For announcement of referral see DTI Press Notice P/2000/852
15 December 2000
BASF AG/TAKEDA CHEMICAL INDUSTRIES LIMITED: REFERRAL TO
THE COMPETITION COMMISSION
Terms of Reference
Whereas it appears to the Secretary of State that it is or may be the
fact that arrangements are in progress or in contemplation which, if carried
into effect, will result in the creation of a merger situation qualifying
for investigation, as defined in section 64(8) of the Fair Trading Act
1973 ("the Act"), in that:
- enterprises carried on by or under the control of BASF AG (one at
least of which is carried on in the United Kingdom) will cease to be
distinct from enterprises carried on by or under the control of Takeda
Chemical Industries Limited; and
- the value of the assets to be taken over exceeds 70 million.
Now, therefore, the Secretary of State, in exercise of his powers under
sections 64, 69(2) and 75 of the Act, hereby refers to the Competition
Commission ("the Commission"), for investigation and report
within a period ending on 7 May 2001, the following questions:
- whether arrangements are in progress, or in contemplation as described
in paragraph (a) above, which, if carried into effect, will result in
the creation of a merger situation qualifying for investigation;
- if events so require, whether the actual results of those arrangements
are the creation of such a situation; and
- if so, in either case, whether the creation of that situation may
be expected to operate or (if events so require) operates against the
public interest.
In relation to the questions in paragraphs (i) and (ii) above the Commission
shall exclude from consideration one of paragraphs (a) and (b) of section
64(1) of the Act if they find the other satisfied.
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