Gardner Aerospace Holdings Limited / Impcross Limited merger inquiry
The CMA investigated the anticipated acquisition by Gardner Aerospace Holdings Limited of Impcross Limited.
Statutory timetable
| Phase 1 date | Action |
|---|---|
| 8 September 2020 | Undertakings accepted by Secretary of State for Business, Energy, & Industrial Strategy |
| 17 June 2020 | BEIS publication of CMA report and consultation on draft undertakings |
| 2 March 2020 | Report delivered to the Secretary of State for Business, Energy & Industrial Strategy |
| 6 December to 20 December 2019 | Invitation to comment on competition and public interest |
| 5 December 2019 | Secretary of State for Business, Energy & Industrial Strategy issued a public interest intervention notice |
Phase 1
Undertakings accepted by Secretary of State
8 September 2020: The Secretary of State for Business, Energy, & Industrial Strategy announced that he had accepted statutory undertakings from Gardner Aerospace confirming that Gardner Aerospace no longer intends to acquire Impcross Limited. A copy of the decision notice and signed undertakings can be found below.
Undertakings being considered by the Secretary of State
17 June 2020: The Secretary of State for Business, Energy & Industrial Strategy (BEIS) announced that they will consult on undertakings offered by Gardner Aerospace Holdings Limited regarding the abandonment of the transaction.
CMA reports to the Secretary of State
2 March 2020: The CMA has delivered its report to the Secretary of State.
Public interest intervention notice
5 December 2019: The Secretary of State for Business, Energy & Industrial Strategy (the Secretary of State) issued a public interest intervention notice (PIIN) on the public interest ground of national security in accordance with sections 42(2) and 58(1) of the Enterprise Act 2002 (the Act) in relation to the anticipated acquisition by Gardner Aerospace Holdings Limited of Impcross Limited (the Transaction). This means that the Secretary of State will decide on whether this transaction operates, or may be expected to operate, against the public interest and should be referred to a phase 2 assessment, taking into account both competition and public interest issues.
The Competition and Markets Authority (CMA) is required to submit a report to the Secretary of State on this Transaction in accordance with section 44 of the Enterprise Act 2002 by 2 March 2020.
The report will include the CMA’s assessment of whether it believes that it is, or may be, the case that this Transaction, if carried into effect, would result in the creation of a relevant merger situation under the merger provisions of the Act and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market(s) in the United Kingdom for goods or services. It will also include a summary of any representations the CMA receives which relate to the public interest consideration specified in the PIIN, national security, and which are or may be relevant to the Secretary of State’s decision.
Invitation to comment on competition and public interest: now closed
To assist with their assessment, the CMA invites comments on the impact of the transaction from any interested party on competition and public interest considerations with responses due by 20 December 2019.
Contact
Please send written representations about any competition issues to general.enquiries@cma.gov.uk.
Updates to this page
Last updated 9 September 2020 + show all updates
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A hyperlink to the Department for Business, Energy & Industrial Strategy’s proposed acquisition decision has been added to the page.
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A link to the CMA report and Department for Business, Energy & Industrial Strategy consultation on draft undertakings has been added to the page.
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Report delivered to the Secretary of State
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First published.