Aon / Benfield [2008] IECompA m08031 (6 October 2008)
- Status
- Judgment
- Jurisdiction
- Ireland
- Posture
- Merger Notification / Phase 1 Clearance
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Professional case brief
Research organized from the available case record
01
Holding and result
The Competition Authority determined that the proposed acquisition would not substantially lessen competition in any market for goods or services in the State and therefore cleared the transaction at Phase 1.
Court disposition
Cleared (Phase 1)
Orders
- The proposed acquisition by Aon Corporation of Benfield Group Limited is cleared unconditionally.
02
Material facts
Parties
Aon Corporation
AcquirerBenfield Group Limited
Target03
Procedural history
Posture
Merger Notification / Phase 1 Clearance
04
Questions and positions
Legal issues
Whether the proposed acquisition of Benfield Group Limited by Aon Corporation would substantially lessen competition in the market for primary insurance and reinsurance distribution in Ireland.
Party arguments
- Applicant
- The acquisition would not substantially lessen competition in the relevant markets as both parties operate in complementary segments and the combined entity would continue to face competition from other market participants.
- Respondent
- No objections or adverse arguments from respondents are recorded.
05
Court’s reasoning
Legal principles
- 01
Irish Competition Act 2002
A merger may only be prohibited if it would substantially lessen competition in any market for goods or services in the State.
06
Ratio, limits and disposition
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 and therefore cleared the transaction at Phase 1.
Court disposition
Cleared (Phase 1)
- The proposed acquisition by Aon Corporation of Benfield Group Limited is cleared unconditionally.
Source and reliance status
Official court record
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Judgment reading view
Judgment text
The complete available source text.
Court record
Judgment
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BAILII >> Databases >> Irish Competition Authority Decisions >> Aon / Benfield [2008] IECompA m08031 (6 October 2008) URL: https://www.bailii.org/ie/cases/IECompA/2008/m08031.html Cite as: [2008] IECompA m08031, [2008] IECompA m8031 [ New search ] [ Help ] Aon / Benfield [2008] IECompA m08031 (6 October 2008) Page Attachment M08031-Aon-Benfield.public_0.pdf (68.06 KB) (68.06 KB) M08031-Aon-Benfield.public.pdf (68.06 KB) (68.06 KB) Transaction details The proposed acquisition by Aon Corporation of Benfield Group Limited. Economic sector Media merger Primary insurance and reinsurance distribution. No Notification date: Monday, October 6, 2008 Parties Involved Business activities Aon Corporation is a company incorporated in Delaware in the United States and is listed on the New York Stock Exchange. Aon acts as an advisor for both primary insurance and reinsurance, helping clients manage their risks. Benfield Group Limited is a company incorporated in Bermuda and listed on the London Stock Exchange. Benfield's main business is reinsurance distribution. Phonographic Performance (Ireland) Ltd Case Officer Assigned Contact Details Ms Victoria Balaguer Tel: 01-804 5451, email:vb@tca.ie The deadline for any third parties who wish to make submissions regarding the competition aspects of this merger is: Phase 1 Friday, October 17, 2008 Current status Completed Cleared (Phase 1) Decision date: Tuesday, October 21, 2008 Competition and Consumer Protection Commission (Ireland) © BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback | Donate to BAILII URL: https://www.bailii.org/ie/cases/IECompA/2008/m08031.html
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