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UK: Regulator refers Sainsbury’s Pharmacy deal to phase 2 review

By  |  January 3, 2016

The UK Competition and Markets Authority on Tuesday said it has decided not to accept undertakings given by Celesio AG in respect of its proposed acquisition of J Sainsbury PLC’s pharmacy business.

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    The acquisition will therefore be referred to a Phase 2 investigation.

    Sainsbury’s agreed to sell its pharmacy business to Celesio for GBP125 million in July. Under the deal, Lloyds Pharmacy, which is owned by Celesio, would buy 281 pharmacies in total, including 277 in-store locations and four located in hospitals, to be re-branded under Lloyds Pharmacy.

    Earlier this month, the CMA had ruled that the acquisition may result in a “substantial” lessening of competition in the UK.

    Full content: The Times

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