Philippines: Implemented PCC merger notification threshold revision under the Philippine Competition Act

On 1 March 2024, the Philippine Competition Commission (PCC) implemented the revised merger notification thresholds under the Philippine Competition Act. The notification requires that mergers and acquisitions exceeding a size of party (SOP) of PHP 7.8 billion and a size of transaction (SOT) of PHP 3.2 billion must be notified to the PCC before proceeding. This revision increases the previous thresholds of SOP PHP 7 billion and SOT PHP 2.9 billion, reflecting the PCC's annual adjustments based on nominal gross domestic product growth to ensure relevance to the current economic landscape. The new thresholds apply to transactions from 1 March 2024 onward, while notifications filed prior to this date or currently under review will remain unaffected.