Report
Global trends in merger control enforcement
Antitrust authorities continued to disrupt M&A in 2023, frustrating more deals and stepping up scrutiny of digital and private equity transactions.
Regulators have focused their attention on mergers in the digital/tech and private equity M&A pharmaceuticals industries, while also scrutinizing below-threshold private equity acquisitions, sciences, transport, energy and consumer deals.
In technology, which accounted for 20% of deals blocked in 2023, authorities are looking at the impact on ecosystems, innovation and potential competition. Transactions resulting in data concentration as well as those involving AI are also in the spotlight, while the EU’s Digital Markets Act and forthcoming U.K. equivalent will require designated digital firms to submit information about all deals involving digital services, or that enable the collection of data deals, falling below standard filing thresholds.
As countries work to meet their green transition targets, we expect sustainability and environmental arguments to feature more heavily in merger control reviews, potentially overriding competition outweighing antitrust concerns. But some antitrust authorities (e.g., in the U.S.) remain sceptical of ESG considerations. A patchwork of approaches is emerging.
Global trends in merger control enforcement 2024
This content was originally published by Allen & Overy before the A&O Shearman merger
Dive into the report
Here, you will find links to nine individual articles covering the top themes in merger control enforcement in 2024. You can read them individually, or download a PDF version via the link above.
Related people
Elaine Johnston
Partner
New YorkDominic Long
Partner
London