“Much more ambitious” M&A unlocked by antitrust vibe shift – A&O Shearman’s James Webber, with John West

“You can be much more ambitious” in driving global M&A transactions given a vibe shift in agency approaches to merger control, says James Webber, Chemicals & Industrials sector lead and antitrust partner at A&O Shearman. Following the abandonment of the Biden-era neo-Brandeisian settlement in the US; an embrace of industrial strategy and resilience building at the European Commission (EC); and a growth-focused reset at the UK’s Competition and Markets Authority, dealmakers can now embrace the “art of the possible”.

In this week’s Dealcast, Webber joins John West, Mergermarket’s Global Commentary Editor, to discuss how the EC’s impending shake-up of its merger guidelines and a proposed structural overhaul at the CMA will define M&A prospects in the coming year.

With agencies having to balance traditional consumer welfare concerns against growth imperatives and geopolitical risk management, merger parties will need to lay groundwork with regulators, consider the social and industrial dimensions of their deals, and engage with customers as never before if they want to move from audacious announcements to closed deals.

Taking in European petrochemicals consolidation, the continent’s beleaguered steel industry and telecommunications mergers, this episode is a window into how regulatory moves both sides of the Channel will frame dealmaker decisions as they seek to realise the M&A pipeline.