United Kingdom: Adopted Digital Markets, Competition and Consumers Bill including merger regulation

On 23 May 2024, the Merger Control and Antitrust Rules in Digital Markets, Competition and Consumers Bill was adopted by the United Kingdom Parliament. In particular, the Bill introduces new merger control thresholds intended to address "killer acquisitions" but applicable to all mergers. Notification is mandatory for mergers in which the acquirer has an existing share of supply of 33% in the UK and a UK turnover exceeding GBP 350 million. In addition, the Bill introduces specific rules for companies with "strategic market status" in digital markets. The Competition and Markets Authority can designate companies with a global turnover of over GBP 25 billion or a UK turnover of over GBP 1 billion as having "strategic market status" if they hold substantial market power or have strategic influence. Designated firms must notify the intention of a "qualifying acquisition" into target firms that operate in the UK when the transaction value exceeds GBP 25 million and the equity stake acquired exceeds specified thresholds.