The Competition and Consumer Protection Commission (CCPC) has published its Annual Mergers and Acquisitions Report for 2024, detailing the mergers and acquisitions that were notified and reviewed throughout the year. The report indicates that all mergers and acquisitions meeting specific financial thresholds must be reported to the CCPC, which assesses them for potential impacts on competition in the market.

In 2024, there was a notable increase in merger notifications, with 82 mergers reported, marking a 21% rise from the previous year. The CCPC issued 77 determinations, including 7 cases carried over from 2023. One merger from 2023 was declared invalid under Section 18(12) of the Competition Act 2002. Approximately 71% of the determinations were made under the Simplified Merger Notification Procedure (SMNP), allowing for quicker reviews, averaging 13.3 days.

The CCPC conducted 8 Phase 2 investigations in 2024, with 3 of these cases originating from 2023. Notably, the professional services sector saw the highest number of notifications, with 13 mergers reported. The average time for a non-extended Phase 1 investigation determination was 16.3 working days.

In a significant case, the CCPC assessed the merger between Phoenix and Cellnex, issuing preliminary competition concerns but ultimately clearing the deal with binding divestment commitments. Additionally, the CCPC required divestments in two other cases to address competition concerns.

One of the most impactful decisions was the blocking of the Dublin Airport Authority's proposed purchase of the former Quickpark carpark site, which would have given them over 90% control of public car parking spaces at Dublin Airport. This decision was made to prevent a substantial lessening of competition, which could harm consumers through higher prices and reduced service quality.

Úna Butler, a member of the CCPC, emphasized the busy year for merger reviews, noting the increase in notifications and the efficiency of the review process. The CCPC remains committed to ensuring that mergers do not threaten competition and will prohibit those that do not meet necessary conditions.