difference

Here Jacob Parry examines why the CMA and the EC came to different decisions regarding the Microsoft/Activision merger.

5. A Very Costly CMA Merger Prohibition

Paul Sawers looks at the Meta/Giphy case and how costly a CMA merger prohibition can be. Link here.

UK Merger Insights: 2023 No.3

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Here’s a selection of some of the best articles I have read recently that are relevant to UK merger control………….

1. Overseas Takeovers

In this article Duncan Lamont looks at whether overseas takeovers are a threat to the future of the UK stockmarket.

2. Spirited Mergers

Here’s an important sector to think about……Peter Francombe looks into the outlook for Scotch Whisky mergers in this article.

3. Private Equity Challenges

Rebecca Ward and colleagues look at the increasing challenges facing private equity investors when it comes to merger control. Here’s the link.

4. Faster CMA Merger Remedies?

In this piece Carlo Sushant Chari and Joel Bamford look at the new Phase 2 merger remedy process.

I also talked about it in this post.

5. Roll up, Roll up

Wahida Ahmed says that the CMA is giving more scrutiny to serial acquisitions, in this article.

6. How Harmful Are Killer Acquisitions?

In this paper Mark Ivaldi and colleagues consider the evidence behind theories about so-called ‘killer acquisitions’

Please click here and here for my previous selections this year.

UK Merger Insights 2023 No. 2

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Here’s a selection of some of recent articles and speeches relevant to UK merger control……………..

1. Mark-ups

Here Ian Small examines what mark-ups tell us about competition and merger control in Europe.

2. Cerelia/Jus-Rol

Christopher Hutton and colleagues take a look at the Cerelia/Jus-Rol decision – link here.

For more on why this case wasn’t as unusual as it might seem, see this post from my blog.

3. Tougher Merger Control Ahead?

In this article Ninette Dodoo and colleagues envisage tougher merger control worldwide. Which points apply to the UK?

4. Too Interventionist?

CMA Chief Executive Sarah Cardell rebuts criticisms of the CMA’s approach to merger control in this speech. I’ll be looking at some of the points she discusses in forthcoming blog posts

5. The Power Of Competition

In this speech, new CMA Chairman, Marcus Bokkerink, draws on his 30 years’ business experience to reflect on what competition means and the role of the CMA.

Click here if you would like to see my previous selection of articles

UK Merger Insights: 2023 No.1

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Here are links to some of the most insightful merger control articles I’ve come across so far this year:

1.

In this article Scott Sher discusses a number of matters that are highly pertinent in the UK as well as in the US, the focus of the piece.

2.

Will pressure on disposable incomes affect the CMA’s priorities in terms of which mergers it looks at?

James Baker and colleagues look at this question here.

3.

What can we learn from the two fast-track CMA Phase 2 remedy cases to date?

Sofia Platzer and colleagues take a look here.

4.

The future of merger remedies.

In this piece John Davies reports on the main themes of a recent conference on the subject

5.

The first year of the National Security and Investment Act

Kate Kelliher and Marc Israel review what happened in 2022. Link here.

Please feel free to add a comment or press the ‘like’ button if you’d like more of these occasional round-ups.