The Contest and Market Authority has begun reviewing hand-off measures to resolve the acquisition and has announced a merger charter that demonstrates how the investigation will be carried out.
The body also said it would be closed on May 12 for evidence of relief, and a series of roundtables will be held.
Feedback is used to develop specific proposals that will be published for consultation in the fall.
The CMA review covers three important areas:
How CMA approaches remedies including situations where behavioral therapy may be appropriate
How to use remedies to maintain the competitive impact of mergers and other customer benefits
How to make the process of evaluating remedies as fast and efficient as possible
The move came after former Amazon UK head Doug Gurr was appointed interim chair of the contest body in January, and was unexpectedly replaced by Marcus Bokkerink as the government moved forward with its willingness to cut the deficit.
Sarah Caldel (pictured) remains in competition and market authority as CEO.
Last month, she said the body will take action to improve its focused view of acquisitions — pace, predictability, proportionality, process.
Today, Body is opening its merger charter. Under these four principles, this “sets out clear principles” about “the engagement between the business and its advisors during a merger review, and what we expect in return.”
We will conduct a review “as efficient and promptly as possible” and “try to reach milestones as possible prior to legal time limits.”
Streamline your investigation “Fast focus on key emerging areas of potential concerns and stop other investigation lines as soon as possible if no clear evidence of concerns arises.”
Attend meetings with the appropriate business personnel at the requested time
Provide information and evidence in a timely and complete manner, and request deadlines
Be as clear as possible about our jurisdiction duties and take advantage of mechanisms such as guidance, business and advisor outreach sessions, and clear explanations of decision-making.
Provide regular updates to your company's consolidation for review status and issues under investigation
Engage in a “complete and honest way”
“Share relevant information directly with regulators rather than learning it through other channels.”
Targets that address reviewing and focusing areas of concern
“Minimize business burden while conducting the necessary reviews to reach robust results as quickly as possible.”
Submit “Strictly Scope Submissions” focusing on the key issues of potential concerns identified by regulators
Make sure your research is clearly understood and accessible, including timelines, future milestones, and issues that remain potential concerns.
Make sure your advisors are constantly promoting constructive and timely engagement with regulators