GTCR / PR Newswire merger inquiry

The CMA investigated the anticipated acquisition by GTCR Canyon Holdings (Gorkana) of the PR Newswire business.

Statutory timetable

Phase 1 date Action
8 July 2016 Undertakings in lieu accepted
22 June 2016 Decision published
20 June 2016 Decision announced
17 June 2016 Initial enforcement order
31 May 2016 Launch of merger inquiry
16 May to 25 May 2016 Invitation to comment

Phase 1

Undertakings in lieu of reference accepted

8 July 2016: The CMA has accepted undertakings in lieu of reference for the acquisition by GTCR Canyon Holdings (Gorkana) of the PR Newswire business. A copy of the undertakings and the decision are available below.

Undertaking in lieu of reference consultation

22 June 2016: We are consulting on a proposed undertaking in lieu of a reference for the completed acquisition by GTCR Canyon Holdings (Gorkana) of the PR Newswire business.

CMA to consider undertakings offered

21 June 2016: The CMA considers that there are reasonable grounds for believing that the undertakings offered by GTCR, or a modified version of them, might be accepted by the CMA under the Enterprise Act 2002. A copy of the notice is available below.

Reference unless undertakings accepted

20 June 2016: 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.

Initial enforcement order

17 June 2016: The CMA served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on GTCR in relation to the anticipated acquisition by GTCR Canyon Holdings (Gorkana) of the PR Newswire business.

Launch of merger inquiry

31 May 2016: The CMA announced the launch of its merger inquiry by notice to the parties.

Invitation to comment: Now closed

Contact

Please send written representations about any competition issues to:

Maxwell Harris
Competition and Markets Authority
Victoria House
Southampton Row
London
WC1B 4AD

maxwell.harris@cma.gsi.gov.uk

Help us improve GOV.UK

Don’t include personal or financial information like your National Insurance number or credit card details.