Phase 2 CMA reference meaning

In this issue: UK NSI Act UK mergers UK competition policy EU mergers EU antitrust EU Foreign Subsidies Regulation New and updated content Daily and weekly news alerts Caselex UK NSI Act Government consults on proposed reforms to the NSI Act 2021 mandatory notification regime The UK Government has launched a consultation on proposed revisions to the National Security and Investment Act 2021 (Notifiable Acquisition) (Specification of Qualifying Entities) Regulations 2021, which determine the scope of mandatory filings under the NSI Act. This follows the 2024 statutory review of the NARs and engagement through the 2023 Call for Evidence. The Government sets out targeted adjustments intended to keep the regime proportionate and effective at capturing national security risks in sensitive parts of the UK economy, whilst ensuring that the vast majority of transactions remain outside its reach. Key proposals include: New standalone mandatory notification areas: creating two separate categories for...

In this issue: UK mergers UK antitrust UK Competition policy EU antitrust EU State aid EU Digital Markets Act Daily and weekly news alerts New and updated content Caselex UK mergers CMA unconditionally clears Boparan/ForFarmers (Burston and Radstock mills) merger after phase 2 The CMA has published the final report from its phase 2 review of the proposed purchase by Boparan Private Office Limited, via 2 Agriculture Limited (2Agriculture), of ForFarmers UK Limited’s Burston and Radstock feed mills. ForFarmers is a European producer and distributor of animal feed, with its base in the Netherlands. 2Agriculture, part of the Boparan group, is among the UK’s largest poultry feed suppliers by production volume, directing output to Hook 2 Sisters, a Boparan-affiliated business, and to farmers on the open market. Confirming its provisional findings of 18 February 2025, the CMA concluded the deal is not expected to result in an SLC in local meat poultry feed supply,...

In this issue: UK mergers National Investment and Security Act 2021 UK antitrust UK competition policy EU antitrust EU mergers EU Digital Markets Act EU State aid LexTalk®Competition: a Lexis®Nexis community Daily and weekly news alerts Caselex UK mergers Vandemoortele/Délifrance meets the test for reference to a phase 2 The CMA has decided that Vandemoortele Group’s proposed purchase of Délifrance SA satisfies the threshold for a phase 2 referral. Both Vandemoortele and Délifrance supply frozen bakery lines, including croissants and pain au chocolates, to retail and foodservice customers. Those customers bake the products on-site and then sell or serve them to end consumers. At phase 1, the CMA concluded the deal leads to an SLC arising from horizontal unilateral effects in the provision of frozen Laminated Dough (LD) products to retail and foodservice customers across the UK...

CASE HUB ARCHIVED This archived case hub sets out the position as at the judgment dated 18/01/2019; it is no longer maintained. See further, timeline and commentary Case facts Outline J Sainsbury plc and Asda Group Limited appealed two decisions about the procedural timetable for their proposed merger with each other, arising during the CMA’s review. The decisions concerned: the deadlines by which the parties had to respond to a range of working papers; the timing set for the parties’ main party hearing. Parties J Sainsbury plc (Sainsbury’s) and Asda Group Limited (Asda). Competition and Markets Authority (CMA). Background On 12 December 2018, Sainsbury’s and Asda made an application to the Competition Appeal Tribunal (CAT) seeking judicial review of the CMA’s timetable and procedure within its investigation into the proposed merger between the parties (see further, J Sainsbury/Asda). On 19 September 2018, the CMA referred the proposed merger to an in-depth...

Under the Enterprise Act 2002 When assessing mergers, the Competition and Markets Authority (CMA) may accept remedies—undertakings in lieu (UiL)—following a phase 1 review, and may impose remedies after phase 2. At phase 1 the CMA cannot force remedies; instead, the merging parties can propose UiLs to avert a phase 2 probe. The remedies that can be accepted or imposed include: Structural remedies, such as: disposing of all or part of the target business, or the business to be bought, to an appropriate purchaser creating a divestment package from both merging firms, with the buyer retaining elements of each and selling others on retaining the acquired entity while selling the pre-existing business selling critical assets (eg a manufacturing facility or airport take‑off/landing slots) licensing or assigning brands and/or IP rights (a specialist form of structural remedy) Behavioural remedies, for example: price controls commitments...

CASE HUB ARCHIVED This archived case hub reflects the position at the date the transaction was abandoned on 7 January 2016; it is no longer maintained. See the timeline for further details. Case facts Outline of a UK merger investigation into the proposed purchase by Fenland Laundries Limited of the Cleanroom Laundry business of Fishers Services Limited. The deal presented horizontal overlaps in the supply of cleanroom laundry services to customers operating in sterile environments. Latest developments On 7 January 2016, the CMA formally cancelled its phase 2 investigation after the parties announced—and gave assurances to the CMA—that the transaction had been abandoned. Parties Fenland Laundries Limited (Fenland), based in Skegness, Lincolnshire. Fenland operates a joint venture with Berendsen Cleanroom Services Limited (Berendsen) under the Micronclean trademark. Under this joint venture, Fenland serves customers north of a notional line running roughly between London and Anglesey (the North), while Berendsen serves those to the south. The Cleanroom Laundry business of...