Merger Control in the United Kingdom

Merger control in the United Kingdom has recently entered a new phase in its development. The advent of the relevant aspects of the Enterprise Act 2002 has been welcomed as a "depoliticisation" of the regime. The role of the Secretary of State has been all but excised, and the substantive criteria against which mergers are assessed have been revised to offer formally a competition-based standard. Together with guidance published subsequently, the reforms also prescribe a range of new procedural guarantees for those parties affected under the regime. In addition, the EC merger control regime and in particular the nature of its relationship with the competent authorities of the Member States has been significantly revised.

It is against this backdrop that the authors—leading experts with first rate regulatory, practical and academic experience—offer a comprehensive statement of the law, architecture, and procedure of merger control in the United Kingdom; explain the factors pertinent to the economic appraisal of mergers in a manner accessible to a legal audience; and give invaluable practical guidance on managing the transactional process and regulatory risk.

Merger control in the United Kingdom has recently entered a new phase in its development. The advent of the relevant aspects of the Enterprise Act 2002 has been welcomed as a "depoliticisation" of the regime. The role of the Secretary of State has been all but excised, and the substantive criteria against which mergers are assessed have been revised to offer formally a competition-based standard. Together with guidance published subsequently, the reforms also prescribe a range of new procedural guarantees for those parties affected under the regime. In addition, the EC merger control regime and in particular the nature of its relationship with the competent authorities of the Member States has been significantly revised.

It is against this backdrop that the authors—leading experts with first rate regulatory, practical and academic experience—offer a comprehensive statement of the law, architecture, and procedure of merger control in the United Kingdom; explain the factors pertinent to the economic appraisal of mergers in a manner accessible to a legal audience; and give invaluable practical guidance on managing the transactional process and regulatory risk.

Dr Andrew Scott is a lecturer at the Norwich Law School (University of East Anglia), and a Competition Editor for the Practical Law Company. He is the Director of the LLM in International Competition Law and Policy at UEA, and a contributing editor of the Encyclopedia of Competition Law. He has held visiting academic positions at the Universities of Trier and Muenster. He has published widely on competition issues, and was awarded the Modern Law Review Wedderburn Prize 2003.
Professor Morten Hviid became Professor of Competition Law at the Norwich Law School (University of East Anglia) in 2004 having previously taught economics at the Universities of Copenhagen, Warwick and UEA. He is a former editor of the Journal of Industrial Economics and the International Journal of Industrial Organization. He has published widely on competition issues, and was awarded the Journal of Economic Integration Daeyand Prize 1999.
Professor Bruce Lyons is Professor of Economics at the University of East Anglia. He is a Reporting Member of the UK Competition Commission and a member of the Academic Advisory Group to the Competition Directorate of the European Commission. He has held visiting academic positions at the European University Institute, Florence and the University of Melbourne. He is a former editor of the Journal of Industrial Economics, an associate editor of Economica, and has published widely on competition issues. Mr Christopher Bright, a partner of Shearman and Sterling LLP, practices in the field of antitrust law in the UK and Europe. He has extensive experience of major cross-border M&A transactions, as well as advising a wide range of sectors on joint ventures, cartels, monopoly infringement, complex contractual arrangements and the European Union public procurement and state aid rules. He is also a leading practitioner in utility regulation, with particular expertise in energy and water sectors. He is experienced in enforcement of antitrust rights in the UK courts. Christopher Bright joined Shearman and Sterling LLP as a partner in 2001. He came from Clifford Chance where he was head of its European competition practice.