TITLE: United Kingdom Competition and Markets Authority Consults on Revised Merger Efficiencies Assessment Guidance
BODY:
On June 3, 2026, the Competition and Markets Authority (CMA) launched a consultation on draft revised guidance for assessing rivalry-enhancing efficiencies in mergers. The consultation proposes updates to the CMA's Merger Assessment Guidelines, specifically replacing paragraphs 8.2 to 8.27 with new guidance that reflects the authority's evolving approach to merger control.
The revised guidance forms part of the CMA's broader programme to embed its 4Ps framework—pace, predictability, proportionality, and process—across its merger control function. In January 2026, the CMA initiated a formal review into its approach to assessing rivalry-enhancing efficiencies in mergers, recognising the need to modernise its assessment methodology. The consultation builds on evidence gathered during a call for evidence phase, with responses now publicly available. The CMA has published three key documents: the draft revised guidance, a consultation document summarising the proposed changes, and a summary of responses received during the call for evidence. These materials are available on the CMA's consultation portal.
Rivalry-enhancing efficiencies—those that improve competition and consumer outcomes—represent an important consideration in merger assessment. The revised guidance aims to provide clearer, more predictable standards for how the CMA evaluates such efficiencies, supporting the authority's commitment to proportionate and transparent decision-making.
The consultation period closes at 5pm on July 1, 2026. Stakeholders, including merging parties, legal practitioners, economists, and other interested parties, are invited to submit responses during this window. The CMA will review all feedback received before finalising the guidance.