Draft revised guidance on our approach to assessing merger efficiencies
- From:
- Competition and Markets Authority
PublishedPublished:- 3 June 2026
- Last updated:
- 3 September 2026 — See all updates
SummaryRead the full outcome
Final revised guidance on merger efficiencies
PDF, 172 KB, 10 pages
Detail of outcome
The Competition and Markets Authority (CMA) ishas consultingpublished updated merger assessment guidelines, which incorporate our final revised guidance on merger efficiencies.
Feedback received
Summary of responses to the consultation
PDF, 227 KB, 12 pages
ABA (Antitrust and International Law Sections)
PDF, 400 KB, 8 pages
Association for Competitive Technology (ACT)
PDF, 135 KB, 5 pages
AlixPartners
PDF, 168 KB, 5 pages
Clifford Chance LLP
PDF, 159 KB, 6 pages
Compass Lexecon
PDF, 157 KB, 2 pages
Farasat Bokhari et al
PDF, 76 KB, 5 pages
Freshfields LLP
PDF, 149 KB, 10 pages
Frontier Economics
PDF, 267 KB, 6 pages
Gregory Werden
PDF, 178 KB, 6 pages
In-House Competition Lawyers’ Association (ICLA)
PDF, 74.2 KB, 4 pages
Linklaters
PDF, 234 KB, 3 pages
Preiskel & Co
PDF, 313 KB, 3 pages
UK Finance
PDF, 255 KB, 4 pages
UK Private Capital
PDF, 194 KB, 4 pages
Original consultation
Summary
The CMA consulted on draft revised guidance on our approach to assessing rivalry-enhancing efficiencies in mergers.
This consultation iswas being held on another website.
This consultation closesran atfrom
to
Consultation description
The CMA has been delivering a programme of work to embed our 4Ps framework – pace, predictability, proportionality, and process – across our merger control function.
In January 2026, we launched a review into our approach to the assessment of rivalry-enhancing efficiencies in mergers.
We arethen nowconsulted consulting on proposed updates to our guidelines.
We have published:
- draft revised guidance,
whichisintended to replace the text currently in paragraphs 8.2 to 8.27 of our Merger Assessment Guidelines - a consultation document, which
summarisessummarised the key changes proposed in the draft revised guidance
We have also published the responses to our call for evidence.
Documents
Consultation document
PDF, 363 KB, 29 pages
Draft revised guidance
PDF, 175 KB, 10 pages
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Updates to this page
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Final outcome and responses published.
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First published.
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Update history
2026-09-03 12:06
Final outcome and responses published.
2026-06-03 11:00
First published.