Getting the deal through in an era of policy-driven enforcement

In a recent post, we shared details of the 2027 edition of Getting the Deal Through: Merger Control, now called Panoramic: Merger Control. This comprehensive guide sets out the essentials of merger regulation regimes in 55 leading jurisdictions worldwide. 

In this post, we provide an overview of our opening chapter, which explores how enforcement is increasingly shaped by broader policy objectives, highlighting the growing importance of geopolitical considerations, expanded procedural tools, novel theories of harm and parallel regimes such as foreign investment review and the EU Foreign Subsidies Regulation.

Across key jurisdictions—including the US, the EU, and the APAC region—authorities are expanding their factual inquiries to assess how a transaction intersects with broader national interests, ranging from supply-chain resilience and strategic autonomy to the protection of domestic productivity. Authorities are also exploring novel (or historically unenforced) theories of harm, such as the impact of a transaction on competition for labour or access to important digital inputs, and taking advantage of enhanced call-in powers to scrutinise transactions. 

This trend towards greater policy-driven merger control enforcement is complemented by a proliferation of parallel regulatory hurdles, where Foreign Direct Investment (FDI) screenings and the EU’s Foreign Subsidies Regulation (FSR) can be just as determinative of deal feasibility as traditional merger control.

While the regulatory landscape is exacting, it remains navigable. Points of good practice, such as the development of a relevant, coherent and consistent pro-competitive narrative  and early planning on remedies (where they may be needed), are critical to getting the deal through.

In ‘Getting the deal through in an era of policy-driven enforcement’, we explore these trends in more detail, with insights provided by Freshfields lawyers from across the globe. You can read it here.

Please get in touch to request access to the 2027 edition of Lexology Panoramic: Merger Control.