The CMA investigated the completed acquisition by CALA 1 Limited of Banner Homes plc.

Administrative timetable

Phase 1 Action
27 June 2014 Decision published
18 June 2014 Decision announced
25 May 2014 Release from initial undertakings
22 April 2014 – 2 May 2014 Invitation to Comment
17 April 2014 Launch of merger enquiry
31 March 2014 Initial undertakings

Phase 1

CMA clearance decision: 18 June 2014

The CMA announced its clearance decision on 18 June 2014. The full text is available below:

Release from initial undertakings: 25 May 2014

In view of the detailed submissions made by CALA on the disproportionate that continued application of the initial undertakings will give rise to, and the current stage of the CMA’s review of the completed acquisition of Banner, the CMA released CALA from the initial undertakings.

Invitation to Comment: Now closed

The CMA is considering whether it is or may be the case that this transaction has resulted 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 has resulted, or 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 OFT merger inquiry: 17 April 2014

The CMA announced the launch of its merger inquiry by Notice to the parties 17 April 2014.

Initial Undertakings: 31 March 2014

A copy of the non-confidential version of the initial undertakings accepted on the above date is below:

On 23 May 2014, the CMA released CALA from the Initial Undertakings (see above)


Please send written representations about any competition or public interest issues to:

Peter Swan

Competition and Markets Authority
Victoria House
Southampton Row

Published 27 June 2014