The proliferation of global merger control

Abstract

International expansion of merger control swiftly followed the enactment of the European Merger Regulation in 1989. Today, more than 150 countries have a system of merger control, accounting for review of more than 11,000 transactions annually. The large majority of merger control regimes are ex ante and suspensory and rely on a significant lessening of competition substantive review test. However, jurisdictions’ individual particularities and inconsistencies in their merger control regimes create complexities for global mergers, contribute to costly, protracted review processes and lead to uncertainty and inefficiency. These risks undermining the numerous consumer benefits of globalised merger control and corroborates calls for more streamlined global merger review.