Iron Mountain To Offer Undertakings To Address UK CMA Concerns On Recall Buy

(RTTNews) - Iron Mountain Inc. (IRM) said the United Kingdom's Competition and Markets Authority or CMA has decided to refer Iron Mountain's proposed acquisition of Recall Holdings Limited (REC.AX, RCLHF.PK) by way of scheme of arrangement for an in-depth or Phase 2 investigation, unless Iron Mountain offers acceptable undertakings to address competition concerns preliminarily identified by the CMA.

Iron Mountain is cooperating fully with the CMA and intends to offer acceptable undertakings in order to address the CMA's concerns. Iron Mountain will make any divestments that are required in order to obtain the approval of the CMA.

Iron Mountain has until January 7, 2016 to submit its proposed undertakings and the CMA will then have until January 14, 2016 to consider whether there are reasonable grounds for believing that the undertakings offered, or a modified version of them, might be accepted.