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20% increase in referrals to competition body

Notifications to the competition watchdog increased by more than 20% last year, according to its annual report on mergers and acquisitions. 

All mergers and acquisitions that meet specific financial thresholds must be notified to the Competition and Consumer Protection Commission (CCPC), which assesses the deals to determine their potential impact on competition in the State. 

According to figures published on Friday (21 February), the watchdog received 82 notifications last year – up 21% compared with 2023. 

The professional-services sector (including legal, accountancy, consultancy, engineering, and veterinary) was the most prominent sector, with 13 merger notifications received. 

Simplified procedure 

The CCPC issued 77 determinations – including seven in relation to cases carried over from 2023.  

The commission said that just over 70% of last year’s determinations were made under its simplified merger-notification procedure (SMNP) and cleared within an average of 13.3 days from notification. 

There were a record eight ‘phase two’, or in-depth, investigations concluded last year, with three of these carried over from 2023. 

DAA deal blocked 

During the year, the commission blocked one deal – the DAA’s proposed purchase of the former Quickpark carpark site at Dublin Airport. 

It also cleared two more deals subject to binding commitments from the parties to address competition concerns.

An assessment of a third deal last year – involving Phoenix and Cellnex – also found competition concerns. This deal was cleared earlier this month, subject to binding commitments. 

“The average time to review mergers has continued to decrease, enabling us to focus our resources more effectively on those mergers which have the potential to raise competition concerns,” said CCPC member Úna Butler, referring to the increased number of decisions made under the SMNP.