UK Merger Stats – 2020 Quarter 2

For those of you interested in UK merger control here are some headline facts and figures from the second quarter of the year:

 Only nine Phase 1 cases opened – just over half the average number for previous years

Fourteen Phase 1 decisions announced (the joint lowest Q2 number to date), comprising

  • 7 unconditional clearances
  • 1 case cleared through remedies
  • 3 references to Phase 2
  • 3 references to Phase 2 subject to undertakings being offered and accepted

This is the highest Q2 intervention rate to date

Here’s a table showing the 20 latest Phase 1 decisions up to June 29th…

  • Red = reference to Phase 2,
  • Grey: reference to Phase 2 subject to acceptable undertakings being offered
  • Orange: remedies in lieu of reference
  • Green: unconditional clearance

Please click on the table if you wish to focus and enlarge the detail…

Fourteen Phase 1 decisions published, including

  • Bringing mergers of GP practices into the merger control orbit
  • A reminder that no questions in response to a 5-page informal letter does not rule out the prospect of a Phase 1 investigation later.

Four Phase 2 cases completed, comprising

  • 2 cases abandoned
  • 2 prohibitions

Two Phase 2 Provisional Findings

  • Both for the same case ! – Clearance with revised reasons

Summary:

A low level of activity but a very high level of intervention to remedy or prohibit mergers.

And finally….

Here is a chart showing the overall pattern of CMA merger decisions in its first six years.