Derby’s Gardner Aerospace targets Northern Aerospace in £44m acquisition

Gardner Aerospace

Derby-based Gardner Aerospace is aiming to take over Northern Aerospace in a £44m deal subject to approval by the Competition and Markets Authority (CMA)

The Secretary of State for Business, Energy & Industrial Strategy issued a public interest intervention notice on the public interest ground of national security in relation to the anticipated acquisition, which means the Secretary of State will make the final decision on whether this transaction operates, or may be expected to operate, against the public interest.

The Competition and Markets Authority (CMA) is required to submit a report to the Secretary of State in accordance with section 44 of the Enterprise Act 2002 by 13 July 2018.

The report will include the CMA’s assessment of whether it believes that it is, or may be, the case that this transaction, if carried into effect, would result in the creation of a relevant merger situation under the merger provisions of the Act and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market(s) in the United Kingdom for goods or services.

It will also include a summary of any representations the CMA receives which relate to the public interest consideration specified in the PIIN, national security, and which are or may be relevant to the Secretary of State’s decision.