EU Drafts Merger Overhaul with Innovation Shield for Startups, Excluding Big Tech

EU regulators are advancing a draft overhaul of merger rules, introducing an 'innovation shield' to fast-track antitrust approvals for startup and R&D deals that boost competition, excluding cases where Big Tech or market leaders are acquirers. This first update in over 20 years, driven by telecom lobbying to counter U.S. and Chinese rivals, is set for release in coming weeks with public feedback. Two articles today highlight modest positive sentiment for Europe 50 from potential M&A uptick among smaller European players, though Big Tech constraints limit broader impact.