14th Jan 2016 12:20
LONDON (Alliance News) - The UK Competition and Markets Authority Thursday said it would not be referring the acquisition of Jordan Publishing Ltd by RELX (UK) Ltd, trading as LexisNexis, for an in-depth phase 2 investigation.
The CMA had been investigating the acquisition to determine whether it would lead to a substantial lessening of competition in the UK.
However, in September LexisNexis offered to sell one title in each segment that had been identified by the CMA, as well as 3 additional family law titles and to also license some family law precedents to Bloomsbury Publishing PLC.
The CMA said it had carefully assessed these proposed undertakings, including assessing the suitability of Bloomsbury Publishing as a proposed purchaser. It said it was "satisfied that the undertakings will resolve the competition concerns identified and that Bloomsbury Publishing, as the agreed purchaser, will compete against LexisNexis in relation to the supply of legal information in the family law practice area."
Shares in RELX were down 1.7% at 1,160.00 pence Thursday afternoon, whilst Bloomsbury Publishing was down 3.6% at 146.76 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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