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
A low level of activity but a very high level of intervention to remedy or prohibit mergers.
Here is a chart showing the overall pattern of CMA merger decisions in its first six years.