Leads the firm’s International Antitrust & Competition practice, and co-leads the firm’s Artificial Intelligence (AI) practice.
With more than 28 years of experience, represents multinationals, sovereign wealth funds and financial institutions in complex multijurisdictional merger control, foreign direct investment (FDI)/national security and foreign subsidies investigations, in order to get transformational deals approved by competition authorities, governments and regulators.
Transactional representations include strategic acquisitions, joint ventures, collaborations, restructurings, special situations and other financial investments (transactional and contentious) across industries, including technology, energy, transportation, financial services, healthcare, chemicals, basic materials, utilities, fast moving consumer goods (FMCG), media and sports.
Defends clients and advises complainants/third parties in behavioural antitrust and digital markets (Digital Markets Act (DMA), Digital Markets, Competition and Consumers Act (DMCCA)), State aid and EU Foreign Subsidies Regulation investigations, as well as market studies and sector inquiries.
Chambers UK 2026 commends Ms. Garrod “for merger control work she is amazing and so sharp. She's also a strategic thinker and super great to work with.” She is highlighted by Chambers Global 2026 as “a difference-maker when it comes to regulatory matters, particularly where the situation is novel or nuanced and there is limited precedent.” Chambers Europe 2025 notes that “Davina Garrod is very client-focused, a thought leader and very keyed into emerging competition trends.”
Recognized by The Legal 500 for her “encyclopedic understanding of competition and merger control laws” and her “in-depth understanding of the regulatory landscape in markets,” Davina is also acknowledged as a Leading Foreign Investment lawyer for her representations in complex national security investigations, including the first retroactive call-in under the UK National Security & Investment Act (NSIA), the first NSIA Judicial Review and appeal, and high-profile FDI Phase 2 mitigation cases in various jurisdictions, including the United Kingdom (UK), Germany, Sweden (on appeal), France and Italy.
Davina also advises on:
Abuse of dominance investigations by the European Commission (EC), Competition & Markets Authority (CMA), Office of Communications (Ofcom), Financial Conduct Authority (FCA) and Office of Gas & Electricity Markets (Ofgem) (Art. 102/Ch.II CA98).
Investigations under the EU DMA and UK DMCCA.
Cartel, information-exchange and other behavioural investigations by the EC, CMA, Ofcom, FCA and Ofgem (Art.101/Ch.I CA98).
Other investigations by government agencies and regulators, including under the EU Foreign Subsidies Regulation (FSR), UK National Security & Investment Act 2021 and other national security/FDI regimes, and under the public interest provisions of the Enterprise Act 2002, and EC State aid and UK subsidies rules.
Competition/regulatory appeals/judicial review, litigation funding, private damages claims and class actions before the Competition Appeal Tribunal (CAT)/courts.
During her secondment to a global financial institution, Davina led on antitrust and regulatory investigations. She has worked in Washington, D.C., where she represented technology, defence, shipping and pharmaceutical/life sciences companies on significant strategic transactions, produced an econometric study in the context of parallel U.S./EU antitrust litigation and participated in International Competition Network merger control projects. She has also worked in Brussels and has been seconded to the UK communications regulator, where she worked on merger investigations and wrote the government’s study into digital television (TV) and analogue switch-over.
International Merger Control – Strategic Transactions
International Merger Control – Strategic Transactions
Representing Middle Eastern and Asian Sovereign Wealth Funds in multiple global transactions in the technology, energy, transportation and financial services sectors.
Representing Energy Equation Partners in multiple acquisitions of European wholesale and retail energy assets, with Stonepeak and Ara Partners.
Represented LetterOne in the $11.2 billion reverse takeover of Harbour Energy PLC.
Represented TGS ASA in the $2 billion takeover of listed peer PGS ASA.
Represented Kingston Technology in its $18 billion acquisition of Toshiba Memory Corporation, alongside consortium members Bain Capital, SK Hynix, Hoya, Apple and Seagate Technology.
Represented the Abu Dhabi Investment Authority (ADIA) in its $ 14 billion acquisition of McAfee Corp. as part of a consortium including Advent International, Permira, Crosspoint, GIC and Canadian Pension Plan Investment Board.
