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UK Antitrust Regulator Signals Potential Shift in Global Merger Oversight

By  |  February 27, 2025

The head of the UK’s Competition and Markets Authority (CMA) has suggested that the regulator may scrutinize fewer global mergers in the future as part of an effort to align with the government’s pro-growth agenda. According to Bloomberg, this potential shift follows criticism of the CMA’s tough stance on high-profile mergers, including its initial decision to block Microsoft Corp.’s $69 billion acquisition of Activision Blizzard Inc. before ultimately approving a restructured proposal.

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    At a recent event in London, Sarah Cardell, chief executive officer of the CMA, acknowledged that the agency may choose not to review certain international deals that it might have previously examined. “There will be perhaps a handful of global deals that we would have looked at previously that perhaps we decide we don’t need to look at,” Cardell said, per Bloomberg. However, she was quick to clarify that this does not indicate a complete relaxation of antitrust scrutiny. “This is not an open season for every single anti-competitive” deal, she added.

    Related: UK’s CMA Provisionally Approves Poultry Feed Merger

    Cardell’s remarks come amid growing political pressure on the CMA, particularly from the Labour government, which has expressed concerns that the regulator’s actions could hinder economic growth. According to Bloomberg, this tension contributed to the removal of the CMA’s chairman and the appointment of former Amazon Inc. executive Doug Gurr in his place. The government has also pushed the watchdog to streamline its decision-making process, aiming to provide greater certainty for investors while maintaining its core mission of consumer protection.

    Despite these pressures, Cardell emphasized that the CMA will not hesitate to intervene if mergers threaten consumer interests.

    Source: Bloomberg