On 29 March 2012, the Bundeskartellamt published a new guidance document on substantive merger control. The revised guidance document replaces the previous document which was published in 2000. The revision reflects the continual development in the Bundeskartellamt’s merger control practice in recent years, in particular the sharper focus on economic findings and concepts. For instance, the new document places greater emphasis on the necessary appraisal of all relevant conditions in the market. It does not employ a checklist approach. Instead, the focus of examination is to determine how the merger will change market conditions and whether this will be harmful to competition.