For announcement of referral see DTI Press Notice P/2001/92
Reed Elsevier/Harcourt general merger inquiry proposed
acquisition
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 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:
- (a) enterprises carried on by or under the control of Reed Elsevier plc
(a body corporate incorporated in the United Kingdom) will cease to be distinct from enterprises carried on
by or under the control of Harcourt General Inc; 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(1) of the Act, hereby refers
to the Competition Commission ("the Commission") for investigation
and report within a period ending on 28 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.
21 February 2001
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