The CMA investigated the completed acquisition by Cardtronics Holdings Limited of DirectCash Payments Inc.
Date of referral: 15.5.17
Statutory deadline: 27.10.17
Full administrative timetable (2.6.17)
- Final report (PDF, 1.3 MB) (22.9.17)
- Appendices and glossary (PDF, 1.4 MB) (22.9.17)
- Press release: CMA clears Cardtronics and DirectCash Payments merger (22.9.17)
25 August 2017: The CMA has provisionally cleared Cardtronics’ acquisition of DirectCash Payments.
- Full provisional findings report (25.8.17)
- Appendices and glossary (25.8.17)
- Consumer survey technical note (5.9.17)
- Consumer survey data tables (25.8.17)
- Summary of provisional findings (25.8.17)
- Notice of provisional findings (25.8.17)
- Press release: CMA provisionally clears Cardtronics and DirectCash Payments merger (25.8.17)
7 June 2017: The issues statement sets out the scope of the inquiry. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions.
- Issues statement (7.6.17)
The publication of the evidence of any party on the CMA’s webpages does not indicate in any way endorsement by the CMA of the views expressed in the evidence or acceptance of that evidence. Publication in this way is designed to assist public understanding of the issues.
Response to the phase 1 decision
- Cardtronics/Directcash (13.6.17)
- Merger notice (7.6.17)
Inquiry group appointed
18 May 2017: The CMA appointed the inquiry group on 17 May 2017.
Terms of reference
15 May 2017: The CMA has referred Cardtronics’ merger with DirectCash Payments for an in-depth investigation.
- Terms of reference (15.5.17)
|Phase 1 date||Action|
|7 June 2017||Decision published|
|3 May 2017||Decision announced|
|3 March 2017||Launch of merger inquiry|
|13 February to 27 February 2017||Invitation to comment|
|6 January 2017||Initial enforcement order|
Reference unless undertakings accepted
3 May 2017: The CMA has decided, on the information currently available to it, that it is or may be the case that this merger 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. The full text of the decision is available below.
Launch of merger inquiry
3 March 2017: The CMA announced the launch of its merger inquiry by notice to the parties.
Invitation to comment: Now closed
13 February 2017: The Competition and Markets Authority (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.
Initial enforcement order
6 January 2017: The CMA served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on Cardtronics Plc, Cardtronics Holdings Limited, and DirectCash Payments Inc. in relation to the completed acquisition by Cardtronics Holdings Limited of DirectCash Payments Inc.
- Variation order (23.1.17)
- Initial enforcement order (as varied on 23 January 2017) (23.1.17)
- Initial enforcement order (10.1.17)
Published: 10 January 2017
Updated: 22 September 2017
Opened: 10 January 2017
Closed: 22 September 2017
- Final report published.
- Consumer survey technical note added under ‘Provisional findings’.
- Full provisional findings report published.
- Summary of provisional findings report published.
- Response to the phase 1 decision published.
- Full text decision, merger notice and issues statement published.
- Timetable published.
- Inquiry group appointments added.
- Reference decision published.
- Reference decision announced and terms of reference published.
- Derogation published.
- Decision announced: reference unless undertakings accepted.
- Launch of merger inquiry.
- Derogation published and invitation to comment launched.
- Variation order and amended initial enforcement order published.
- First published.