ICE / Climate Exchange

OFT closed case: Anticipated acquisition by IntercontinentalExchange Inc of Climate Exchange plc

• From: Competition and Markets Authority
• Published: 14 June 2010

• Case type: Mergers
• Case state: Closed
• Market sector: Agriculture, environment and natural resources
• Outcome: Mergers - phase 1 found not to qualify
• Closed: 14 June 2010

Affected market: Emissions trading

No. ME/4545/10

Found not to qualify.

1. IntercontinenalExchange Inc (ICE) notified the above transaction to the OFT by way of a Merger Notice on 21 May 2010. The 20-day statutory deadline expires on 21 June 2010.
2. On the basis of the information available to it, the OFT has decided that the anticipated acquisition of Climate Exchange plc by IntercontinentalExchange Inc does not qualify for investigation under the mergers provisions of the Enterprise Act 2002 (the Act), because neither the UK turnover test nor the share of supply test in section 23 of the Act is met. A relevant merger situation has, therefore, not been created.

Published 14 June 2010