London Stock Exchange Group PLC / Quantile Group Limited merger inquiry

The CMA investigated and cleared the anticipated acquisition by London Stock Exchange Group PLC of Quantile Group Limited.

Phase 2

Administrative timetable

Date of referral: 17 May 2022

Statutory deadline: 31 October 2022

Contact

Please send written representations about any competition issues to:

general.enquiries@cma.gov.uk

Final report

26 October 2022: The CMA has cleared the anticipated acquisition by London Stock Exchange Group plc of Quantile Group Limited.

Responses to provisional findings

The responses to the CMA’s provisional findings are below. The deadline for any submissions in advance of the final report is Friday 14 October 2022.

Provisional findings

9 September 2022: The CMA has provisionally cleared the anticipated acquisition by London Stock Exchange Group plc of Quantile Group Limited.

Responses to issues statement

Issues statement

16 June 2022: 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. The deadline for submissions on the issues statement is 5pm, 30 June 2022.

Initial Phase 2 submission

Inquiry group appointed

17 May 2022: The CMA has appointed the Inquiry Group:

Martin Coleman (Chair), Susan Hankey, John Thanassoulis, and Crispin Wright.

Terms of reference

17 May 2022: The CMA has referred the anticipated acquisition by London Stock Exchange Group PLC of Quantile Group Limited for an in-depth investigation

Phase 1

Statutory timetable

Phase 1 date Action
3 May 2022 Decision announced
3 March 2022 to 17 March 2022 Invitation to comment
3 March 2022 Launch of merger inquiry

Reference decision

17 May 2022: The CMA has referred the anticipated acquisition by London Stock Exchange Group PLC of Quantile Group Limited for an in-depth investigation, on the basis that, on the information currently available to it, 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

Reference unless undertakings accepted

3 May 2022: 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.

Launch of merger inquiry

3 March 2022: The CMA announced the launch of its merger inquiry by notice to the parties.

Invitation to comment: closes on 17 March 2022

3 March 2022: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction if carried into effect, will result 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 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.

Published 3 March 2022
Last updated 26 October 2022 + show all updates
  1. Final report, appendix and glossary published.

  2. Response to provisional findings published.

  3. Response to provisional findings published.

  4. Full text of provisional findings published.

  5. Summary of provisional findings and notice of provisional findings published.

  6. Responses to the issues statement published.

  7. Update to terms of reference published.

  8. Issue statement and Initial Phase 2 submission published.

  9. Administrative timetable published.

  10. Full text of phase 1 decision published.

  11. Full text of the decision to refer published.

  12. Terms of reference published.

  13. Reference unless undertakings accepted published.

  14. First published.