Commission opens pre-notification reviews on mergers in the fields of Investment Software, Digital Infrastructure, and Paper Tissues
April 10th, 2026 – Three separate merger notifications were published today in the EU’s Official Journal, each triggering the Commission’s pre-notification review process under the EU Merger Regulation. Third parties have ten days from publication to submit observations to DG Competition
M.12339 – Permira / Warburg Pincus / Clearwater Analytics
Private equity firms Permira (UK) and Warburg Pincus (US) are acquiring joint control of Clearwater Analytics, a US-based cloud software company that provides automated investment data management services to institutional investors. Both acquirers are investment management services firms with broad sectoral portfolios. The Commission is considering employing a simplified procedure treatment, which typically applies where no material competition overlap exists.
M.12348 – SoftBank / DigitalBridge
Japanese technology investment holding company SoftBank is acquiring sole control of DigitalBridge, a US-based specialist digital infrastructure investment firm with assets spanning data centres, mobile towers, fibre networks, small cells, and edge infrastructure. The Commission is also considering a simplified procedure treatment.
M.12078 – Suzano / Kimberly-Clark
Brazilian pulp and paper giant Suzano is acquiring Kimberly-Clark’s (US) international tissue paper division, which covers manufacturing, marketing, distribution, and sales across Europe, the UK, South America, Central America, Africa, the Middle East, and Asia. Unlike the other two deals published today, this transaction is not being considered for simplified procedure, suggesting the Commission may have identified potential competition concerns requiring closer examination.
Additional Notes:
The EU Merger Regulation applies based on turnover thresholds, not on where the companies are incorporated. If the combined worldwide turnover of the merging parties exceeds €5 billion, and the EU-wide turnover of each of at least two of them exceeds €250 million, the Commission has jurisdiction, unless each party achieves more than two-thirds of its EU turnover in the same member state, in which case national authorities take over.
