Legal Updates

On 17 May 2018, the CMA published the Final Report of its Phase 2 Investigation into the completed acquisition by Electro Rent Corporation ("Electro Rent") of Microlease, Inc. and Test Equipment Asset Management Limited ("Microlease"), (together, the "Parties"). The UK Competition and Markets Authority ("CMA") found that the transaction may lead to a substantial lessening of competition ("SLC") in the supply of testing and measurement equipment ("TME") rental services in the UK. The Parties are therefore required to divest Electro Rent's UK business to a suitable purchaser approved by the CMA. A few weeks later, on 11 June, the CMA also announced that it has imposed a penalty on Electro Rent for a failure to comply with a CMA interim order.  

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