Answer ... The most important tip is to be prepared. Do the analysis early as to where filings may be required and start preparing any notifications well in advance of the transaction being entered into.
Mergers raising serious issues will almost always require input from economists to assist with market definition and analysis and development of the arguments. The CMA employs its own economists to assess mergers and will expect the parties to have their own advisers on these issues.
Parties should also be aware that dealing with a Phase 2 merger inquiry is highly onerous, and that one or more members of management may have to work on the case full time to deal with the CMA’s requests for information.
Where filings are being made in multiple jurisdictions, ensure consistency of approach. The authorities do talk to one another and any disparities between arguments made in different jurisdictions could undermine the parties’ case.