Horizontal merger meaning

Mergers CMA issues interim report in GXO/Wincanton merger phase 2 investigation; provisionally finds competition concerns The CMA has published its interim report and interim notice on the completed takeover of Wincanton Plc (Wincanton) by GXO Logistics, Inc (GXO). GXO is the world’s largest contract logistics services company. Wincanton, a UK‑based business, also provides these services. Both organisations supply mainstream contract logistics services (CLS) to business customers in retail—such as groceries, fashion, and apparel—and in non‑retail—such as manufacturing and construction—sectors. In its phase 1 review, the CMA determined that the merger gives rise to a realistic prospect of an SLC, stemming from horizontal and unilateral effects in the provision of mainstream CLS across the UK...

In this issue: UK mergers National Investment and Security Act 2021 UK antitrust UK competition policy EU antitrust EU mergers EU Digital Markets Act EU State aid LexTalk®Competition: a Lexis®Nexis community Daily and weekly news alerts Caselex UK mergers Vandemoortele/Délifrance meets the test for reference to a phase 2 The CMA has decided that Vandemoortele Group’s proposed purchase of Délifrance SA satisfies the threshold for a phase 2 referral. Both Vandemoortele and Délifrance supply frozen bakery lines, including croissants and pain au chocolates, to retail and foodservice customers. Those customers bake the products on-site and then sell or serve them to end consumers. At phase 1, the CMA concluded the deal leads to an SLC arising from horizontal unilateral effects in the provision of frozen Laminated Dough (LD) products to retail and foodservice customers across the UK...

On 30 April 2026, the Commission unveiled draft updated Merger Guidelines and launched a public consultation. The proposal supersedes the 2004 Horizontal and 2008 Non‑Horizontal Merger Guidelines, constituting the most far‑reaching overhaul of EU merger control guidance in two decades. It reflects a shifted geopolitical and trade landscape, where scale, global competitiveness, innovation, investment, sustainability and resilience are weighed more overtly in merger reviews. Against this setting, the Commission has pursued change. President von der Leyen cast the move in competitiveness terms, saying the Guidelines are intended to better help companies grow, scale and innovate, so they can respond to a fiercely competitive global economy and enhance Europe’s competitiveness, while maintaining the predictability and certainty investors prize in Europe. For dealmakers, the signal is even‑handed: the Commission shows greater receptiveness to robustly evidenced efficiencies from scale and innovation, yet it remains intent on stopping the build‑up of harmful market power, as parties must still prove that competition would not be significantly hindered. What is changing? The draft merges...

CASE HUB ARCHIVED –this archived case hub reflects the position at the date of the abandonment of the transaction on 13 June 2016; it is no longer maintained. See further, timeline and commentary. Case facts Outline UK merger review of Clariant’s intended purchase of the Kilfrost Group’s European aircraft de-icing fluid and rail de-icing fluid business. The deal presented a horizontal overlap in the supply of aircraft de-/anti-icing fluids. Latest developments On 13 June 2016, the CMA stated the investigation was cancelled after the parties chose to abandon the deal. On 10 June 2016, the parties had announced their decision to withdraw following the CMA’s provisional findings and the expectation that the transaction would have been prohibited. Parties Clariant AG: a Swiss-based speciality chemicals company, headquartered near Basle, operating in 150 countries worldwide. Kilfrost plc: a UK-based firm in Newcastle specialising in heating and cooling products. The target business is Kilfrost’s European aircraft de-icing fluid and rail de-icing fluid operations. Kilfrost’s...

CASE HUB ARCHIVED This archived case hub sets out the status as at the decision date of 9 May 2023; it is not being updated. See further, timeline. Case facts Outline of the UK merger investigation into the anticipated acquisition by Viasat, Inc. of Inmarsat Group Holdings Limited. The deal features horizontal overlaps in the supply of in-flight connectivity for aircraft. Latest developments On 9 May 2023, the CMA published its final report, granting unconditional approval. It found that although the firms are close competitors (notably in supplying wi-fi connectivity on board flights), the deal would not lessen competition for services on flights used by UK customers because: (i) the satellite industry is growing quickly and changing in response to rising demand for satellite connectivity, largely fuelled by ever-increasing internet use by businesses and consumers; and (ii) the merged firm would face cumulative constraints from other competitors, including several new operators entering or intending to enter the market and established players that are also investing...

CASE HUB ARCHIVED This archived case hub captures the position as at the date the investigation was cancelled on 19 December 2023; it is now no longer being maintained or updated further at all. See further, timeline. Case facts Outline UK merger inquiry into the anticipated acquisition of Figma, Inc by Adobe Inc. The deal presents horizontal overlaps in relation to the provision of screen design software. Latest developments On 19 December 2023, the CMA formally cancelled its phase 2 probe after both parties chose to abandon entirely the proposed transaction. Parties Adobe Inc (Adobe): Adobe is a US business headquartered in San Jose. It is a major provider of creative design software. Such software is used to produce media assets including photos, illustrations, video, and animations. Various categories of creative design software include vector editing for logos, icons, etc; raster editing for photographs and other pixel-based image work; video editing involving assembly of video assets; and motion design for...