On 31 October 2008, the Secretary of State (SoS) used the newly created public interest grounds of "financial stability" to clear the proposed merger between LloydsTSB Group plc and HBOS plc, despite competition concerns raised by the Office of Fair Trading. The Merger Action Group (MAG), a group of 6 businessmen with 630 "supporters", appealed this decision to the Competition Appeal Tribunal (CAT). MAG claimed that the merger should have been referred to the Competition Commission and that the SoS had acted unreasonably. On 10 December 2008, following a two-day hearing, the CAT ruled that MAG was entitled to bring such a case but dismissed the case on its merits. MAG has indicated it will not bring a further appeal.