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OFT considers Sports Direct offer for JJB acquisition
12 May '09
4 min read
5. Section 27(5) of the Act also gives the OFT the ability to treat a series of transactions between the same parties or interests as having occurred simultaneously on the date on which the latest of them occurred.
6. Undertakings in lieu of reference - under section 73 of the Enterprise Act, the OFT may, instead of making a reference to the Competition Commission, and for the purpose of remedying, mitigating or preventing the substantial lessening of competition concerned, or any adverse effect which has or may have resulted from it or may be expected to result from it, accept from such of the parties concerned as it considers appropriate undertakings to take such action as it considers appropriate. The OFT is required to consult publicly before accepting any such undertakings.
7. Upfront buyer - the OFT considered that, given the limited number of potential purchasers that might be interested to acquire the divested stores and who would be able to do so in the five local areas, the divestiture of these stores should be made to a suitable purchaser approved by the OFT. This means that the OFT will consult publicly on the suitability of the proposed purchaser, as well as any other aspects of the draft undertakings, during the public consultation period.
6. Undertakings in lieu of reference - under section 73 of the Enterprise Act, the OFT may, instead of making a reference to the Competition Commission, and for the purpose of remedying, mitigating or preventing the substantial lessening of competition concerned, or any adverse effect which has or may have resulted from it or may be expected to result from it, accept from such of the parties concerned as it considers appropriate undertakings to take such action as it considers appropriate. The OFT is required to consult publicly before accepting any such undertakings.
7. Upfront buyer - the OFT considered that, given the limited number of potential purchasers that might be interested to acquire the divested stores and who would be able to do so in the five local areas, the divestiture of these stores should be made to a suitable purchaser approved by the OFT. This means that the OFT will consult publicly on the suitability of the proposed purchaser, as well as any other aspects of the draft undertakings, during the public consultation period.
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