A PYMNTS Company

UK: CMA refers first deal for in-depth probe

By  |  July 16, 2014

After UK authorities launched an investigation into the proposed merger between Pure Gym and The Gym Group chains, reports say the parties have abandoned their plans.

The low-cost fitness businesses said that they have abandoned their plans to merge because of the probe launched by the Competition and Markets Authority. The investigation “would have a detrimental effect on both businesses,” the companies said.

The CMA completed its first phase in the investigation last month and announced it would launch an in-depth probe into the deal that was expected to last until next yea.

Reports say the matter marks the first time the CMA has referred a merger for an in-depth investigation since it was first launched in April after combining the Office of Fair Trading and the Competition Commission.

Full content: The Telegraph

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