The CMA has provisionally found that Dye & Durham\u2019s acquisition of TMG, which closed in July 2021, would lessen competition in the UK property search services market. The CMA also asserts that the only effective way to address the issues it has identified would be for Dye & Durham to sell TMG to a third party. Lastly, the CMA press release gives the erroneous impression that Dye & Durham failed to notify the CMA regarding the transaction when in fact there was no obligation to do so under applicable UK law, which provides only for voluntary notification.<\/p>\n
Dye & Durham disagrees with the CMA\u2019s provisional findings and is evaluating its potential options. Dye & Durham complies with all laws and regulations in every market in which it operates. The Company has exercised every best effort to help the CMA with its review of the transaction, explain its benefits and offer a remedy proposal and is ready to continue to work collaboratively with the CMA going forward.<\/p>\n
For the twelve months ended March 31, 2021, TMG\u2019s Adjusted EBITDA was approximately \u00a37.7 million.<\/p>\n
About Dye & Durham<\/strong> For further information: Dye & Durham Investor Relations, Ross Marshall, Phone: (416) 526-1563, E-mail: ross.marshall@loderockadvisors.com<\/p>\n","protected":false},"excerpt":{"rendered":" The CMA has provisionally found that Dye & Durham\u2019s acquisition of TMG, which closed in July 2021, would lessen competition in the UK property search services market. The CMA also…<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[1],"table_tags":[],"class_list":["post-2784","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"yoast_head":"\n
\nDye & Durham Limited is a leading provider of cloud\u2013based 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.<\/p>\n