Mergers – Exceptions to the duty to refer and undertakings in lieu

Draft guidance consultation document

In October, the OFT published a draft guidance consultation document, “Mergers – Exceptions to the duty to refer and undertakings in lieu”.  The draft proposes significantly to amend the existing guidance on the de minimis exception and also clarifies the OFT’s approach to the assessment of customer benefits.  The undertakings in lieu section contains an important discussion of the upfront buyer mechanism.  The deadline for comments is 15 January 2010.