CMA Opens Dual Merger Inquiries into Co-op Group/Southern Co-op and E.ON/OVO Deals
The Competition and Markets Authority has two separate merger inquiries running in parallel. The first investigates the completed acquisition by Co-operative Group Limited of The Southern Co-operative Limited, launched on 30 July 2026 with a phase 1 decision due by 28 September. The second, launched on 2 September 2026, examines the anticipated acquisition by E.ON SE (through E.ON UK Limited) of OVO Energy Ltd, with a phase 1 deadline of 28 October. Both transactions are now subject to formal CMA scrutiny.
Why this matters
Two simultaneous CMA inquiries in the consumer-facing retail and energy sectors signal continued regulatory appetite for scrutiny of consolidation that could reduce local competition. The Co-op/Southern Co-op deal involves two mutual grocery and funeral services operators whose geographic overlaps will be the focus of any phase 2 reference. The E.ON/OVO deal puts two of the UK's largest domestic energy suppliers under the microscope at a time of acute consumer sensitivity over energy bills.
On the Ground
Both inquiries activate competition law practices at firms advising the merging parties and any third-party interveners. Phase 1 CMA reviews require rapid preparation of merger notices, evidence on competitive effects, and remedies proposals. A trainee would be tasked with drafting market share analyses, compiling internal document reviews for disclosure, and monitoring CMA timetable milestones.
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