Breedon Group plc / Cemex Investments Limited merger inquiry
The CMA investigated the completed acquisition by Breedon Group plc of certain assets of Cemex Investments Limited.
Statutory timetable
| Phase 1 Date | Action |
|---|---|
| 1 December 2020 | Undertakings in lieu of reference accepted |
| 26 August 2020 | Phase 1 decision announced |
| 26 August 2020 | Deadline for phase 1 decision |
| 31 July 2020 | Initial enforcement order |
| 31 July 2020 | Revocation order |
| 1 July 2020 | Launch of merger inquiry |
| 20 January 2020 | Initial enforcement order |
| 9 June to 29 June 2020 | Invitation to comment |
Phase 1
Undertakings in lieu of reference accepted
1 December 2020: The CMA has accepted undertakings in lieu of reference for the completed acquisition by Breedon Group plc’s of certain assets of Cemex Investments Limited.
- (4.12.20)
- (1.12.20)
Undertakings in lieu of reference consultation: now closed
11 November 2020: We are consulting on proposed undertakings in lieu of reference for the completed acquisition by Breedon Group plc of certain assets of Cemex Investments Limited.
- (11.11.20)
- (11.11.20)
Extension of consideration of undertakings in lieu
4 November 2020: The CMA has extended the consideration of undertakings in lieu of reference until 5 January 2021.
- (4.11.20)
CMA to consider undertakings offered
10 September 2020: The CMA considers that there are reasonable grounds for believing that the undertakings offered by Breedon Group plc, or a modified version of them, might be accepted by the CMA under the Enterprise Act 2002.
- (18.9.20)
Reference unless undertakings accepted
26 August 2020: 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.
- (9.10.20)
- (26.8.20)
- Press release: Construction materials deal raises competition concerns (26.8.20)
Directions to appoint a hold separate manager
31 July 2020: Pursuant to an initial enforcement order dated 31 July 2020, the CMA directed Breedon Group plc and Breedon Southern Limited to appoint a hold separate manager.
- (7.8.20)
Initial enforcement order
31 July 2020: The CMA has served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on Breedon Group plc and Breedon Southern Limited in relation to the completed acquisition by Breedon Group plc of certain assets of Cemex Investments Limited.
- (7.8.20)
Revocation order
31 July 2020: The Competition and Markets Authority (CMA) has made a Revocation Order under section 72(4) of the Enterprise Act 2002 in relation to the completed acquisition by Breedon Group plc of certain assets of Cemex Investments Limited. This Order revokes the initial enforcement order that the CMA imposed on 20 January 2020 (as subsequently varied on 11 February 2020) and is without prejudice to the CMA’s ongoing investigation into the transaction.
- (7.8.20)
Launch of merger inquiry
1 July 2020: The CMA announced the launch of its merger inquiry by notice to the parties.
- (1.7.20)
Invitation to comment: now closed
9 June 2020: 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.
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.
Amendments/consents granted:
- (9.11.20)
- (9.11.20)
- (29.10.20)
- (27.10.20)
- (12.10.20)
- (2.10.20)
- (2.10.20)
- (18.9.20)
- (18.9.20)
- (18.9.20)
- (10.9.20)
- (10.9.20)
- (4.9.20)
- (26.8.20)
- (26.8.20)
- (20.8.20)
- (20.8.20)
- (14.8.20)
- (14.8.20)
- (14.8.20)
- (14.8.20)
- (14.8.20)
- (14.8.20)
- (14.8.20)
- (14.8.20)
- (14.8.20)
- (14.8.20)
- (14.8.20)
- (3.8.20)
- (3.8.20)
- (28.7.20)
- (28.7.20)
- (21.7.20)
- (16.7.20)
- (16.7.20)
- (3.8.20)
- (3.8.20)
- (16.7.20)
- (16.7.20)
- (19.6.20)
- (3.8.20)
- (17.6.20)
- (9.6.20)
- (14.5.20)
- (16.4.20)
- (6.4.20)
- (3.4.20)
- (24.3.20)
- (4.3.20)
- (12.1.20)
- (12.1.20)
- (12.1.20)
Directions to appoint a monitoring trustee
18 February 2020: Pursuant to an initial enforcement order dated 22 January 2020, as amended by the Variation Order dated 11 February 2020, the CMA directed Breedon Group plc, Breedon Southern Limited and Cemex Investments Limited, to appoint a monitoring trustee.
- (18.2.20)
Initial enforcement order
On 20 January 2020, the CMA served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on Breedon Group plc, Breedon Southern Limited and Cemex Investments Limited in relation to the proposed acquisition of a portfolio of assets by Breedon Group plc from Cemex Investments Limited.
- (12.2.20)
- (22.1.20)
Contact
Please send written representations about any competition issues to:general.enquiries@cma.gov.uk
Last updated 4 December 2020 + show all updates
-
Decision to accept undertakings published.
-
The CMA accepted the undertakings in lieu of reference for the completed acquisition by Breedon Group plc’s of certain assets of Cemex Investments Limited. Final undertakings published.
-
Notice of consultation and proposed undertakings published.
-
Derogations published.
-
Notice of extension published.
-
Derogation published.
-
Derogation published.
-
Full text of phase 1 decision published.
-
Derogations published.
-
Decision that undertakings might be accepted and derogations published.
-
Decision to consider undertakings announced and derogations published.
-
Derogation published.
-
Summary of phase 1 decision and 2 derogations published.
-
Two derogations published.
-
Derogations published.
-
Directions to appoint a hold separate manager, initial enforcement order and revocation order published.
-
Derogations and variation orders published.
-
Derogations published.
-
Derogation published.
-
4 derogations published.
-
Launch of merger inquiry published.
-
Derogation published.
-
Derogation published.
-
Invitation to comment and derogation published
-
Derogation published.
-
Derogation published.
-
Variation of derogation published.
-
Derogation published.
-
Derogation published.
-
Directions to appoint a monitoring trustee published.
-
Variation order and derogations published.
-
First published.