Allied For Startups at FDDay 2025: Roundtable on the Revision of EU Merger Guidelines

On 17 September 2025, at France Digitale Day 2025, we had the privilege to co-organise a roundtable on the revision of the EU Merger Guidelines, together with our member France Digitale.

The discussion brought together founders and investors from across Europe. One message stood out clearly: startups must be at the centre of this reform.

For startups, acquisitions are not just exits – they are a crucial way to scale, recycle capital, and fuel Europe’s innovation engine. Without clear and predictable merger rules, uncertainty risks slowing down investment and weakening competitiveness. Europe needs guidelines that foster trust, certainty, and growth, ensuring that scaling here remains possible.

The roundtable also addressed possible future criteria to assess mergers. It was great to see the European Commission engaging directly with the startup community, listening to the real challenges and gathering direct feedback on possible solutions.

From our perspective at Allied for Startups, the main issues are clear:

• Lack of legal certainty and predictability in how rules are applied.
• Exit markets underdeveloped and fragmented across the EU.
• Overreliance on static metrics like market share thresholds.
• Complex and disproportionate procedures that slow down deals.

That’s why we’re advocating for solutions such as:

• Clearer and simpler rules, including an expanded simplified review track.
• Recognition that acquisitions often fuel innovation and growth, not harm it.
• More focus on dynamic competition and global competitiveness.
• An “innovation imperative” that accounts for efficiency, sustainability, and long-term benefits.

For that reason, Allied for Startups, together with partners across the ecosystem, has called on the Commission in a joint letter to deliver a framework that reflects the realities of founders and investors.

The revision of the Merger Guidelines is not a technical detail. It is a test of Europe’s ability to create the conditions for startups to scale at home.