The Competition and Markets Authority has initiated a review of the measures it has taken to resolve the acquisition and has issued the Merger Charter that clarifies how it will investigate.
The agency said it called for evidence of remedies, which will end on May 12, and will also see it host a series of round tables.
Feedback will be used to develop specific suggestions to post a consultation in the fall.
The CMA review will cover three key areas:
- How the CMA deals with remedies, including circumstances where behavioral remedies may be appropriate
- How to use remedial measures to retain the competitive effect of mergers and other customer benefits
- How to make the process of assessing remedial measures as fast and efficient as possible
The move comes after Doug Gurr, former Amazon chief who was appointed interim chairman of the competition agency in January, unexpectedly replaced Marcus Bokkerink as the government pushes its efforts to cut the traditional tape festival.
Sarah Cardell (pictured) remains the Bureau of Competition and Markets, serving as CEO.
Last month, she said, agencies will take action to improve the acquisition approach they focus on – pace, predictability, proportionality and process.
Today, the agency has issued its Merger Charter that “sets clear principles” about how to interact with businesses and their consultants during the merger review, and what we expect from business returns.”
- Conduct a review “as efficient and rapid as possible” and will “seek to reach milestones before possible time limits”
- Simplified investigations “quickly focus on important emerging areas of important concern and reduce other inquiry lines as soon as possible without clear evidence of attention”
- Attend meetings with appropriate business staff at the requested time
- Provide information and evidence in a timely and complete manner according to the required deadline
- As clear as possible in our jurisdiction to remit money and utilize mechanisms (such as guidance, business and consultant outreach courses, as well as explicit interpretations in decision making), which can help businesses become more certain
- Regular updates to businesses regarding status review and issues under investigation
- In a “full and frank way”
- Share relevant information directly with regulators “rather than learning through other channels”
- The goal is to review and focus on the objectives of the areas of concern
- Minimize business burden, “Get reliable results as soon as possible when necessary reviews are conducted”
- Submit a “Strict Advocacy Submission” which focuses on the main issues of potential concern identified by regulators
- Ensure a clear understanding and access to the survey – including timetables, upcoming milestones and issues that may still be concerned
- Ensure that their consultants always promote constructive and timely participation with regulators
