News & Analysis as of

Mergers New Guidance United Kingdom

A&O Shearman

UK merger control to see faster reviews and clarified jurisdictional tests

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The Competition and Markets Authority (CMA) has launched a consultation on proposed changes to its mergers guidance on jurisdiction and procedure (CMA2) and its mergers notice template....more

White & Case LLP

Corporate Governance Key developments

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Updated Principles of Remuneration - On the 9 October 2024, the Investment Association (‘IA’), a trade body for UK investment managers, published the Principles of Remuneration (the Principles). IA members are...more

Skadden, Arps, Slate, Meagher & Flom LLP

PRA and FCA Offer New Guidance on How Changes in Control Will Be Assessed

On 1 November 2024, the UK Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) published a joint policy statement (PS 18/24) on the prudential assessment of acquisitions and increases in control. The...more

White & Case LLP

Navigating the New UK Antitrust Landscape

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The UK's Competition and Markets Authority (CMA) has published a suite of guidance documents that set out how it intends to exercise its powers under the Digital Markets, Competition, and Consumers Act (Act). The Act, which...more

A&O Shearman

Practical tips for large organisations to ensure reasonable procedures to prevent fraud are in place

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We distil key practical takeaways from the UK Government’s official guidance on the corporate criminal offence of failure to prevent fraud (the Guidance). Businesses and compliance teams will be working to review and...more

BCLP

Foreign Direct Investment: Key Recent and Future Developments in Europe and the US

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At a time of significant geopolitical challenges, many jurisdictions are looking at their investment screening regimes to ensure that they can adequately safeguard national security and public order. Within this context,...more

McDermott Will & Emery

Antitrust M&A Snapshot - Q3 2023

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UNITED STATES - Proposed Merger Guidelines Outline Fundamental Change of Approach to Merger Investigation and Enforcement - On July 19, 2023, the Federal Trade Commission (FTC) and the US Department of Justice (DOJ)...more

Latham & Watkins LLP

Restrictive Covenant Crackdown Poses New Challenges for M&A Deal Teams

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Corporates and deal teams should pay careful attention to drafting non-competes and other restrictive arrangements as UK, EU, and US regulators step up enforcement. Regulators on both sides of the Atlantic are placing...more

A&O Shearman

Antitrust and information exchange: a new framework for analysis in the EU and UK

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The European Commission (EC) and the UK Competition and Markets Authority (CMA) have published new guidance on the assessment of cooperation between competitors. For the EU, this is contained in revised Guidelines on...more

McDermott Will & Emery

Antitrust M&A Snapshot - Q4 2022

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DOJ Sees First Merger Win After String of Losses - Penguin Random House’s planned acquisition of rival Simon & Schuster was blocked by Judge Florence Pan of the US District Court for the District of Columbia on November...more

Dorsey & Whitney LLP

The UK National Security and Investment Act 2021: A New Regime For Acquisition and Investment Transactions: Update

Dorsey & Whitney LLP on

There have been a number of key developments in the evolution of the UK’s national security regime since our e-bulletin earlier this year (UK to Adopt New Powers Over M&A Activity To Protect National Security). First and...more

Skadden, Arps, Slate, Meagher & Flom LLP

Revised Merger Assessment Guidelines Codify UK Interventionist Approach to Dynamic Markets

The U.K.’s Competition & Markets Authority (CMA) has released new merger assessment guidelines that confirm the U.K. regulator’s intensified approach to merger control.1 The guidelines largely codify the CMA’s recent output,...more

Akin Gump Strauss Hauer & Feld LLP

U.K. Competition & Markets Authority Publishes Important Brexit Guidance

In anticipation of the United Kingdom’s exit from the EU on December 31 (‘Brexit’), the Competition and Markets Authority (the ‘CMA’) published its guidance on the expected changes to U.K. competition law regime. The guidance...more

White & Case LLP

The CMA publishes new guidance on merger control in a time of COVID-19: business as usual?

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The CMA has published new guidance on its approach to merger assessments during the Coronavirus pandemic, confirming that it does not intend to change either merger control assessments or deadlines, despite the outbreak....more

Latham & Watkins LLP

CMA Issues New Guidance on Merger Assessment During COVID-19 Pandemic

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The guidance includes a refresher on “failing firm” defence claims, for which the CMA will maintain a high bar. On 22 April 2020 the UK’s Competition and Markets Authority (CMA) published guidance on its assessment of...more

White & Case LLP

The CMA issues guidance on requests for internal documents in merger investigations

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Competition authorities around the world typically place considerable weight on parties' internal documents when assessing the potential effects of a merger. Such documents, many of which can pre-date the companies' decision...more

Sheppard Mullin Richter & Hampton LLP

New Lower UK Thresholds for Scrutiny of Mergers Affecting National Security

Following the publication and consultation on a green paper earlier this year the UK Government has now published new takeover rules, adding new thresholds to the relevant provisions of the UK Enterprise Act giving the...more

Jones Day

UK Changes Merger Control Regime for Foreign Takeovers

Jones Day on

The Situation: New legislation came into force on 11 June 2018, allowing the UK Government to scrutinise a wider range of mergers that may raise public interest or national security issues. The Context: This is the outcome...more

BCLP

CMA’s new guidelines give clarity for smaller and non-overlapping mergers

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On 5 September 2017, the CMA released new guidance regarding its Mergers Intelligence Function and the informal guidance it can give parties who are considering whether to submit their merger for formal deliberation by the...more

BCLP

New Guidelines on Small Market Mergers sees CMA Set to Clear Larger Number of Transactions

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The CMA published on 16th June its final version of its Merger De Minimis Guidelines following earlier consultation with stakeholders. The Guidelines set out the criteria which the CMA will have regard to when exercising its...more

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