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UK: Car sales merger probed by OFT

 |  September 4, 2013

The $13.6 million buyout of Shields Automotive by competitor Lookers is now under investigation by the UK’s Office of Fair Trading, the watchdog said.

The car sellers completed their deal last May, but the OFT said it will now look into whether the transaction lessened competition in several geographical regions. Lookers currently runs Shields independent from itself and, in a statement, told the OFT that the two companies’ independence would remain for a certain amount of time. Reports say that timespan will likely be while the probe takes place.

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