On 5 September 2020, the UK Government accepted undertakings from Gardner Aerospace not to proceed with its proposed acquisition of Impcross, a UK-based manufacturer of components for the aerospace industry (including for military aircraft). Gardner is owned by Shenzhen-listed Ligeance Aerospace Technology. This is a rare case of the UK Government effectively prohibiting a transaction
Brexit has happened. The UK is no longer an EU Member State. What does that mean for competition law in the UK?
Has Anything Changed?
In the short term, nothing will change. Until the end of the transition period set out in the UK Withdrawal Agreement, the rights and obligations of EU law continue to apply just as they did before. That transition period is due to end on 31 December 2020, unless both sides agree to an extension. So far, the UK Government has refused to consider a possible extension and has even sought to legislate against one.
Continue Reading UK Competition Law After Brexit – Plus Ça Change…