Experian Limited / Credit Laser Holdings (Clearscore)

The CMA investigated the anticipated acquisition by Experian Limited of Credit Laser Holdings Limited (ClearScore)

• From: Competition and Markets Authority
• Published: 25 May 2018
• Last updated: 27 February 2019 — See all updates

• Case type: Mergers
• Case state: Closed
• Market sector: Financial services
• Outcome: Mergers - phase 2 cancellation
• Opened: 25 May 2018
• Closed: 27 February 2019

Phase 2

Administrative timetable

Date of referral: 31.7.18

Statutory deadline: 11.3.19

• Full administrative timetable (updated 1.2.19)

Contact

general.enquiries@cma.gov.uk

Merger reference cancelled

27 February 2019: The CMA has cancelled its merger investigation into Experian’s anticipated acquisition of Credit Laser Holdings Limited (ClearScore)

• Cancellation of merger reference (27.2.19)
• News story: Abandonment of credit-score checking merger (27.2.19)

Provisional findings

• Provisional findings report (4.12.18)
• Appendices and glossary (4.12.18)
• Notice of provisional findings (28.11.18)
• Summary of provisional findings (28.11.18)
• Notice of extension (28.11.18)
• Notice of possible remedies (28.11.18)
• Press release: Merger of credit score firms could reduce competition in sector (28.11.18)

Response to remedies notice

• Experian (14.1.19)

Response to provisional findings

• Third party A (1.2.19)
• Experian (14.1.19)
• Appendices (14.1.19)

Evidence

The publication of the evidence of any party on the CMA’s webpages does not indicate in any way endorsement by the CMA of the views expressed in the evidence or acceptance of that evidence. Publication in this way is designed to assist public understanding of the issues.

Response to issues statement

• Experian / Clearscore (28.11.18)

Response to phase 1 decision

• Experian / Clearscore (28.11.18)

Third party evidence

• Summary of third parties’ views (28.11.18)

Merger notice

• Merger notice (28.11.18)

Issues statement

28 August 2018: The issues statement sets out the scope of the inquiry. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions.

• Issues statement (28.8.18)

Inquiry group appointed

31 July 2018: The CMA appointed the inquiry group on 31 July 2018.

Roland Green (Group Chair), Gareth Davies, Sheila McClelland and David Thomas.

Terms of reference

31 July 2018: The CMA has referred the anticipated acquisition by Experian Limited of Credit Laser Holdings Limited (ClearScore).

• Terms of reference (31.7.18)

Phase 1

Reference decision

31 July 2018: The CMA has referred the anticipated acquisition by Experian Limited of Credit Laser Holdings Limited (ClearScore).

• Decision to refer (31.7.18)
• News story: CMA refers merger of credit score providers for in-depth investigation (31.7.18)

Statutory timetable

Phase 1 date	Action
20 July 2018	Decision announced
23 July 2018	Deadline for phase 1 decision
25 May to 11 June 2018	Invitation to comment
25 May 2018	Launch of merger inquiry

Reference unless undertakings accepted

20 July 2018: The CMA has decided, on the information currently available to it, that it is or may be the case that this merger has resulted or 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. The full text of the decision will be available shortly.

• Full text decision (28.8.18)
• News story: Merger of credit score providers raises competition concerns (20.7.18)

Invitation to comment: now closed

25 May 2018: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result 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.

Launch of merger inquiry

25 May 2018: The CMA announced the launch of its merger inquiry by notice to the parties.

• Commencement of initial period notice (25.5.18)

Published 25 May 2018
Last updated 27 February 2019 + show all updates

1. 27 February 2019

   Cancellation of merger reference published following the companies’ decision to abandon the transaction.

2. 14 January 2019

   The parties' response to the provisional findings and the response to the remedies notice have been published.

3. 28 November 2018

   The following documents have been published: - Notice of provisional findings - Summary of provisional findings - Notice of extension - Notice of possible remedies - Merger notice - Summary of third parties' views - Response to the phase 1 decision - Response to the issues statement - Updated administrative timetable

4. 28 August 2018

   Full administrative timetable, issues statement and full text decision published.

5. 31 July 2018

   Decision to refer published.

6. 31 July 2018

   Decision to refer published.

7. 20 July 2018

   Reference unless undertakings accepted decision announced.

8. 25 May 2018

   First published.