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Global merger control trends 2022/2023

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White & Case Antitrust/Competition Differentiator known for predicting legal trends before they enter the mainstream, while also analyzing whether or not that trend is relevant to your business.

2022 Global merger control recap

Catching below-threshold mergers in the EU


Toughening merger control enforcement around the world: Results of White & Case’s Global Antitrust Merger StatPak (WAMS) study

Battersea Power Station

Crackdown on procedural infringements


Divergence among regulators

rope knots

2023 Global merger control outlook

New subsidies control


Expansive FDI

data center

Spotlight on non-horizontal mergers in tech and life sciences sectors

Eastern shore of Maryland

Key legislation and judgments coming up in 2023

Record breaker: US M&A 2021

Divergence among regulators

1 min read

Now that the UK has formally left the EU, the risk of divergent views between the EC and the CMA has begun to materialize, notwithstanding the fact that the authorities reach the same conclusion in the vast majority of cases.

The Cargotec/Konecranes merger exemplifies the risks for deal clearance. The transaction was notified to both the EC and the CMA (as well as in the US). Both authorities expressed concerns over the merger's effects on competition. While the EC accepted the proposed remedies and cleared the transaction, the CMA blocked the merger, as it considered the same remedy package was insufficient to address its concerns.

Another example of divergent approaches is Meta/Kustomer, where the EC's Phase 2 investigations did not discourage the CMA and the German competition authority from clearing the transaction in Phase 1. In S&P/IHS, while both authorities cleared the merger with remedies in Phase 1, the scope of the remedies differed such that the merging parties had to offer a wider remedy package to address the concerns of each regulator. The divergence between the CMA and the EC will also likely continue to be a risk for companies to manage going forward—the recently announced Booking/Etraveli merger was cleared by the CMA in Phase 1, but is currently being investigated by the EC in Phase 2.

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This article is prepared for the general information of interested persons. It is not, and does not attempt to be, comprehensive in nature. Due to the general nature of its content, it should not be regarded as legal advice.

© 2023 White & Case LLP

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