Bestway Panacea Holdings Limited / Lexon UK Holdings and Asurex merger inquiry
The CMA is investigating the completed acquisition by Bestway Panacea Holdings Limited of Lexon UK Holdings Limited and Asurex Limited.
Statutory timetable
| Date | Action |
|---|---|
| 18 August 2023 | Undertakings in lieu of reference accepted |
| 27 July 2023 to 11 August 2023 | Consultation on proposed undertakings in lieu of reference |
| 20 June 2023 | Directions to appoint a Monitoring Trustee |
| 20 June 2023 | CMA to consider undertakings offered |
| 15 June 2023 | Decision announced |
| 26 May 2023 | Launch of merger inquiry |
| 24 April 2023 to 9 May 2023 | Invitation to comment |
| 14 April 2023 | Initial enforcement order |
Phase 1
Undertakings in lieu of reference accepted
18 August 2023: The CMA has accepted undertakings in lieu of reference to a Phase 2 investigation offered by Bestway Panacea Holdings Limited in relation to its completed acquisition of Lexon UK Holdings Limited and Asurex Limited.
- (30.8.23)
- (18.8.23)
Undertakings in lieu of reference consultation: closed
27 July 2023: The CMA is consulting on proposed undertakings in lieu of a reference to a Phase 2 investigation offered by Bestway Panacea Holdings Limited.
- (27.7.23)
- (27.7.23)
CMA to consider undertakings offered
20 June 2023: Bestway Panacea Holdings Limited offered undertakings to the CMA, which involve divesting 7 pharmacy stores. The CMA considers that there are reasonable grounds for believing that the undertakings offered by Bestway, or a modified version of them, might be accepted by the CMA under the Enterprise Act 2002.
- (28.6.23)
Reference unless undertakings accepted
15 June 2023: The CMA has decided, on the information currently available to it, that it is or may be the case that this merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. This merger will be referred for a phase 2 investigation unless the parties offer acceptable undertakings to address these competition concerns.
- (28.6.23)
- (15.6.23)
- Press release: Solutions offered to protect consumers in pharmacy deal (15.6.23)
Launch of merger inquiry
26 May 2023: The CMA announced the launch of its merger inquiry by notice to the parties.
- (26.5.23)
The date of the CMA’s phase 1 decision deadline was incorrect in the commencement notice. The correct date for the deadline is 24 July 2023 and the CMA has updated the notice accordingly.
Invitation to comment: closed on 9 May 2023
24 April 2023: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction has resulted in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.
To assist it with this assessment, the CMA invites comments on the transaction from any interested party. These comments should be provided by the deadline set out above.
Initial enforcement order
14 April 2023: The Competition and Markets Authority (CMA) has served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on Bestway Healthcare Holdings Limited, Bestway Healthcare Finco Limited, Bestway Panacea Holdings Limited, Kericho Holding Limited, Lexon UK Holdings Limited, and Norchem Healthcare Limited. The IEO commenced on 14 April 2023, the day the Parties completed the transaction.
- (17.4.22)
Directions to appoint a monitoring trustee
20 June 2023: Pursuant to the initial enforcement order dated 14 April 2023, the CMA directed Bestway Panacea Holdings Limited to appoint a monitoring trustee.
- (28.6.23)
Amendments / consents granted:
- (28.6.23)
- (28.6.23)
- (1.6.23)
- (24.4.23)
- (18.12.23)
Contact
Send written representations about any competition or public interest issues to general.enquiries@cma.gov.uk.
Updates to this page
Last updated 18 December 2023 + show all updates
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Derogation published.
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Full text decision published.
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Final undertakings published.
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Undertakings in lieu of reference consultation published.
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Full text to consider undertakings, full text of reference unless undertaking accepted, directions to appoint a monitoring trustee and derogations published.
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CMA to consider undertakings offered.
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Phase 1 SCL decision and UIL offer announced
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Derogation published.
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Commencement notice published.
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Invitation to comment and derogation published.
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First published.