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ARTICLE · 19 OCTOBER 2026

Pace And Pastries: How Two Bakery Mergers Sped Through CMA Review

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The CMA has made it its mission to speed up the Phase 1 and Phase 2 merger investigation process in the UK. Through the lens of Vandemoortele/Délifrance, Associated British Foods (ABF)/Hovis...

United KingdomAntitrust/Competition Law
Caja Griesenbach
Caja Griesenbach
Christian Leighton
Christian Leighton
Blaise Kingan
Blaise Kingan
Greg Dowell
Greg Dowell

The CMA has made it its mission to speed up the Phase 1 and Phase 2 merger investigation process in the UK. Through the lens of Vandemoortele/Délifrance, Associated British Foods (ABF)/Hovis and other live inquiries, this article unpacks the available mechanisms for shaving time off the statutory review timetable.

Background

As part of its ongoing 4Ps initiative, the CMA has been placing increasing emphasis on improving the pace and efficiency of its merger investigations. Against this backdrop, two mechanisms: (i) the Phase 2 substantial lessening of competition (SLC) concession; and (ii) the fast-track reference to Phase 2, have emerged as important tools for merger parties seeking to further streamline the review process in in-depth CMA merger investigations. 

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