Danspin A/S / Lawton Yarns Limited merger inquiry

The CMA investigated the completed acquisition by Danspin A/S of certain assets and goodwill of LY Realisations Limited (previously known as Lawton Yarns Limited).

From:
Competition and Markets Authority
Published
26 July 2019
Last updated
12 March 2020 — See all updates
Case type:
Mergers
Case state:
Closed
Market sector:
Textiles
Outcome:
Mergers - phase 1 clearance with undertakings in lieu
Opened:
25 July 2019
Closed:
12 March 2020

Statutory timetable

Phase 1 Date Action
5 November 2019 Decision announced
10 September to 24 September 2019 Invitation to comment
10 September 2019 Launch of merger inquiry
23 July 2019 Initial enforcement order

Phase 1

Undertakings in lieu of reference accepted

12 March 2020: The CMA has accepted undertakings in lieu of reference for the completed acquisition by Danspin A/S of certain assets and goodwill of LY Realisations Limited (previously known as Lawton Yarns Limited).

Undertakings in lieu of reference consultation

30 January 2020: We are consulting on proposed undertakings in lieu of a reference for the completed acquisition by Danspin A/S of certain assets and goodwill of LY Realisations Limited (previously known as Lawton Yarns Limited).

The deadline for comments is 14 February 2020.

Extension of consideration of undertakings in lieu

16 January 2020: The CMA has extended the period for consideration of undertakings in lieu until 13 March 2020.

CMA to consider undertakings offered

19 November 2019: The CMA considers that there are reasonable grounds for believing that the undertakings offered by Danspin, or a modified version of them, might be accepted by the CMA under the Enterprise Act 2002.

Reference decision

5 November 2019: 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.

Directions to appoint a monitoring trustee

24 September 2019: Pursuant to an initial enforcement order dated 23 July 2019, the CMA directed Danspin A/S to appoint a monitoring trustee.

Invitation to comment: now closed

10 September 2019: 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.

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.

Launch of merger inquiry

10 September 2019: The CMA announced the launch of its merger inquiry by notice to the parties.

Initial enforcement order

23 July 2019: The CMA served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on Lawton Yarns Limited (previously known as K72 Limited), and Danspin A/S, in relation to the acquisition by Danspin A/S through Lawton Yarns Limited of certain assets and goodwill of LY Realisations Limited (previously known as Lawton Yarns Limited).

Amendments/consents granted:

Contact

Please send written representations about any competition or public interest to: general.enquiries@cma.gov.uk

Published 26 July 2019
Last updated 12 March 2020 + show all updates

  1. Acceptance decision of undertakings and final undertakings published.

  2. Notice of consultation and proposed undertakings published.

  3. Notice of extension for consideration of undertakings in lieu published.

  4. Derogations published.

  5. Decision document to consider undertakings published.

  6. Derogation published.

  7. Announcement to consider undertakings offered published.

  8. Derogations to the initial enforcement order published.

  9. Reference decision announced.

  10. Derogation published.

  11. Directions to appoint a monitoring trustee published.

  12. Launch of merger inquiry.

  13. First published.