Strategic review of merger remedies 2025

Undertakings and orders are the primary means by which the Competition and Markets Authority (CMA) implements remedies to resolve any competition concerns it finds following a merger investigation under the Enterprise Act 2002 (the Act). Remedies can take different forms such as the prohibition of a merger, the divestiture of a business or behavioural commitments to do or refrain from doing certain things.

The CMA has a statutory duty under section 92 of the Act to keep undertakings and orders under review. From time to time, the CMA must consider whether, by reason of any change of circumstances:

• undertakings are no longer appropriate and need to be varied, superseded or one or more parties released; or

• an order is no longer appropriate and needs to be varied or revoked

We are conducting a CMA-initiated strategic review of a number of merger remedies in our portfolio. A strategic review enables the CMA to review and vary, release or revoke remedies efficiently, thereby reducing the regulatory burden on businesses subject to those remedies, and enabling the CMA to focus on monitoring and enforcing those remedies for which there is still a need.

The remedies in this strategic review include:

• 2 remedies relating to the award of rail franchises which have been brought back into public ownership

• 35 divestiture remedies which are over 10 years old and where the only material ongoing obligations are continued separation obligations

The CMA is discharging its duty under Schedule 10 of the Act by publishing a Notice of intention to release (the Notice) such remedies and to consult on that notice for a minimum of 15 days (in the case of the undertakings) or 30 days (in the case of the one order included within the strategic review).

Submit your response to srmr@cma.gov.uk

Please include a non-confidential version of your response that you are happy for the CMA to publish alongside the outcome.

• Abellio East Midlands Limited / The East Midlands Franchise

• Admenta / IPCC Merger

• Aggregate Industries Ltd / Atlantic Aggregates Ltd

• Aggregate Industries Ltd / Foster Yeoman Ltd 

• Asda / Netto

• Blackstone LR Associates (Cayman) IV Ltd / UGC Cinemas Holdings Limited

• Boots Group / Alliance UniChem

• Carlyle Group / Palamon Capital / Integrated Dental Holdings Group and Associated Dental Practices

• Co-operative Group (CWS) Limited / Fairways Group UK Limited

• The Co-operative Group (CWS) Limited / United Co-operative Limited

• Co-operative Group / Lothian Borders and Angus Co-operative Society

• Co-operative Group / Somerfield

• Emap plc / ABI Building Data Limited

• Enterprise Inns plc / Laurel Pub Group Ltd

• FirstGroup and MTR / South Western rail franchise

• Greene King plc / Laurel Pub Holdings Limited – 2004

• Greene King plc / Laurel Pub Holdings Limited – 2006

• Greene King plc / Spirit Pub Company plc

• Hanson plc / Pioneer International Limited

• Inchcape plc / European Motor Holdings plc

• iSOFT Group plc / Torex plc

• Jewson / Build Center

• Johnston Press plc / Local Press Ltd

• Ladbroke Racing (Reading) Ltd / Hilton Group plc

• Lightcatch Ltd / Tote (Successor Company) Ltd

• Midcounties Co-operative / Harry Tuffin Investments

• Nakano UK Holding Limited / Premier Foods Group Limited

• Pendragon plc / Reg Vardy

• Princes / Premier Foods Ltd

• Rexel UK / Wilts Wholesale Electrical Company

• Shell UK Limited / Consortium Rontec Investments LLP

• Schlumberger Limited / The Raytheon Company

• Solway Foods (Boparan Holdings Ltd) / Premier Foods (Brookes and Avana businesses)

• Terra Firma Investments (GP) 2 Ltd / United Cinemas International (UK) Ltd and Cinema International Corporation (UK) Ltd

• Travis Perkins / BSS Group

• Vue Entertainment / Apollo Cinemas

• William Hill plc / Stanley Leisure plc