The European Commission has launched a public consultation of its Horizontal and Non-Horizontal Merger Guidelines. Framed as a "comprehensive and ambitious" review, the Commission is exploring how to incorporate wider policy...more
5/27/2025
/ Antitrust Provisions ,
Competition ,
Consultation ,
EU ,
European Commission ,
Innovation ,
Merger Controls ,
Merger Reviews ,
Mergers ,
Popular ,
Regulatory Reform ,
Sustainability
The UK’s Competition & Markets Authority (CMA) is taking significant steps to evolve its approach to merger control, introducing a new Mergers Charter and launching a review of its merger remedies framework. These initiatives...more
Our latest edition explores the top merger control trends across the EU, US, UK, Middle East and Australia, and the outlook for 2025.
EU and US merger control enforcement: quo vadis?
In the EU, Executive Vice...more
1/20/2025
/ Acquisitions ,
Antitrust Division ,
Artificial Intelligence ,
Competition ,
Department of Justice (DOJ) ,
EU ,
European Commission ,
Federal Trade Commission (FTC) ,
Global Dealmaking ,
Member State ,
Merger Controls ,
Mergers ,
Technology Sector ,
UK
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
After years of planning and debate, the UK's Digital Markets, Competition, and Consumers Act will come into force on 1 January 2025. This landmark legislation provides expanded powers to the CMA in respect of merger control,...more
The third Annual Report on the UK's National Security and Investment Act provides some valuable insights into the review process and how it continues to develop. We explore some of the key metrics and trends and what they...more
In yet another twist in the Illumina/Grail saga, Advocate General Emiliou has challenged the European Commission's approach to calling-in certain non-reportable transactions for review. The final judgment will be delivered by...more
The EU Foreign Subsidies Regulation took effect on 12 July 2023 to much fanfare. We take a look at the top five things PE funds need to know when considering acquisitions with a European footprint.
The Foreign Subsidies...more
There have been a number of developments in merger control in 2020 and Q1 2021. Some are related to the repercussions of the COVID-19 pandemic, while others are borne out of the ambitions and changes sought by individual...more
On 11 November 2020, the government announced the details of its proposals for national security-based review of investments in the UK, in the form of the National Security and Investment Bill ("NSIB").
Protectionism is a...more
One-
The UK has championed an open and dynamic market economy, including foreign direct investment ("FDI") into the UK, ever since political theorists such as Adam Smith argued the benefits of free trade over mercantilism...more
FDI restrictions have been on the political agenda in Europe and further afield for at least the past year, and following the outbreak of COVID-19 and the changed economic landscape, the approach in jurisdictions across the...more
7/20/2020
/ Biotechnology ,
Coronavirus/COVID-19 ,
Foreign Acquisitions ,
Foreign Adversaries ,
Foreign Direct Investment ,
Foreign Investment ,
Global Dealmaking ,
Investors ,
Medical Research ,
Mergers ,
National Security ,
Political Parties ,
Reputation Management
On 17 June 2020, the European Commission published a White Paper seeking views on three powerful new tools to control the acquisitions and activities of foreign subsidised companies in the EU:1 (i) a general ex post control...more
6/19/2020
/ Acquisitions ,
Antitrust Provisions ,
EU ,
European Commission ,
Foreign Direct Investment ,
Foreign Investment ,
Foreign Subsidiaries ,
Merger Controls ,
Mergers ,
Public Consultations ,
Screening Procedures ,
WTO
Four years after the European Commission (“EC”) thwarted Hutchison’s attempt to consolidate the UK mobile telecoms market through its planned acquisition of O2, the General Court yesterday dealt a crushing blow to the...more
Prior to the outbreak of the COVID-19 pandemic, there had been a growing and global trend of established Western economies increasingly scrutinising foreign investment in key sectors. FDI restrictions have been on the...more
5/29/2020
/ Belt and Road Initiative (BRI) ,
Blocked Mergers ,
China ,
Coronavirus/COVID-19 ,
Critical Infrastructure Sectors ,
EU ,
Foreign Acquisitions ,
Foreign Direct Investment ,
Foreign Investment ,
Member State ,
Mergers ,
National Security ,
National Security Review Proceedings ,
Non-EU Investors ,
Popular
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
As the UK departs the European Union, the CMA – the UK competition regulator – is facing a transformation in its mandate. White & Case considers how the CMA will approach its workload during and after the Transition Period...more
2/1/2020
/ Anticompetitive Behavior ,
Antitrust Investigations ,
Cartels ,
Competition Authorities ,
Court of Justice of the European Union (CJEU) ,
EU ,
EUMR ,
European Commission ,
Expiration Date ,
Merger Controls ,
Mergers ,
Parallel Proceedings ,
Transitional Arrangements ,
Treaty on the Functioning of the European Union (TFEU) ,
UK ,
UK Brexit ,
UK Competition and Markets Authority (CMA) ,
Withdrawal Agreement
CMA investigation into Amazon/Deliveroo and Paypal/iZettle deals highlights the regulator's increased interest in technology transactions....more
7/15/2019
/ Acquisitions ,
Amazon ,
Digital Markets Strategy ,
Initial Enforcement Order (IEO) ,
Killer Acquisitions ,
Merger Controls ,
Mergers ,
PayPal ,
Technology Sector ,
UK ,
UK Competition and Markets Authority (CMA) ,
UK Regulatory Reforms
This Alert provides an update with respect to foreign direct investment ("FDI") regimes in certain key jurisdictions since the Firm's comprehensive FDI Guide, National Security Reviews 2018, was published in November 2018....more
4/29/2019
/ Australia ,
CFIUS ,
China ,
EU ,
European Council ,
Export Control Reform Act (ECRA) ,
Federal Pilot Programs ,
FIRB ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Direct Investment ,
Germany ,
Japan ,
Mergers ,
National Security Review Proceedings ,
U.S. Commerce Department ,
UK ,
United States
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