As a number of recent cases have
shown, lobbying against a reference can represent a key step in justifying a proposedmerger. By the same token, lobbying for a reference has tended to become an important
weapon used by companies wishing to resist an unwelcome takeover, particularly where
matters of public interest appear paramount.
With the passage of the Competition Act 1998, the MMC has been replaced (on 1
April 1999) by the Competition Commission, an independent public body. The chairperson
(full-time) and members (part-time) of the Commission are appointed and – as
in the case of the MMC – are drawn from a variety of backgrounds and serve for a
period of eight years. Organised into a series of panel