JD Sports and Footasylum merger takes a few steps back

JD Sports and Footasylum merger takes a few steps back

On 19 September 2019, the CMA’s willingness to take action against companies that have completed takeovers was shown when it announced that unless it received satisfactory undertakings from JD Sports Fashion plc and Footasylum plc, it would be commencing an in-depth investigation into the merger. The investigation might even lead the CMA to order the merger to be undone, even though the deal completed on 12 April 2019.

The UK’s voluntary referral regime with mergers means that it is possible, though unusual for mergers to be investigated after they have completed. Even less common is a decision to unwind a merger, although the CMA has also ordered this. For example, it ordered that Tobii’s acquisition of Smartbox Assistive Technology and affiliate Sensory Software Inte

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Market Tracker is a unique service for corporate lawyers housed within Lexis®PSL Corporate. It features a powerful transaction data analysis tool for accessing, analysing and comparing the specific features of corporate transactions, with a comprehensive and searchable library of deal documentation across 14 different deal types. The Market Tracker product also includes news and analysis of key corporate deals and activity and in-depth analysis of recent trends in corporate transactions.