Draft revised guidance on our approach to assessing merger efficiencies
Overview
This consultation is now closed. It was open from 3 June 2026 to 1 July 2026.
We have published updated merger assessment guidelines, which incorporate our final revised guidance on merger efficiencies. We also published the responses to our consultation.
About this consultation
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 then consulted on proposed updates to our guidelines.
We published:
- draft revised guidance, intended to replace the text in paragraphs 8.2 to 8.27 of our merger assessment guidelines
- a consultation document, which summarised the key changes proposed in the draft revised guidance
We also published the responses to our call for evidence.
What are 'rivalry-enhancing efficiencies' in mergers?
Rivalry-enhancing efficiencies are merger-specific benefits that can increase the competitiveness of a business – for example, by reducing its marginal costs or improving the ability and/or incentive to innovate.
In some cases, efficiencies can address the CMA's concerns about the potential anticompetitive effects of a merger.
Interests
- Mergers