What does the UK’s exit from the EU on 31 January mean for parties’ deal planning?

Key Points:

..On 23 January 2020, the UK passed legislation to leave the EU on 31 January 2020 under the terms of the Withdrawal Agreement negotiated with the EU, which provides for a transition period between 31 January 2020 and 31 December 2020.

..For transactions formally notified to the European Commission (EC) before the end of the transition period, the EC will continue to have jurisdiction to assess the UK effects of the transaction.

..Transactions notified after the end of the transition period, that meet both the UK and EU filing thresholds, could face parallel scrutiny by both the EC and the UK Competition and Markets Authority (CMA).