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UK: Brexit – The need for a special approach to EU mergers

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The United Kingdom (UK) is expected to leave the European Union (EU) in the near future. When it does so, mergers affecting both the EU and the UK will lose the benefit of the “one stop shop” under the EU Merger Regulation (EUMR) and the European Commission (the Commission) will have no right or duty to take account of the impact on the UK of mergers it reviews under the EUMR. Instead, the UK’s Competition and Markets Authority (CMA) must decide whether and how to deal with those mergers where they also qualify for investigation in the UK. This article seeks to frame the challenge facing the CMA and proposes steps to ensure that its review of these new mergers remains efficient and effective.