CMA Opens Dual Merger Inquiries into Co-op Group/Southern Co-op and E.ON/OVO Deals
The Competition and Markets Authority has launched two separate merger inquiries announced on 2 September 2026. The first investigates the completed acquisition by Co-operative Group Limited of The Southern Co-operative Limited. The second examines the anticipated acquisition by E.ON SE (through E.ON UK Limited) of OVO Energy Ltd. 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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