The anticipated acquisition of ICAP by Tullet Prebon is under investigation
The CMA (Competition and Markets Authority) is investigating the anticipated acquisition by Tullett Prebon plc (Tullett) of ICAP plc’s (ICAP) voice and hybrid broking and information businesses.
| Phase 1 date | Action |
|---|---|
| 8 June 2016 | Deadline for phase 1 decision (*) |
| 8 April 2016 | Launch of merger inquiry |
(*) This date is the current statutory deadline by when the decision will be announced. If any change occurs, the information is refreshed as soon as practicable. However, the CMA cannot guarantee that the decision will be announced on or before this current deadline, as the deadline of a given case may change during the merger assessment process due to different reasons.
Phase 1
Launch of merger inquiry
8 April 2016: The CMA announced the launch of its merger inquiry by notice to the parties.
- Commencement of initial period notice (8.4.16)
Details of the proposed transaction
As part of the anticipated transaction, ICAP Newco will hold a 19.9% stake in Tullett. The CMA is also investigating the potential acquisition by ICAP Newco of this stake in Tullett. Further details of the proposed transaction are set out in ICAP’s RNS announcement.
Source: CMA UK
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