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UK competition regulator probes Clayton $10 billion deal for Morrison

Published by maria gbaf

Posted on January 27, 2022

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LONDON (Reuters) – Britain’s competition regulator has formally open an investigation into whether a takeover by U.S. private equity Clayton, Dubilier & Rice Holdings (CD&R) of Morrison will reduce choice for customers in the country.

The Competition and Markets Authority said on Thursday it had launched a merger inquiry, inviting comments from interested parties and giving a deadline of March 24 for a preliminary decision.

CD&R, which has former Tesco boss Terry Leahy as a senior adviser, won an auction for Morrisons on Oct. 2, bidding a penny a share more than a consortium led by Softbank-owned Fortress Investment Group.

(Reporting by Andres Gonzalez; Editing by Rachel Armstrong)

The Competition and Markets Authority said on Thursday it had launched a merger inquiry, inviting comments from interested parties and giving a deadline of March 24 for a preliminary decision.

(Reporting by Andres Gonzalez; Editing by Rachel Armstrong)