Nicholas Barnabo

In May 2025, the European Commission launched a major public consultation on its review of the EU horizontal and non-horizontal merger guidelines ("Guidelines"), seeking views from a broad range of stakeholders on how to adapt the EU merger control framework to account for transformational changes in the EU economy, ranging from digitalisation and globalisation to decarbonisation, since the Guidelines were introduced 20+ years ago (the "Consultation").

The EU Foreign Subsidies Regulation brings in a new mandatory regulatory regime for certain M&A deals and public tenders and a general market investigation tool, each administered by the European Commission. The EC has now adopted its final procedural rules, which include how parties should notify their M&A deals and public procurement bids.

The far-reaching EU Foreign Subsidies Regulation came into force on 12 January 2023. On 12 July 2023, this new regime will begin to apply. On 12 October 2023, the new notification obligations for M&A deals and public tenders will become effective. The Regulation empowers the European Commission to remedy distortions caused by subsidies given by third-countries, i.e., non-EU Member States (for example, China).