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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

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Key legislation and judgments coming up in 2023

Record breaker: US M&A 2021
Eastern shore of Maryland

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

1 min read

Competition regulators across the world have traditionally perceived non-horizontal mergers as less likely to be problematic because there is substantive scope for efficiencies.

We expect vertical and conglomerate mergers, especially in the life sciences and digital sectors, to continue being in the spotlight in the EU and US in 2023 and beyond. Illumina/Grail, Meta/Kustomer, Meta/ Giphy, Microsoft/Activision Blizzard, Nvidia/Arm or Lockheed Martin/ Aerojet exemplify this trend.

Notably, Illumina/Grail has been the first EC prohibition based exclusively on vertical concerns. In the UK, the CMA recently commissioned an evaluation of vertical mergers, while in the US, the new Merger Guidelines are expected to drop the emphasis on vertical mergers’ efficiencies. In its calls for ex-ante regulation of the tech sector, the ACCC has raised concerns that acquisitions by digital platforms in adjacent markets are increasing and entrenching their market power, and has indicated this as an area of focus.

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