§ Mr. Meadowcroftasked the Secretary of State for Trade and Industry if he will refer the proposed takeover by DEC of Systime plc, Leeds, to the Monopolies and Mergers Commission; and if he will make a statement.
§ Mr. Howard[pursuant to his reply, 11 February 1986]: The proposed takeover by DEC of part of the operations of Systime plc does not qualify under the provisions of section 64 of the Fair Trading Act for reference to the Monopolies and Mergers Commission. To qualify for investigation under the Act, a merger or proposed merger must either create or enhance a market share of 25 per cent. or more or involve a target company with assets of over £30 million. Neither of these criteria was satisfied in this case.