12 March 2025 – The UK’s Competition and Markets Authority (CMA) has formally launched a review of its approach to merger remedies, alongside the publication of a new Mergers Charter, as part of ongoing efforts to enhance the country’s merger control regime.
Announced by CMA CEO Sarah Cardell in a speech at Chatham House last November, the review aims to refine the authority’s process for assessing remedies and ensure a balanced approach to addressing competition concerns in mergers. The initiative includes a broad call for evidence, seeking input on key aspects such as the circumstances in which behavioural remedies may be appropriate, preserving pro-competitive benefits of mergers, and streamlining the assessment process.
According to Cardell, “every deal that is capable of being cleared either unconditionally or with effective remedies should be, and only a truly problematic merger, where the harm to businesses and consumers cannot be effectively addressed through remedies, should not proceed.”
Key Areas for Consultation
The CMA is inviting feedback on three core areas:
- Approach to remedies: Determining when behavioural remedies, as opposed to structural remedies, may be suitable.
- Preserving competition benefits: Ensuring that remedies support any pro-competitive effects and customer advantages of a merger.
- Efficiency of the process: Making the assessment of remedies quicker and more predictable.
The call for evidence is open until 12 May 2025, with the CMA planning to conduct a series of outreach events, including a webinar on 19 March 2025, to gather further input. Following this consultation phase, the CMA will publish detailed proposals in the autumn for further review.
Introduction of the Mergers Charter
Alongside the remedies review, the CMA has also introduced the Mergers Charter, which outlines the authority’s approach to engaging with businesses and their advisors during merger investigations. The charter reflects the CMA’s commitment to its ‘4Ps’ strategy—pace, predictability, proportionality, and process—aimed at enhancing business and investor confidence.
Joel Bamford, Executive Director for Mergers at the CMA, emphasized the significance of these developments, stating, “We’re moving rapidly to deliver on our commitment to update the UK’s mergers regime. The remedies review and charter represent crucial progress as we turn those principles into practice.”
Bamford also stressed the CMA’s commitment to transparent and constructive engagement with businesses and stakeholders, encouraging active participation in the review process. To support this initiative, the CMA has released an in-depth discussion between Bamford and Jordan Cummins, the CBI’s UK Competitiveness Director, which is available on the CMA’s YouTube channel.
With these initiatives, the CMA aims to strengthen the UK’s merger control framework, ensuring a balanced approach that safeguards competition while fostering economic growth and business confidence.
