Powered by Lexis+®
Jurisdiction(s):
United Kingdom

CMA fines Tereos £25,000 for failing to provide board minutes and documents under section 109 during Phase 2 merger inquiry; plus upcoming UK competition law dates

Published on: 26 September 2024

Published by a LexisNexis Competition expert
Legal News
imgtext
Article summary

Mergers Tereos fined for failure to comply with requirements of CMA information during phase 2 investigation

The CMA has issued a notice, dated 25 September 2024, penalising Tereos SCA and Tereos United Kingdom and Ireland Limited (together, Tereos) under section 110 of the Enterprise Act 2002 for failing to comply with a section 109 notice that required the provision of board minutes and internal documents relating to Board and corporate governance. The CMA levied a £25,000 fine.

  • Tereos did not supply all information sought by the deadline.
  • Board minutes were only submitted after the CMA prompted compliance.
  • Other documents falling within the notice’s scope were not provided.
  • Without further CMA enquiries after the main party hearing, a significant volume of responsive material would not have been produced.
  • Tereos adopted an unjustifiably narrow interpretation when identifying responsive documents, at points contradicting its earlier representations to the CMA; this stance was untenable on any reasonable view, given the context and purpose of the merger inquiry.

For more detailed information, see PSL Competition’s case hub at T&L Sugars/Tereos. Upcoming dates: for forthcoming UK competition developments, refer to the UK Competition calendar...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Popular documents

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Read More Right Arrow

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Read More Right Arrow

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 ...

Read More Right Arrow

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...

Read More Right Arrow