Antitrust authorities continued their aggressive campaign against procedural merger control infringements in 2022. A total of EUR113.8m fines were imposed in 70 decisions across the jurisdictions surveyed....more
We have collected and analysed data on merger control activity for 2022 from 26 jurisdictions. We give you the key trends and developments from the past year, focusing in particular on the EU, UK, U.S. and China.
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Electricity Generation Levy Update....more
The Chancellor’s Autumn Statement announced the introduction of a new windfall tax of 45% on the “extraordinary profits” of low carbon electricity generators, via the Electricity Generator Levy (the Generator Levy)....more
The UK government has announced that it will require Chinese-owned technology company Nexperia BV to sell the 86% shareholding it acquired in July 2021 in the UK’s largest semiconductor plant, Newport Wafer Fab (since...more
On 20 October 2022, an adviser (Advocate General) to the European Court of Justice (ECJ) recommended that the ECJ uphold the European Commission (EC)’s appeal of a 2020 judgment by the lower-tier General Court (GC), which set...more
Few issues have grabbed public attention recently more than the increase in energy prices for consumers. The sudden increase in the price of gas on the wholesale market has both unnerved politicians and thrown into sharp...more
President Biden recently issued “formal Presidential direction” on the risks that the United States will consider when evaluating in-bound foreign investment....more
The UK’s new national security screening tool has been in force for over 9 months and its impact on deal making is being felt. Determining whether notification is required can be complex and while the notification process...more
With the EU FDI Regulation close to celebrating its second year anniversary, the European Commission (EC) has published its second annual report on EU FDI screening covering the operation of the mechanism in 2021. In...more
The UK National Security and Investment Act 2021 (NSIA) has been in force for over six months. We know that within the first three months, the UK government received 221 notifications and “called-in” 17 deals for a more...more
UK competition rules are facing unprecedented levels of change. Last month we reported on the UK Government’s intentions for broad reforms to the competition and consumer law regimes. Now, the Government has set out the...more
Following a consultation in summer 2021, which set out a suite of wide-ranging proposals for reforms to UK competition and consumer laws, the UK Government has now confirmed the changes that it plans to take forward.
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The UK Competition and Markets Authority (CMA) has published for consultation its much-anticipated draft guidance on vertical agreements (Draft Guidance). ...more
The National Security and Investment Act 2021 came into force on 4 January. We look at the implications for the loan markets.
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The UK government is continuing to build up its guidance in preparation for the commencement of the UK’s national security regime on 4 January 2022. ...more
The UK government has taken a further step in preparation for the commencement of the UK’s strengthened national security regime on 4 January 2022. ...more
In a move aimed at driving growth and delivering competitive markets that work for consumers, the UK government has published two consultations on proposals for reform of the UK competition and consumer rules.
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The UK’s strengthened national security regime will commence on 4 January 2022. From that date there will be a dramatic expansion of the UK Government’s ability to scrutinise investments. This will include a power for the UK...more
The UK’s strengthened national security regime will commence on 4 January 2022. From that date there will be a dramatic expansion of the UK Government’s ability to scrutinise investments. That will include a power for the UK...more
This is a focus for antitrust regulators across the globe, which is playing out most publicly in the context of acquisitions and business practices, in particular in the digital sector, that threaten nascent competitors and...more
On 21 May 2021, the UK's specialist competition court, the Competition Appeal Tribunal (CAT) gave judgment dismissing Sabre Corporation (Sabre)'s challenge to the Competition and Markets Authority (CMA)'s decision to prohibit...more
On 5 May 2021, the European Commission (EC) published a draft Regulation aimed at remedying distortions in the EU single market caused by companies receiving subsidies from non-EU entities.
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On 29 April 2021, the National Security and Investment Act 2021 (the Act) received royal assent. The Act dramatically expands the UK Government’s powers to scrutinise investments. The regime that the Act puts in place has not...more
The European Commission published on 19 April 2021 a template notification form that EU Member States should use in the context of the cooperation mechanism put in place by the EU FDI Regulation....more