CMA's Draft Revised Merger Efficiencies Guidance: Five Key Takeaways

On 3 June 2026, following a call for evidence, the CMA launched a consultation on draft revised guidance regarding its approach to assessing merger efficiencies. The review, and the proposed changes to the CMA’s approach, are positioned within the CMA’s ‘4Ps’ programme aimed at improving the operation of UK merger control (pace, predictability, proportionality, process). The revised guidance is intended to replace the current Merger Assessment Guidelines (MAGs) text in relation to merger efficiencies and relevant customer benefits. 
The updated guidance would continue the wider overhaul of the CMA’s approach carried out under the current Labour Government to support growth, investment and business confidence in the UK’s competition regime. This programme has already led to various updates to the CMA’s operations, including its guidance on jurisdiction and procedure, remedies, and multi-jurisdictional mergers. The debate on merger efficiencies is also particularly interesting