Transactions in today’s highly globalized world are often subject to parallel investigations in different jurisdictions. These parallel reviews create the possibility of divergent, or even conflicting, outcomes. See Best Practices on Cooperation in Merger Investigations, US-EU Merger Working Group. The recent merger review decisions by the CMA and the EC regarding Microsoft’s proposed acquisition of Activision-Blizzard have further thrust the topic of divergence into the spotlight. This article explores possible reasons why global antitrust agencies have diverged in their past merger investigation decisions, trends regarding divergence in recent years, and the implications of these trends on merger control moving forward.

Source: Wall Street Journal July 11, 2023 15:04 UTC