UK Government Introduces Lower National Security Merger Review Thresholds – Cooley M&A


Under new measures coming into force on 11 June, the UK government will have greater powers to intervene in mergers that potentially raise national security concerns due to the target’s involvement in military and dual-use technologies and certain categories of advanced computer technology. Such transactions will be reviewable by the government on public interest grounds if the target: (i) has UK revenues of at least £1 million; or (ii) has a UK share of supply exceeding 25%. This is a significant change from the current regime, under which a transaction is reviewable only if the target has UK revenues of more than £70 million or if it leads to an increment in the parties’ combined share of supply of 25% or more.

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