Citigroup / Legg Mason [2005] IECompA m05049 (11 August 2005)

Citigroup / Legg Mason [2005] IECompA m05049 (11 August 2005)

The Competition Authority determined that the proposed acquisition would not substantially lessen competition in any market for goods or services in the State.

Parties
Acquirer: Citigroup, Inc.; Target: Legg Mason, Inc.
Jurisdiction
Ireland
Judgment Date
11 August 2005
Procedural Posture
Merger Notification / Phase 1 Preliminary Investigation
Outcome
Cleared
Legal Topics
Merger Control, Capital Markets, Broker Dealer Business Acquisition
Competition Law Merger Control Capital Markets Broker Dealer Business Acquisition

Case Brief

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Parties

Citigroup, Inc.

Acquirer

Legg Mason, Inc.

Target

Procedural Posture

Merger Notification / Phase 1 Preliminary Investigation

Legal Issues

  1. 1 Whether the proposed acquisition by Citigroup of Legg Mason's capital markets and private client broker-dealer business would substantially lessen competition in the relevant market.

Ratio Decidendi

The Competition Authority determined that the proposed acquisition would not substantially lessen competition in any market for goods or services in the State.

Court Disposition

Cleared

Orders

  • The proposed acquisition by Citigroup of Legg Mason's capital markets and private client broker-dealer business is approved.