TORONTO, Dec. 23, 2021 /CNW/ - Dye & Durham
Limited (TSX: DND) ("Dye & Durham" or the "Company"), a leading
provider of cloud-based software and technology solutions designed
to improve efficiency and increase productivity for legal and
business professionals, today announced that the United Kingdom's Competition and Markets
Authority ("CMA") has taken a decision to refer the acquisition of
TM Group (UK) Limited ("TMG") (the "Transaction") for an in-depth
Phase 2 merger investigation.
Dye & Durham closed the acquisition of TMG on July 8, 2021 for total consideration of
approximately £91.5 million.
The CMA has chosen not to accept the remedy proposal offered by
Dye & Durham to address the CMA's perceived concerns. The
Company now looks forward to working with the CMA during its Phase
2 review period and welcomes the opportunity to explain in greater
depth the benefits that will accompany clearance of the
transaction. The Phase 2 review process commenced today and is
expected to conclude by June
2022.
About Dye & Durham
Dye & Durham Limited is a
leading provider of cloud–based software and technology solutions
designed to improve efficiency and increase productivity for legal
and business professionals. Dye & Durham provides critical
information services and workflows, which clients use to manage
their process, information and regulatory requirements. The Company
has operations in Canada, the
United Kingdom, Ireland and Australia, and has a strong blue-chip customer
base that includes law firms, financial service institutions, and
government organizations.
Additional information can be found at www.dyedurham.com.
Forward-looking Statements
This press release may
contain forward-looking information within the meaning of
applicable securities laws. In some cases, but not necessarily in
all cases, forward-looking statements can be identified by the use
of forward looking terminology such as "plans", "targets",
"expects" or "does not expect", "is expected", "an opportunity
exists", "is positioned", "estimates", "intends", "assumes",
"anticipates" or "does not anticipate" or "believes", or variations
of such words and phrases or state that certain actions, events or
results "may", "could", "would", "might", "will" or "will be
taken", "occur" or "be achieved". In addition, any statements that
refer to expectations, projections or other characterizations of
future events or circumstances contain forward-looking statements.
Forward-looking statements are not historical facts, nor guarantees
or assurances of future performance but instead represent
management's current beliefs, expectations, estimates and
projections regarding future events and operating performance.
Forward-looking information is based on a number of assumptions
and is subject to a number of risks and uncertainties, many of
which are beyond the Company's control, which could cause actual
results and events to differ materially from those that are
disclosed in or implied by such forward-looking information. Such
risks and uncertainties include, but are not limited to, the
factors discussed under "Risk Factors" in the Company's most recent
annual information form. Dye & Durham does not undertake any
obligation to update such forward-looking information, whether as a
result of new information, future events or otherwise, except as
expressly required by applicable law.
SOURCE Dye & Durham Limited