Represented Olin Corp. in its strategic Blue Water Alliance joint venture with Mitsui & Co.
Represented SLB (Schlumberger) in multiple cross-border transactions requiring merger control and foreign investment approvals around the world.
Represented Macquarie and Siemens in the creation of Calibrant JV, which originates, operates and finances Energy-as-a-Service (EaaS) projects.
Advised a major global airline on a complex joint venture requiring multiple merger clearances.
Advised a leading energy company owned by a Chinese state-owned enterprise (SOE) in multiple merger investigations into an acquisition of a global energy company.
International Merger Control – Financial Transactions
Representing Middle and Far Eastern sovereign wealth funds in an array of acquisitions and investments in the technology, energy, retail, financial services, communications, pharmaceuticals, life sciences, chemicals, infrastructure and transportation sectors.
Representing a leading global private equity (PE) house on its $4.4 billion acquisition of GDS Travelport, requiring numerous merger approvals globally.
Representing a global financial institution on its $3 billion acquisition of Cubic Corporation, achieving multiple merger and national security/FDI approvals.
Representing a major activist investor in the disposal of its $2 billion stake in Clariant to SABIC.
Restructurings
Representing London & Valley Water (a consortium of financial institutions/funds) in the competition law and regulatory implications of the restructuring of Thames Water.
Representing Strategic Value Partners and other lenders in the Chapter 11 bankruptcy (including the $1.1 billion debtor in possession (DIP) financing) and restructuring of global automotive leader Marelli Holdings Co. Ltd.
Representing Apollo Global Management, Inc. in the Chapter II bankruptcy (including $700 million DIP financing) and restructuring of Scandinavian Airlines (SAS).
Representing Apollo Capital Management, Inc. in the Chapter II bankruptcy, and concomitant merger control and foreign investment reviews in relation to the restructuring of Avaya Holdings Corp.
Representing bondholders in numerous merger control, foreign investment and sectoral regulatory reviews relating to the restructurings of Travelport, Cineworld, Frontier Communications, Digicel, Fortenova, GenesisCare, Premier Oil (now Harbour Energy), Noble Corp, Valaris, Avanti Communications, Premier Oil and Seadrill (now Paratus Energy).
Advising a consortium of banks in the restructuring of Agrokor, the leading company in the Adria region comprising about 30% of Croatian gross domestic product (GDP).
Represented 80 financial institutions holding c. $33 billion in bonds in the restructuring of the Icelandic banks, including advising on state aid.
Represented the noteholders of Wind Hellas, a Greek telecommunications operator, on a €3.2 billion debt restructuring via a prepackaged administration sale and on a €1.8 billion mezzanine debt-equity swap.
Third Party/Complainant – Transactional
Represented a remedy-taker in the CMA’s in-depth Phase 2 merger investigation of the £16.5 billion merger of Vodafone and Three (UK).
Represented an interested party in multiple merger investigations into Microsoft’s $69 billion acquisition of Activision Blizzard.
Advised on notable activism campaigns involving investments and targets of significant scale and prominence, including the proposed take private transaction of Toyota Industries Corporation by Toyota Fudosan Co. Ltd., the real estate arm of the Toyota Group, the London Stock Exchange Group plc, Toshiba Corporation, BP Plc and Rio Tinto Group
Represented a complainant in the EC’s merger investigation into the proposed joint venture between Tata and ThyssenKrupp (c. €15 billion).
Represented an interested party in Fox’s attempted acquisitions of Sky, Disney’s $71 billion acquisition of Fox and Comcast’s $39 billion acquisition of Sky.
Represented a global financial institution in Deutsche Börse’s attempted acquisitions of London Stock Exchange (LSE) (€29 billion) and New York Stock Exchange (NYSE)-listed Euronext (€9 billion).
National Security, Foreign Investment & Foreign Subsidies
Representing an investor in the first retroactive call-in, High Court judicial review, and Court of Appeal proceedings (now on appeal to the UK Supreme Court) under the NSIA 2021.
