16 June 2015: The CMA has accepted undertakings in lieu of reference under the Enterprise Act 2002 for the completed acquisition by GTCR Canyon UK Investments Limited of Discovery Group Holdings Limited (Gorkana). As a result, the merger will not be referred for a phase 2 investigation. A copy of the undertakings and the decision are available below.
14 April 2015: 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.
27 March 2015: 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 GTCR Canyon UK Investments Limited offers acceptable undertakings to address these competition concerns. The full text of the decision is available below.
2 February 2015: 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 CMA merger inquiry
2 February 2015: The CMA announced the launch of its merger inquiry by notice to the parties.
18 December 2014: An initial enforcement order under Section 72(2) of the Enterprise Act 2002 was put in place against Canyon Holdings Sàrl and GTCR Canyon UK Investments Limited by the CMA. A copy of the order is below: