GovWire

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Phase 2

Contact

Please send written representations about any competition or public interest to general.enquiries@cma.gov.uk.

Administrative timetable

Referral date: 23 December 2022

Statutory deadline: 6 October 2023

• Administrative timetable (PDF, 104KB) (27.7.23)

Case closure summary

18 November 2024: On 31 July 2024, Hitachi Rail completed the sale of the divestment business to Mer Mec S.p.A.. This brings the merger investigation to a close.

• Case closure summary (PDF, 102KB) (18.11.24)

Remedy Group appointed

8 December 2023: The CMA has appointed the Remedy Group.

Stuart McIntosh (Chair), Susan Hankey, Sir Kenneth Parker and Karthik Subramanya.

Final undertakings

7 December 2023: The CMA has accepted final undertakings and additional final undertakings, and the reference has now been fully determined.

• Notice to accept final undertakings (PDF, 142KB) (7.12.23)
• Final undertakings (PDF, 477KB) (7.12.23)
• Notice to accept additional final undertakings (PDF, 124KB) (7.12.23)
• Additional final undertakings (PDF, 178KB) (7.12.23)

Amendments/consents granted (to December 2023 Final undertakings)

• Derogation 8 February 2024 (PDF, 115KB) (22.2.24)

Direction to appoint a hold separate manager

22 November 2023: Pursuant to paragraph 3.5 of the interim undertakings offered by Hitachi Rail, Ltd on 3 August 2023, the CMA directed Hitachi Rail, Ltd to appoint a hold separate manager.

• Directions to appoint a hold separate manager (PDF, 183KB) (29.11.2023)

Notice of proposal to accept final undertakings

17 November 2023: The CMA gives notice of the proposal to accept final undertakings and to accept additional final undertakings and is inviting comments on the proposed draft undertakings by 5pm on Friday 1 December 2023.

• Notice of the proposal to accept final undertakings (PDF, 198KB) (17.11.2023)

• Draft final undertakings (PDF, 516KB) (17.11.2023)

• Notice of the proposal to accept additional final undertakings (PDF, 143KB) (17.11.2023)

• Draft additional final undertakings (PDF, 186KB) (17.11.2023)

Final report

5 October 2023: The CMA has published the final report.

• Final report (PDF, 3281KB) (5.10.23)
• Appendices and glossary (PDF, 251KB) (5.10.23)

4 October 2023: The CMA has announced its final decision.

• Summary of final report (PDF, 218KB) (4.10.23)
• Press notice: Hitachi Rail to sell part of mainline signalling business allowing merger to proceed (4.10.23)

Responses to addendum provisional findings

• Third party response (PDF, 4092KB) (5.9.23)
• Third party response (PDF, 108KB) (5.9.23)

Addendum provisional findings

23 August 2023: The addendum provisional findings outlines the Groups revisions to the provisional SLC finding in the provisional findings report in relation to the supply of communications-based train control signalling systems in the UK. The CMA has provisionally concluded that the anticipated acquisition by Hitachi Rail, Ltd of Thales SAs Ground Transportation Systems Business will not result in a substantial lessening of competition in relation to the supply of communications-based train control signalling systems in the UK.

• Addendum provisional findings report (PDF, 432KB) (23.8.23)

• Notice of addendum provisional findings (PDF, 146KB) (23.8.23)

• Press release: CMA narrows scope of concerns in rail signalling merger (23.8.23)

Directions to appoint a monitoring trustee

8 August 2023: Pursuant to paragraph 3.5 of the interim undertakings offered by Hitachi Rail, Ltd on 3 August 2023, the CMA directed Hitachi Rail, Ltd to appoint a monitoring trustee.

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