United Kingdom: M&A/Private Equity

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Article
Competition Law Update - June 2026
This newsletter examines significant competition law developments across the UK and EU, including the European Commission's draft Merger Assessment Guidelines that modernize analytical frameworks and give greater weight to merger efficiencies. The edition also explores landmark rulings on no-poach agreements in sports, updates to technology transfer regulations, and the CMA's evolving approach to digital markets enforcement and consumer protection.
United Kingdom Anti-trust
M
Macfarlanes LLP
Article
Finalised Guidance On Reformed Investment Manager Exemption Published
HMRC has published final guidance on the reformed UK investment manager exemption (IME), introducing significant changes that broaden its scope and remove the problematic 20% test. The updated guidance clarifies how the exemption applies to transparent funds and carried interest arrangements, providing crucial certainty for non-resident investors and UK asset managers navigating the country's tax regime.
United Kingdom Tax
TS
Travers Smith LLP
Article
The Year In UK Mergers: Trends And Highlights From 2025/26
The CMA's merger outcomes data for 2025/26 reveals a continued evolution toward more targeted and proportionate enforcement, with Phase 1 decisions at an all-time low while unconditional clearances rise significantly. Despite fewer formal investigations, the authority maintains robust scrutiny through record-high Briefing Paper submissions, demonstrating selective intervention in transactions that genuinely raise competition concerns.
United Kingdom Anti-trust
M
Macfarlanes LLP
Article
UK Pensions: What’s New This Week? May 5, 2026
The UK pensions landscape is undergoing significant transformation with the Pension Schemes Act 2026 receiving Royal Assent, introducing sweeping changes from DB surplus payments to DC consolidation frameworks. New legislation also targets salary sacrifice arrangements exceeding £2,000 annually, while TPR unveils expectations for multi-employer CDC schemes and dashboards guidance addresses operational challenges.
United Kingdom Employment
AO
A&O Shearman
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