Competition Markets Authority
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In addition to this quick guide, the CMA has also published Mergers: guidance on the CMAs jurisdiction and procedure (CMA2) which provides fuller guidance on the jurisdictional approach and procedures that it will follow when exercising its merger control functions under the EA02, as amended.
The CMA has also published Merger Assessment Guidelines (CMA129) which provide a fuller explanation of the substantive approach of the CMA to its analysis when investigating mergers.
2 January 2025: updated guidance published
The guidance has been updated to reflect the changes to the mergers regime made by the Digital Markets, Competition and Consumers Act 2024 (DMCCA24) which commenced on 1 January 2025.
The revised guidance takes effect on 1 January 2025 and applies to all merger cases subject to the subject to the transitional provisions in the Digital Markets, Competition and Consumers Act 2024 (Commencement No.1 and Savings and Transitional Provisions) Regulations 2024 (SI 2024/1226) summarised below.
Summary of transitional provisions
The parts of the revised guidance dealing with the DMCC Act changes related to jurisdiction (paragraph 2.2) will apply to (i) completed mergers where completion took place on or after 1 January 2025 and (ii) anticipated mergers where the formal Phase 1 investigation (ie the start of the 40 working day initial period) commences on or after 1 January 2025. The March 2021 guidance (paragraph 2.2) will continue to apply to (i) completed cases where completion took place prior to 1 January 2025, (ii) anticipated cases where the formal Phase 1 investigation (ie the start of the 40 working day initial period) commenced prior to 1 January 2025.
The parts of the revised guidance dealing with the new statutory phase 2 fast track process (paragraphs 2.8 and 2.9) will apply to mergers where the formal Phase 1 investigation (ie start of the 40 working day initial period) commences on or after 1 January 2025.
The parts of the revised guidance dealing with the extension of the phase 2 timetable by mutual agreement between the CMA and the merger parties (paragraph 2.9) will apply to mergers referred to Phase 2 on or after 1 January 2025. The extensions explained in the March 2021 guidance (paragraph 2.8) will continue to apply to all cases referred to Phase 2 prior to 1 January 2025.