UK merger control - a voluntary regime?

Following pressure from the UK government, the Competition and Markets Authority (CMA) is on what might be described as a charm offensive, with publications explaining its new commitment to embed the 4Ps (pace, predictability, proportionality and process) in its work to support growth, investment and business confidence. Time will tell.

At the same time, the government has expanded the jurisdiction of the CMA through legislation over mergers and acquisitions. In light of its continuing policy of imposing interim orders in relation to transactions, the question can be asked: is the UK merger regime really voluntary? For more, see the article I have written addressing this subject published in the latest edition of Lexicon's European Competition and Regulatory Law Review.

For in-house counsel the question to ask is, have I assessed properly the risks and potential costs of completing this transaction without obtaining consent from the CMA?