REG - Competition and Mkts - Merger Update: Cochlear / Oticon Medical

Demant A/SAnnouncement

20/12/2022 08:15

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RNS Number : 2121K  Competition and Markets Authority  20 December 2022

Merger reference decision announced:

 

On 6 December 2022, the CMA decided that it was or may be the case that the
following Merger may be expected to result in a substantial lessening of
competition within a market or markets in the United Kingdom.

 

Anticipated acquisition by Cochlear Limited of the hearing implants business
of Demant A/S, known as Oticon Medical.

 

Pursuant to section 73A(1) of the Act, the Parties had until 13 December 2022
to offer an undertaking to the CMA that might be accepted by the CMA under
section 73(2) of the Enterprise Act 2004 (the Act). On 13 December 2022, the
Parties informed the CMA that they would not be offering any undertakings. The
CMA has therefore decided to refer this Merger for a phase 2 investigation
pursuant to sections 33(1) and 34ZA(2) of the Act.

 

The text of this decision will be placed on the Competition and Markets
Authority's website at https://www.gov.uk/cma-cases
(https://www.gov.uk/cma-cases) as soon as is reasonably practicable.

 

In the event of media enquiries please contact press@cma.gov.uk.

 

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