Summary
Motorola Solutions, Inc. (MSI) filed an 8-K on May 6, 2016, primarily to disclose that the United Kingdom's Competition and Markets Authority (CMA) has formally begun a review of MSI's acquisition of Guardian Digital Communications Limited, the parent company of Airwave Solutions Limited. The CMA has 40 working days to determine if the acquisition will lead to a substantial lessening of competition in the UK market. Motorola Solutions stated that the commencement of this review does not indicate any substantive concerns and anticipates a positive conclusion by the end of Q2 2016.
Key Highlights
- 1Motorola Solutions' acquisition of Guardian Digital Communications Limited (parent of Airwave Solutions) is undergoing a formal review by the UK's Competition and Markets Authority (CMA).
- 2The CMA has initiated its review as of May 5, 2016.
- 3The CMA's review period is 40 working days, with an expected conclusion by July 1, 2016.
- 4Motorola Solutions expects the CMA review to conclude positively by the end of the second quarter of 2016.
- 5The company emphasized that the initiation of the review does not imply substantive concerns from the CMA.
- 6The acquisition itself was completed on February 19, 2016, through a wholly-owned subsidiary.