Jurisdiction(s):
United Kingdom

Key definition

IBA definition

What does IBA mean? In legal and finance documents, “IBA” means ICE Benchmark Administration Limited, the Intercontinental Exchange (ICE) group entity that administers regulated financial benchmarks and is authorised by the UK Financial Conduct Authority (FCA). Lawyers use “IBA” when specifying interest rate benchmarks, screen pages, methodologies and fallback provisions in loan, bond and derivatives documentation. IBA was the administrator of LIBOR; following its cessation, it has published certain “synthetic” LIBOR settings under FCA direction and continues to administer other benchmarks, including ICE Swap Rate and the ICE Term SONIA Reference Rates. “IBA” is not a statutory term; it is a descriptive abbreviation commonly defined...

CMA Phase 2 unconditional clearance: Alliance Medical’s acquisition of IBA Molecular’s UK FDG-18 business under the failing firm defence (2014)

Published by a LexisNexis Competition expert

Practice notes

CASE HUB ARCHIVED

This archived case hub sets out the position as at the decision date of 15 August 2014 and is no longer maintained. For additional detail, see the timeline, commentary and related cases below.

Case facts

Outline UK merger review into the completed purchase by Alliance Medical Molecular Imaging Limited of the assets of IBA Molecular UK Limited. The deal creates a horizontal overlap in the supply of radioactive tracers used for cancer diagnosis. The Transaction was cleared on the basis of the failing firm Defence.

Latest developments

On 15 August 2014, the CMA issued its final decision, approving the merger without conditions. The CMA determined that IBA was a failing firm and, absent the merger, would have left the market and shut its facility—under that scenario, customers would have faced the same supplier options as they do now.

Parties

Alliance Medical Molecular Imaging Limited (Alliance Medical) is among Europe’s leading independent medical imaging providers, delivering diagnostic imaging services across the UK, the Republic of Ireland, Italy, Spain, the Netherlands and Scandinavia. Alliance is based in the UK and is owned jointly by management and financial institutions...

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Web page updated on 21/05/2026

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