When advising on the competition law implications of a corporate transaction, it is important to consider how any competition law issues should be reflected in the sale and purchase agreement and how responsibilities and risks are allocated between the parties. In particular, where any merger control filings are required, the implications of those need to be properly addressed in the conditions precedent and covenants (to determine whether there are any merger control filings required, see further, MJ merger grid—jurisdiction). In addition, parties should consider whether the transaction triggers any other mandatory pre-completion notification or reporting regimes, including notification under Regulation (EU) 2022/2560 on foreign subsidies distorting the internal market (Foreign Subsidy Regulation—FSR) and mandatory reporting obligations under Part 1 of the Digital Markets, Competition and Consumers Act 2024 (DMCCA 2024). Following on from the due diligence, it will also be necessary to consider what warranties may be necessary to address any competition law issues (for more detail on competition law due diligence, see further, Competition law due diligence—checklist). Finally, the competition