In 2025, the UK Competition and Markets Authority (CMA) signalled a significant shift in its enforcement and merger review priorities, emphasising its alignment with the UK government’s pro-growth, pro-business agenda. While speeches by CMA executives in previous years had emphasised the need to avoid under-enforcement, including in the context of digital mergers (as seen in the Bannerman Competition Lecture), the tone shifted in 2025: ‘The goal for merger control is simple – and this has always been the case: every deal that is capable of being cleared either unconditionally or with effective remedies should be’. The UK government’s strategic steer further directed the CMA to focus on markets that particularly impact UK-based consumers and businesses.
In parallel, the CMA implemented a series of changes to its merger review processes to streamline and speed up reviews, and amended several merger guidance documents to emphasise pace, predictability, proportionality and process (as part of its ‘4P’ framework). On 20 January 2026, the UK government opened a consultation on further legislative changes to the UK merger-control regime aimed at enhancing predictability for businesses in support of economic growth.
For dealmakers, the UK merger-control risk assessment has shifted significantly. We set out the key developments in more detail below and explain what they mean for dealmakers navigating the evolving regulatory landscape in the UK in 2026.