Representing acquirers in more than 30investigations, including three call-ins and Final Orders, by the Secretary of State under the NSIA 2021.
Representing acquirers in Phase 2 mitigation cases (and appeals) in France, Germany, Italy, Sweden and the UK.
Representing acquirers in investigations pursuant to the EU Foreign Subsidies Regulation, and counselling large PE firms and sovereign wealth funds on EU FSR compliance.
Representing acquirers, investors and targets across sectors on cross-border national security and foreign investment investigations in more than 50 FDI jurisdictions in Europe, Asia, the Americas and Australasia.
Advising investors on the Enterprise Act public interest regime and the UK NSIA 2021.
Part of an expert panel assisting the UK government on the NSIA 2021.
Digital Platforms, AI & Ecosystems, representing OpenAI in competition authority reviews and investigations.
Advising digital platforms on Strategic Market Status (SMS) and Gatekeeper designations and concomitant interoperability and other obligations/conduct requirements under the UK (DMCCA) and EC (DMA) regimes, respectively.
Represented Piraeus and Alpha Banks on financial technology fintech transactions, including in relation to merchant acquiring services.
Advising a global platform on the European Digital Strategy, EU and UK AI policy and CMA investigations into digital markets.
Represented a leading technology company on the creation of a full-function joint venture and patent pool.
EU/UK Abuse of Dominance Investigations
Representing a global standard essential patent (SEP) holder before the EC in an Article 102 investigation against a Gatekeeper.
Representing a NASDAQ listed technology company in the EC’s Article 102 investigation into abusive Appstore rules for music streaming providers, culminating in a EUR1.84 billion fine being imposed on Apple.
Representing a listed technology company in several EC and CMA behavioural investigations against a Gatekeeper.
Representing a global SEP holder before the EC in an Article 102 investigation against a Gatekeeper.
Representing a global technology platform in various EC Article 102 and UK CMA Chapter II antitrust investigations against a Gatekeeper.
Representing a global platform-neutral digital services provider in EC investigations into data practices and app store activities.
Represented a global holder of SEPs in EC antitrust investigations of Samsung and Motorola.
EU/UK Cartel Investigations & Litigation
Representing Lukoil in two Article 267 References before the Court of Justice of the EU pertaining to refusal to supply and margin squeeze.
Representing an SEP holder against a Gatekeeper in a FRAND case before the UK Court of Appeal and Supreme Courts.
Representing a third party in the UK CMA’s behavioural investigation into the Atlantic Joint Business Agreement between American Airlines, members of International Consolidated Airlines Group (British Airways, Iberia and Aer Lingus) and Finnair under Chapter I of the Competition Act 1998.
Defended a major Asian manufacturer in the EC’s cartel investigations relating to the automotive industry, including advising on leniency, settlement and follow-on damages claims.
Represented a global financial institution in the EC antitrust investigation into credit default swaps.
Represented a leading supermarket in a high-profile competition law damages action in the High Court against Visa for unlawful interchange fees contrary to Article 101(1) TFEU.
Communications/Competition/AI Law
Representing a leading telecommunications infrastructure and equipment company on all aspects of EU/UK competition, communications and AI laws.
Represented a leading investment bank in connection with all aspects of EU/UK telecoms investments, regulation (e.g., significant market power designations) and infrastructure roll-out.
Acted for an incumbent, vertically integrated communications operator in multiple jurisdictions on network-sharing, spectrum allocation, over-the-top (OTT) services and competition law.
Advising an investor in relation to pan-European telecoms consolidation (e.g., Liberty/Vodafone) and intra-country mobile network operator (MNO) consolidation (e.g., Hutchison/Telefonica UK).
EU/UK Regulatory/Compliance
Designed and implemented global competition law compliance programs for leading companies in the energy, technology, media and telecom (TMT), AI, financial services, heavy industries, chemicals and health care/pharmaceutical sectors.
Counselling financial institutions, technology companies and trade associations on information-exchange, data-sharing and other forms of horizontal cooperation.
Advising corporates and financial institutions on all aspects of Brexit, including constitutional and legal challenges, and the evolution of the UK’s relationship with the EU.