Guinness and Distillers: some current issues in mergers policy

In early June the Government announced its intention to hold a review of competition policy later this year. The announcement was particularly timely with regard to policy on mergers and takeovers, which has been subject to considerable criticism in the light of several recent very large and fiercely contested takeover bids. One of these bids, that by Guinness for Distillers, has a very strong Scottish dimension, and this is therefore an appropriate time to consider some of the policy issues raised as a result of this particular takeover.