Competition Markets Authority
Date of referral: 9.7.20
Statutory deadline: 23.12.20
Merger to be abandoned
14 September 2020: Taboola has announced that it is to abandon its proposed purchase of Outbrain.
- News story: Digital advertising merger to be abandoned during CMA investigation (14.9.20)
4 August 2020: The issues statement sets out the scope of the inquiry. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions. The deadline for submissions on the issues statement is 4pm, Tuesday 25 August 2020.
Inquiry group appointed
10 July 2020: The CMA has appointed the inquiry group:
Terms of reference
9 July 2020: the CMA has referred the anticipated acquisition by Taboola.com Ltd of Outbrain Inc. for an in-depth investigation.
|26 June 2020||Decision announced|
|29 April 2020||Launch of merger inquiry|
|15 April to 29 April 2020||Invitation to comment|
9 July 2020: The CMA has referred the anticipated acquisition by Taboola.com Ltd of Outbrain Inc. for an in-depth investigation, on the basis that, on the information currently available to it, it is or may be the case that this merger consists of arrangements that are in progress or in contemplation which, if carried into effect, will result in the creation of a relevant merger situation, and that this may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom.
Reference unless undertakings accepted
26 June 2020: The CMA has decided, on the information currently available to it, that it is or may be the case that this merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. This merger will be referred for a phase 2 investigation unless the parties offer acceptable undertakings to address these competition concerns.
- Press release: Merger of digital advertising platforms raises competition concerns (26.6.20)
Launch of merger inquiry
29 April 2020: The CMA announced the launch of its merger inquiry by notice to the parties.
Invitation to comment: closes 29 April 2020
15 April 2020: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.
To assist it with this assessment, the CMA invites comments on the transaction from any interested party.
These comments should be provided by the deadline set out above.
Please send written representations about any competition issues to:
Marta Freire (020 3738 6485)