The
Competition and Markets Authority is consulting on changes to its mergers jurisdictional
and procedural guidance (CMA2).
The
main changes include:
·
Opportunities
for merger parties to engage directly with the CMA early in the process.
·
An
"interim report" will be published earlier in the process, replacing
the provisional findings report and setting out the CMA's provisional
assessment of the impact of the merger on competition.
·
Earlier
without prejudice remedy discussions between the CMA and merger parties.
The
issues statement will be abandoned and, instead, the CMA will invite
submissions on the Phase 1 decision. greater opportunities for economic experts
to engage with the CMA's experts.
There
are other changes to the revised guidance to reflect developments in the CMA's
practice and in case law. These mainly relate to confidentiality and disclosure.
While
the reforms reflect some important streamlining of the CMA’s merger review
process, the CMA has declined calls to grant merger parties full access to
evidence provided by third parties.
The
CMA has also published for consultation a draft of the proposed new Phase 2
Remedies Form and a revised draft Template Waiver.
A
revised draft Merger Notice is also available for comment.
Interested
parties should provide responses to the consultation by 8 January 2024.
https://assets.publishing.service.gov.uk/media/655788a4046ed400148b9b2f/Consultation_document_Nov23.pdf
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