Breedon Aggregates / Hope Construction Materials merger inquiry

The CMA investigated the anticipated acquisition of Hope Construction Materials Limited by Breedon Aggregates Limited.

• From: Competition and Markets Authority
• Published: 12 February 2016
• Last updated: 29 July 2016 — See all updates

• Case type: Mergers
• Case state: Closed
• Market sector: Building and construction
• Outcome: Mergers - phase 1 clearance with undertakings in lieu
• Opened: 12 February 2016
• Closed: 27 July 2016

Phase 1 date	Action
27 July 2016	Undertakings in lieu accepted
30 June 2016	Decision published
23 June 2016	Extension of consideration of undertakings in lieu (UILs)
12 April 2016	Decision announced
12 February to 26 February 2016	Invitation to comment
12 February 2016	Launch of merger inquiry

Phase 1

Undertakings in lieu of reference accepted

27 July 2016: The CMA has accepted undertakings in lieu of reference for the anticipated acquisition by Breedon Aggregates Limited of Hope Construction Materials Limited. A copy of the undertakings and the decision are available below.

• UIL acceptance decision (29.7.16)
• Breedon final undertakings (PDF, 5.8MB) (27.7.16)
• News story: CMA accepts Breedon takeover remedy (27.7.16)

Undertaking in lieu of reference consultation

30 June 2016: We are consulting on proposed undertakings in lieu of a reference for the anticipated acquisition of Hope Construction Materials Limited by Breedon Aggregates Limited.

• Notice of consultation (30.6.16)
• Breedon proposed undertakings (30.6.16)

Extension of considerations of undertakings in lieu

23 June 2015: The CMA has extended the consideration of UILs until 18 August 2016.

• Notice of extension (24.6.16)

CMA to consider undertakings offered

26 April 2016: The CMA considers that there are reasonable grounds for believing that the undertakings offered by Breedon Aggregates Limited, 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.

• Notice to consider undertakings offered (30.6.16)
• Press release: CMA to consider Breedon undertakings (26.4.16)

Reference unless undertakings accepted

12 April 2016: 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. The full text of the decision is available below.

• Full text decision (PDF, 1.5MB) (30.6.16)
• Press release: Construction merger faces in-depth investigation (12.4.16)

Invitation to comment

12 February 2016: 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 merger inquiry

12 February 2016: The CMA announced the launch of its merger inquiry by notice to the parties.

• Commencement of initial period notice (12.2.16)

Contact

Please send written representations about any competition or public interest to:

Peter Swan
Competition and Markets Authority
Victoria House
Southampton Row
London
WC1B 4AD

[email protected]

Published 12 February 2016
Last updated 29 July 2016 + show all updates

1. 29 July 2016

   Undertakings in lieu acceptance decision published.

2. 27 July 2016

   Undertakings in lieu of reference accepted.

3. 30 June 2016

   Undertakings in lieu of reference consultation launched and full text decision published.

4. 24 June 2016

   Notice of extension published.

5. 26 April 2016

   CMA to consider undertakings announcement added.

6. 12 April 2016

   Decision announced: reference unless undertakings accepted.

7. 12 February 2016

   First published.