Since the end of the Brexit transition period on 31 December 2020, the UK's merger control regime was untangled from the EU's one-stop shop, and has therefore operated as a standalone merger control regime in parallel to the EU. 12 months on, we have outlined 6 key trends in UK merger control below, and the impact of those trends for corporate transactions.
- The CMA is likely to remain an active merger control authority
- Following Brexit, the CMA has been taking an independent line when investigating transactions in parallel with the European Commission, and we would expect that to continue
- The CMA will continue to take an expansive view of the scope of its jurisdictional tests
- New jurisdictional tests may be introduced, together with a new de minimis regime
- The CMA is likely to continue to pursue enforcement action and issue fines for procedural breaches
- Expect cooperation between the CMA and the UK's new national security body, the ISU