Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: UK’s Competition and Markets Authority releases companies from 11 merger remedies, (Oct 16, 2015)
Organizations Mentioned:Secretary of State
By Edward L. Puzzo, J.D.
The United Kingdom’s Competition and Markets Authority (CMA), as part of its program to assess whether past merger and remedies have become unnecessary, has provisionally decided to release the companies concerned from 11 of 13 imposed remedies, the CMA announced today. For the two remaining remedies, one has lapsed and the other will remain in place.
The CMA’s annual plan for 2015-2016 announced a program to reduce burdens on business by looking at 76 structural merger undertakings given by companies prior to 2005 in order to assess whether past merger and market remedies have become unnecessary.
The CMA has also confirmed its advice to the Secretary of State for Business, Innovation and Skills (BIS), as previously indicted, to remove remedies in seven further merger cases and two former monopoly investigations.
Simon Polito, chair of the remedies review group, stated: “As these latest announcements show, we continue to evaluate and remove remedies where they have become unnecessary, eliminating the administrative burden on affected businesses and with the wider aim of allowing us to target our resources on those remedies which are still relevant.”
News: AcquisitionsMergers Antitrust