The UK Competition and Markets Authority (CMA) has issued a draft guidance paper (Draft Guidance) concerning the application of UK competition law in the event that the UK withdraws from the EU in a "no-deal" Brexit scenario. Contained in the Draft Guidance are specific guidelines on the impact of a no-deal Brexit on companies currently contemplating or pursuing M&A transactions. The Draft Guidance underlines the potentially serious implications for merging parties who expect to notify their transactions to the European Commission under the EU Merger Regulation (EUMR) over the coming weeks and months. While the UK's withdrawal from the EU has long been expected to raise some issues around the potential for overlapping merger control reviews to be triggered in the EU and UK, the
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The UK Competition Authority issues its draft guidance concerning the application of competition law in the event of a no-deal Brexit scenario
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