The UK's Competition and Markets Authority (CMA) is consulting on changes to the UK merger regime proposed to reduce the burden of investigations into mergers where the parties operate in small markets.
UK merger control process
The UK operates a two-stage merger control regime. Before starting a formal merger investigation, the CMA will conduct pre-notification discussions with the parties, which typically last one to two months. Upon conclusion of these discussions, the CMA opens a formal Phase 1 merger investigation, which lasts 40 working days. If the CMA finds that the transaction may be expected to result in a substantial lessening of competition (an SLC),
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