Skadden Discusses Merger Reviews and Antitrust Investigations Under Brexit Agreement

Since the U.K.'s departure from the EU severs the rules between the two on jurisdictional allocation of merger reviews and antitrust investigations, guidance published by the U.K.'s Competition and Markets Authority details important implications for transactions during a transition period currently set to expire on December 31, 2020. For acquisitions formally notified or proceedings formally initiated prior to the transition end date, EU and U.K. jurisdictional rules continue to apply as if the U.K. were still an EU member state. For acquisitions or investigations not yet formally notified or initiated by that date, parallel U.K. and EU jurisdiction may apply.