UK competition authority begins formal investigation of Morrisons
CD&R is buying Morrisons for £7.1bn after it won an auction for the supermarket chain last year
The Competition and Markets Authority (CMA) said it has launched an investigation into acquisition of Wm Morrison Supermarkets by US private equity firm Clayton, Dubilier & Rice Holdings (CD&R).
CD&R is buying Morrisons for £7.1bn after it won an auction for the supermarket chain last autumn. The US group offered 287p per share, beating rival suitor Fortress’s 286p bid.
The CMA probe will consider whether the takeover is likely to substantially lessen competition within any UK market for goods or services.
It invited comments from interested parties and said it will make its phase 1 decision by 24 March 2022.
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