UK Merger Insights: 2023 No. 5

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

1. Spend, Spend, Spend

How much did the CMA spend on the first part of its investigation into the Microsoft/Activision merger? In this article, Justin Cash looks at the numbers.

2. The Dye Is Cast

Ben Lask and Thomas Sebastian consider here the CAT decision regarding the Dye and Durham merger.

3. What Is ‘Dynamic Competition’?

Andrew Swan and colleagues discuss the matter here.

4. More Hype Than Reality?

In this paper Marc Ivaldi and colleagues examine whether so-called killer acquistions are as common or problematic as merger control authorities seem to think.

5. Rarity Value

Here Stephen Smith and colleagues present a rarity – a balanced assessment of the long-running Microsoft/Activision saga. Do let me know if you’ve spotted others.

6. Tougher Than The CMA

Nicole Kar and colleagues look here at the Bookings/Etraveli case, cleared by the CMA but prohibited by the EC.

Strange that noone has been moaning about the ‘divergence’ between the two agencies in this case, unlike other ‘divergent’ examples. I wonder why. Thoughts?

UK Merger Insights: 2023 No.4

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.