Merger fees to triple
Merger fees charged by the competition authorities are set to triple on 6 April 2006, and then double again in 2009. Also from 6 April, foreign acquirers will be charged a merger fee for the first time. SMEs will continue to be exempt.
The new fee levels are intended to cover the cost of regulation, says Competition Minister Gerry Sutcliffe: "We believe it is right that the costs of controlling mergers are met by the acquiring companies concerned and not the tax payer.