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Jurisdiction(s):
United Kingdom
Key definition
Abandonment definition

What does Abandonment mean? Abandonment describes, in pensions practice, steps by an employer to sever or materially reduce its ongoing support for an occupational pension scheme—typically a defined benefit (DB) scheme—so the scheme becomes effectively independent of its sponsor (for example, by removing or replacing the statutory employer with a weak vehicle, leaving no meaningful employer covenant). The term is not defined in legislation or case law; it is a descriptive expression used in regulatory guidance and practitioner discourse. Across England & Wales, Scotland and Northern Ireland, such activity engages The Pensions Regulator’s anti-avoidance regime and may warrant seeking clearance. TPR can issue...

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UK CMA merger: Joseph Ash/W Corbett (Galvanizing) — West Midlands galvanising overlap; UILs rejected, Phase 2 referral; deal abandoned (23 July 2015) [Archived]

Practice notes
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CASE HUB ARCHIVED — this archived hub captures the position as at 23 July 2015, the date the Transaction was abandoned, and it is no longer being maintained. For more, see the timeline and commentary.

Case facts

Outline: UK merger probe into the proposed Acquisition by Ash Limited of W Corbett & Co (Galvanizing) Limited. The deal presented a horizontal overlap in the market for the provision of galvanising services in the West Midlands.

Latest developments

On 23 July 2015, the CMA cancelled its inquiry into the anticipated acquisition after the parties’ announcement that they had withdrawn from the transaction.

Parties

Joseph Ash Ltd (Joseph Ash) is a subsidiary of UK company Hill & Smith Holdings plc. Joseph Ash is among the UK’s leading suppliers of steel finishing services (including galvanising) and runs six UK plants:

  • Bilston (Wolverhampton)
  • Bridgend (South Wales)
  • Chesterfield (Derbyshire)
  • Medway (Kent)
  • Telford (Shropshire)
  • Walsall (West Midlands)

W Corbett (Galvanizing) Ltd (W Corbett) operates a single galvanising facility located in Telford (Shropshire)...

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Web page updated on 27/05/2026

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Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

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