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UK: CMA to examine Ion’s takeover of Fidessa

 |  June 19, 2018

Britain’s Competition and Markets Authority said on Monday it would examine whether Ion Capital’s proposed acquisition of financial systems firm Fidessa will stifle competition, reported The Financial Times.

In a statement on Monday the Competition and Markets Authority (CMA) said it was considering whether the deal would result in a substantial lessening of competition within any market or markets in the UK. In its offer document in May, Fidessa forecast the deal would go before the CMA but said it did not expect the deal to be the subject of a deeper CMA investigation. It also forecast the deal would close at the start of August.

In April, Fidessa agreed to a £1.5 billion ($2.1 billion) acquisition by Ion, a financial software firm backed by US private equity group Carlyle, ditching a takeover by Swiss banking software business Temenos.

Full Content: Financial Times

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