Merger Benefits Unit

We regularly advise clients on complex merger proceedings, often in-depth Phase II investigations, before the European Commission and national competition authorities.

We understand how authorities test merger claims, assess evidence and evaluate efficiencies. We also understand how a benefits case needs to fit within the wider clearance strategy.

We have worked on a number of high-profile merger reviews, including landmark cases such as London Stock Exchange/Refinitiv, ThyssenKrupp/Tata Steel, Meta/Kustomer, Telefónica UK/Hutchison 3G UK, and Vodafone/Three UK.

Under evolving regulatory regimes, merger cases require economic advisers to apply a broader and more sophisticated range of methods and techniques than before. This includes tools that may be new to antitrust but are established in economics.

The team unites experts from our Competition, Public Policy and network regulation practices. This enables us to offer a rare blend of expertise, helping clients navigate complex economic issues in merger proceedings, with a particular focus on transaction benefits. 

Competition authorities expect merging parties to substantiate claimed benefits with clear and robust evidence.

We work closely alongside clients to:  

• define the benefits most likely to matter to competition authorities and policymakers;
• link those benefits clearly to the transaction;
• assess whether the merger creates the ability and incentive to deliver them;
• quantify impacts where possible; and
• communicate the evidence clearly.  

We apply a broad range of economic tools, many well established in public policy and regulatory appraisal but until recently less familiar in merger control, to develop innovative, case-specific approaches to assessing and quantifying transaction benefits. 

We turn strategic plans, investment ambitions and commercial rationale into a benefits case that can withstand regulatory scrutiny.

The Merger Benefits Unit is supported by a panel of distinguished practitioners from academia, business and policymaking. The panel complements Frontier's case team by bringing independent perspectives, specialist expertise and senior experience from the organisations that develop, apply and shape competition and public policy. Meet our Senior Advisors.