Business
The United Kingdom's Competition and Markets Authority to Issue Initial Enforcement Order in Respect of TM Group Acquisition
The United Kingdom's Competition and Markets Authority to Issue Initial Enforcement Order...
About this update from Dye & Durham Ltd.
[{"type":"text","content":"\n \n \n \n The United Kingdom's Competition and Markets Authority to Issue 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 \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n Aug. 26, 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 advised Dye & Durham (UK) Limited (\"\n \n D&D UK\n \n \"), a wholly-owned indirect subsidiary of the Company, that the CMA will issue an initial enforcement order against it  in respect of its recent acquisition of TM Group (UK) Limited (\"\n \n TMG\n \n \") (the \"\n \n Transaction\n \n \"). Specifically, 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 CMA has advised that it will be issuing an Initial Enforcement Order prohibiting certain steps from being taken by D&D (UK) and/or TMG pending such preliminary assessment.\n \n \n The Company and D&D UK intend to fully cooperate with this CMA assessment.\n \n \n \n About Dye & Durham\n \n \n \n Dye & Durham Limited is a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals. Dye & Durham provides critical information services and workflows, which clients use to manage their process, information and regulatory requirements. The Company ...