- Title:
Merger Update : FNZ/GBST - Time:
13:23:42 - Date:
8 Apr 2020 - Category:
Acquisitions and alliances - ID:
2486J
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.
In the event of media enquiries please email Press@cma.gov.uk or call press office on 020 3738 6460.
Merger Update : FNZ/GBST13:23:428 Apr 2020Acquisitions and alliances2486J