Northern Trust -with- BOI Securities Services (The acquisition involves the custody and fund administration sector) [2011] IECompA M11010 (08 March 2011)
The Competition Authority found that the proposed acquisition would not substantially lessen competition in the custody and fund administration sector and cleared the transaction in Phase 1.
- Citation
- [2011] IECompA M11010
- Parties
- Purchaser: Northern Trust Fiduciary Services (Ireland) Limited; Purchaser: Northern Trust (Ireland) Limited; Purchaser Guarantor: The Northern Trust Company; Target: Bank of Ireland Securities Services
- Jurisdiction
- Ireland
- Judgment Date
- 08 March 2011
- Procedural Posture
- Merger Notification / Clearance Decision (phase 1)
- Outcome
- cleared
- Legal Topics
- Merger Control, Custody and Fund Administration Sector
Case Brief
Summary, issues, holding and outcome
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Parties
Northern Trust Fiduciary Services (Ireland) Limited
Purchaser
Northern Trust (Ireland) Limited
Purchaser
The Northern Trust Company
Purchaser Guarantor
Bank of Ireland Securities Services
Target
Procedural Posture
Merger Notification / Clearance Decision (phase 1)
Legal Issues
- 1 Whether the proposed acquisition of Bank of Ireland Securities Services by Northern Trust raises competition concerns in the custody and fund administration sector.
Ratio Decidendi
The Competition Authority found that the proposed acquisition would not substantially lessen competition in the custody and fund administration sector and cleared the transaction in Phase 1.
Court Disposition
cleared
Orders
- The proposed acquisition of Bank of Ireland Securities Services by Northern Trust is cleared.
Full Case Text
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