Business
Dye & Durham Provides Update on the United Kingdom's Competition and Markets Authority's Initial Enforcement Order in Respect of TM Group Acquisition
Dye & Durham Provides Update on the United Kingdom's Competition and Markets Authorit...
About this update from Dye & Durham Ltd.
[{"type":"text","content":"\n \n \n \n Dye & Durham Provides Update on the United Kingdom's Competition and Markets Authority's Initial Enforcement Order in Respect of TM Group Acquisition\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n Dye & Durham Provides Update on the United Kingdom's Competition and Markets Authority's Initial Enforcement Order in Respect of TM Group Acquisition\n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n Aug. 30, 2021\n \n /CNW/ - Dye & Durham Limited (\"\n \n Dye & Durham\n \n \" or the \"\n \n Company\n \n \") (TSX: DND), a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals, announced today that the\n \n United Kingdom's\n \n Competition and Markets Authority (\"\n \n CMA\n \n \") has issued its initial enforcement order (the \"\n \n Order\n \n \") against it in respect of its recent acquisition of TM Group (UK) Limited (\"\n \n TMG\n \n \") (the \"\n \n Transaction\n \n \"). In connection with the issuance of the Order, the CMA will be assessing whether the Transaction gives rise to a relevant merger situation for the purposes of Part 3 of the Enterprise Act 2002 (the \"\n \n Act\n \n \") and, if so, whether its statutory duty to refer the Transaction to a Phase 2 assessment set out in section 22 of the Act is triggered. The CMA has 4 months from the\n \n July 8, 2021\n \n , closing of the Transaction, to make such determination, unless such deadline it extended.\n \n \n The Order, which applies to Dye & Durham globally, Dye & Durham (UK) Limited (\"\n \n D&D UK\n \n \") and TMG and is effective\n \n August 27, 2021\n \n , requires that, without the prior written consent of the CMA, the Company, D&D UK and TMG must not , among other things\n \n \n \n take actions that lead to the integration of the business of TMG with the business of the Company,\n \n \n transfer the ownership or control of the Company's business or TMG's business,\n \n \n make any substantive change to the organizational structure of, or t...