The CMA is investigating the completed acquisition by Electro Rent Corporation of Test Equipment Asset Management and Microlease Inc.
Date of referral: 19.10.17
Statutory deadline: 4.4.18
Next milestone: Issues statement due November 2017
- Full administrative timetable (8.11.17)
Directions to appoint a monitoring trustee
On 7 November 2017, the CMA directed Electro Rent Corporation, pursuant to the interim order dated 7 November, to appoint a monitoring trustee.
- Directions to appoint monitoring trustee (8.11.17)
On 7 November 2017, the CMA made an interim order under section 81 of the Enterprise Act 2002 applying to Electro Rent Corporation, Electro Rent Europe NV and Team Equipment Asset Management Limited, in relation to the completed acquisition by Electro Rent Corporation of Team Equipment Asset Management Limited. The initial enforcement order of 1 February 2017 will cease to be in force on the date of making this order by virtue of section 72(6) of the Act.
- Interim order (8.11.17)
Inquiry group appointed
The CMA appointed the inquiry group on 25 October 2017.
Terms of reference
19 October 2017: The CMA has referred Electro Rent Corporation’s acquisition of Test Equipment Asset Management and Microlease Inc. for an in-depth investigation.
- Terms of reference (19.10.17)
|Phase 1 date||Action|
|7 July 2017||Decision published|
|14 June 2017||Decision announced|
|18 April to 3 May 2017||Invitation to comment|
|13 April 2017||Launch of merger inquiry|
|1 February 2017||Initial enforcement order|
19 October 2017: The CMA has referred Electro Rent Corporation’s acquisition of Test Equipment Asset Management and Microlease Inc. for an in-depth investigation. The full text of the decision is available below.
- Reference decision (30.10.17)
- News story: In-depth investigation into Electro Rent / Microlease merger (19.10.17)
Notice of extension of statutory period
- Notice of extension (28.9.17)
Undertakings in lieu of reference consultation: now closed
8 September 2017: We are consulting on proposed undertakings in lieu of a reference for the completed acquisition by Electro Rent Corporation of Test Equipment Asset Management and Microlease Inc.
Extension of consideration of undertakings in lieu
8 August 2017: The CMA has extended the consideration of UILs until 19 October 2017.
- Notice of extension (8.8.17)
CMA to consider undertakings offered
28 June 2017: The CMA considers that there are reasonable grounds for believing that the undertakings offered by the parties, or a modified version of them, might be accepted by the CMA under the Enterprise Act 2002. A copy of the decision is available below.
Reference unless undertakings accepted
14 June 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.
- Full text decision (7.7.17)
- News story: Electro Rent / Microlease merger inquiry finds competition concerns (14.6.17)
Invitation to comment: Now closed
18 April 2017: 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 merger inquiry
18 April 2017: On 13 April the CMA announced the launch of its merger inquiry by notice to the parties.
- Commencement of initial period notice (18.4.17)
Initial enforcement order
On 1 February 2017, the CMA served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on Electro Rent Corporation, in relation to the completed acquisition by Electro Rent Corporation of Test Equipment Asset Management and Microlease Inc.
- Derogation 27 February 2017 (3.3.17)
Please send written representations about any competition or public interest concerns to:
Competition and Markets Authority
Published: 6 February 2017
Updated: 8 November 2017
Opened: 2 February 2017
- Administrative timetable, interim order and directions to appoint a monitoring trustee published.
- Reference decision published.
- Inquiry group appointed.
- Reference decision announced and terms of reference published.
- Notice of extension published.
- Undertakings in lieu of reference consultation launched.
- Notice of extension published.
- Full text of the decision and decision that undertakings might be accepted published.
- CMA to consider undertakings announcement added.
- Decision announced: reference unless undertakings accepted.
- Launch of CMA merger inquiry and invitation to comment issued.
- Derogation published.
- Variation order published.
- First published.