The Philippine Competition Commission (PCC) is restoring the mandatory 30-day notification period for mergers and acquisitions, tightening the timetable for regulatory scrutiny of major deals.
Starting Oct. 3, parties that sign definitive agreements for notifiable mergers and acquisitions must file their notification forms with the PCC within 30 calendar days and before completing the transaction, under Memorandum Circular No. 26-004. The circular reinstates the standard timeline under the PCC Rules on Merger Procedure.
The move restores a key safeguard in the merger-control process, giving the PCC more time to review potentially market-altering transactions before ownership changes or consolidation take effect.
Under the rules, transactions that meet the mandatory notification thresholds must be reported to the PCC. For 2026, notification is required when both the P9.1 billion size-of-party threshold and P3.8 billion size-of-transaction threshold are met. The PCC may also initiate reviews of below-threshold transactions when competition concerns arise.
Deals covered by definitive agreements signed before Oct. 3, including transactions with steps already taken toward consummation, will have 90 calendar days to file their notification forms.
The PCC said its Rules on Expedited Merger Review will remain suspended while it conducts a broader review of its procedures.
The restored deadline gives businesses a clearer filing timetable while ensuring the PCC can assess potential competition risks before deals are completed and any effects on consumers, suppliers and rival firms become harder to reverse.
