Her Majesty's Treasury - proposed acquisition of additional shares in Lloyds Banking Group
Type of assessment
Informal Review
Reference
37729
Acquirer(s)
Her Majesty's Treasury
Target(s)
Lloyds Banking Group plc
Industry
Banking and financial services
Summary
HMT proposed to acquire additional shares in Lloyds, taking its total interest from 43.4% to up to 77%.
Outcome of assessment
Not opposed
Total review days *
8
Commenced public review
26th May 2009
Date completed
4th June 2009
Market definition
The ACCC considered it unnecessary to define a relevant market.
Competition analysis
As the activities of HMT and Lloyds did not overlap, the ACCC considered that the proposed acquisition was unlikely to substantially lessen competition in any relevant Australian markets.
Review timeline
Date
Event
26th May 2009
ACCC commenced review under the Merger Review Process Guidelines.
4th June 2009
ACCC announced it would not oppose the proposed acquisition.
* Total Review days = Total business days less public holidays and time during which the review was suspended.
