Bestway Panacea Holdings Limited / Lexon UK Holdings and Asurex merger inquiry
| Date | 17 April 2023 |
| Decision Date | 17 April 2023 |
| Subject Matter | Mergers |
| Court | Competition and Markets Authority (EW) |
Completed acquisition by Bestway
Panacea Holdings Limited of Lexon UK
Holdings Limited and Asurex Limited
Decision that undertakings might be accepted
ME/7042/23
The CMA’s decision under section 73A(2) of the Enterprise Act 2002 that undertakings
might be accepted, given on 20 June 2023. Full text of the decision published on 28 June
2023.
Introduction
1. On 14 April 2023, Bestway Panacea Holdings Limited (Well) completed the
acquisition of Lexon UK Holdings Limited (Lexon) and Asurex Limited (Asurex) (the
Merger). Well, Lexon and Asurex are together referred to as the Parties.
2. On 15 June 2023, the Competition and Markets Authority (CMA) decided under
section 22(1) of the Enterprise Act 2002 (the Act) that it is or may be the case that
the Merger constitutes a relevant merger situation that has resulted or may be
expected to result in a substantial lessening of competition (SLC) within a market or
markets in the United Kingdom (the SLC Decision).
3. On the date of the SLC Decision, the CMA gave notice pursuant to section
34ZA(1)(b) of the Act to the Parties of the SLC Decision. However, the CMA did not
refer the Merger for a phase 2 investigation pursuant to section 22(3)(b) on the date
of the SLC Decision in order to allow Well the opportunity to offer undertakings to
the CMA in lieu of such reference for the purposes of section 73(2) of the Act.
4. Pursuant to section 73A(1) of the Act, if a party wishes to offer undertakings for the
purposes of section 73(2) of the Act, it must do so within the five working day period
5. The CMA now gives notice, pursuant to section 73A(2)(b) of the Act, to Well that it
considers that there are reasonable grounds for believing that the undertakings
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