Joint statement on merger control enforcement
The ACCC, the Competition and Markets Authority (UK) and the Bundeskartellampt have issued a joint statement on the importance of effective merger enforcement.
The statement was launched at a virtual event today (the Virtual Event can now be viewed on YouTube).
It begins with a statement of purpose:
Purpose of this statement
1. The CMA, ACCC and Bundeskartellamt release this joint statement to highlight to businesses, advisers, courts and governments that there is a common understanding across competition agencies on the need for rigorous and effective merger enforcement. This statement is made in the face of high levels of concentration across various markets in the UK, Australia and Germany and a marked increase in the number of merger reviews involving dynamic and fast-paced markets. The need for effective merger control remains important where our economies are weakened, including as a result of the Coronavirus (Covid-19) pandemic.
2. The combination of the uncertainty inherent in the forward-looking nature of merger control and changes in the nature and complexity of the mergers under review presents challenges to preventing further concentration from anticompetitive mergers over the longer term. It is important that the decisions by competition agencies, the courts and tribunals give due credence to the importance of competition and the economic principles underlying merger control, so as to ensure good outcomes for consumers and the economy.
For full details see: