Merger Update : FNZ/GBST

Merger reference decision announced:

On 30 March 2020, the CMA decided that it was or may be the case that the following Merger has resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom.

Completed acquisition by FNZ (Australia) Bidco Pty Ltd of GBST Holdings Limited

Pursuant to section 73A(1) of the Act, Acquirer had until 6 April 2020 to offer an undertaking to the CMA that might be accepted by the CMA under section 73(2) of the Enterprise Act 2004 (the Act). On 6 April 2020 the Acquirer informed the CMA that it would not be offering any undertakings. The CMA has therefore decided to refer this Merger for a phase 2 investigation pursuant to sections 22(1) and 34ZA(2) of the Act.

The text of this decision will be placed on the Competition and Market Authority's web site at https://www.gov.uk/cma-cases as soon as is reasonably practicable.

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