CMA probes Morrison’s takeover deal of McColl’s

Bloomberg

Wm Morrison Supermarkets’ planned takeover of struggling UK convenience store-chain McColl’s Retail Group Plc will get a formal antitrust probe from Britain’s competition watchdog.
The Competition and Markets Authority (CMA) said it had officially kicked off a merger inquiry into the deal to see whether it would result in a lessening of competition in the UK groceries market, according to a statement. The agency previously issued an initial enforcement order to check whether the transaction needed a closer look.
Morrison was named the buyer of McColl’s in May after the convenience store-chain entered insolvency. Britain’s fourth-largest supermarket said it would acquire all 1,160 stores, which would continue to operate as normal, and that all 16,000 jobs will be protected.
The CMA will make a decision by September 8 on whether the deal then needs an in-depth investigation.