The CMA has concluded that LKQ's anticipated purchase of
A fast-track Phase 1 investigation by the Competition and Markets Authority (CMA) has confirmed that
LKQ, through
The CMA's investigation found that the merger could reduce competition in the supply of car parts, as well as garage equipment, to independent garages and workshops in 145 local areas and the supply of car parts to national and multi-regional customers across the
The merging businesses conceded that the deal could lead to a significant lessening of competition in these areas and have submitted a divestment proposal to restore the competition that would otherwise be lost in the
Drivers have already been paying
Early on, we identified that this deal could lead to higher prices and worse choice for customers across the
More information can be found on the LKQ /
Notes to editors:
The CMA is required to issue a Phase 1 decision within 40 working days. Using the 'fast track' procedure has allowed the CMA to conclude its Phase 1 investigation within 26 working days of launch, well ahead of the 40 working day deadline for initial merger decisions.
Merging parties are required to formally offer proposed remedies (undertakings in lieu (UILs)) within 5 working days after receiving the CMA's Phase 1 decision and the CMA then decides, within 10 working days after the Phase 1 decision, whether to provisionally accept the UILs offered. The CMA then has 50 working days (subject to an extension of up to 40 working days) to consider whether to finally accept these remedies.
More information on the CMA's fast track procedure can be found in section 7 of Mergers: Guidance on the CMA's jurisdiction and procedure.
LKQ is a US-headquartered company listed on NASDAQ. It has global business divisions in
LKQ entered into an agreement with
All media enquiries should be directed to the CMA press office by email at press@cma.gov.uk, or by phone on 020 3738 6460.
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