The CMA has launched a consultation on proposed changes to its mergers guidance on jurisdiction and procedure and its mergers notice template. The consultation is the CMA's latest move to implement the UK government's "strategic steer", and embed the "4Ps" (pace, predictability, proportionality and improved process) into practice.
There are four key takeaways.
First, to speed up reviews, the following key performance indicators (KPIs) apply to all cases where the draft initial merger notice has been submitted after June 20, 2025:
- Pre-notification will typically be no longer than 40 working days—provided the merger parties have submitted a minimum level of information, they do not request a longer period, and the CMA does not disapply the KPI.
- For "straightforward cases,", the CMA aims to issue clearance decisions by working day 25 (down from 35 working days).
Second, the CMA is proposing additional engagement at the start of pre-notification:
- A "teach-in" session for the case team and senior staff followed by informal update calls.
- Publication of a case webpage, including an invitation for market feedback, in all but exceptional cases.
Third, ahead of the government's imminent consultation on legislative revisions to the material influence and share of supply tests, the CMA provides welcome clarity on its current approach to these notoriously expansive jurisdictional tests. For example:
- It sets out the main factors that are likely, individually or collectively, to give rise to material influence (including the level of shareholding held, the right to appoint members to the board, and the existence of financial, commercial and/or consultancy agreements).
- It confirms the metrics that the authority will typically focus on when determining whether the 25% share of supply threshold is met, and the goods and services it will consider.
Finally, the CMA clarifies that it is less likely to prioritize for investigation deals that concern exclusively global (or broader-than-national) markets. Instead, it may "wait and see" if action taken by other international authorities can resolve UK concerns so as to reduce the potential burden of duplicative investigations.
Read our alert for more detail on the CMA's proposed amendments as well as the impact the changes will likely have in practice.
We will keep you updated on how the CMA's approach to merger control enforcement evolves.
We will also report as and when legislative and regulatory proposals set out in the UK government's Modern Industrial Strategy materialize. In addition to the consultation on potential reforms to the merger control jurisdictional tests mentioned above, the government plans to explore possible updates to the UK's investment screening framework. It will consult on amendments to the 17 sensitive areas of the economy subject to mandatory notification, introduce new exemptions, and clarify guidance, all with the aim of providing certainty to investors.
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