UK merger control appeals: Cérélia/Jus-Rol

In September 2023, the UK Competition Appeal Tribunal (CAT) dismissed Cérélia’s appeal against the Competition and Markets Authority’s (CMA) decision to block their acquisition of Jus-Rol, confirming the two household brands must reverse their completed merger. 

How wary should companies be of completing transactions prior to CMA approval?  Jamie Cooke and Richard Whish KC examine the CAT’s judgment, including the CAT’s views on the CMA’s investigation and difficulties in establishing irrationality.

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