UK Competition Minister Gerry Sutcliffe is proposing to accept ‘statutory undertakings’ instead of referring the proposed acquisition of Insys by Lockheed Martin UK to the Competition Commission.
The undertakings from Lockheed Martin UK, which were published in draft for public consultation on
Sutcliffe’s decision reflects advice from the Office of Fair Trading (OFT) on jurisdiction, and representations from the Ministry of Defence (MOD) on how best to remedy the national security concerns raised by the proposed acquisition.
“The OFT has advised that, should I consider it necessary on national security grounds, I can either refer this merger to the Competition Commission or accept undertakings from Lockheed Martin UK in lieu of such a reference,” said Sutcliffe.
“In line with the MOD’s advice, I am proposing to accept from Lockheed Martin UK certain behavioural undertakings which MOD considers are necessary to ensure the protection of programmes and technologies which are important for
A copy of the new undertakings can be found at http://www.dti.gov.uk/ccp/topics2/mergerspi.htm.
The effects are that Lockheed Martin UK will be required to take certain measures to enable the