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UK: Deal creating second-largest retail chain under OFT scrutiny

By  |  April 23, 2013
UK: Deal creating second-largest retail chain under OFT scrutiny

A merger between Costcutter and Palmer & Harvey, resulting in the UK’s second-largest retail chain, is now formally under investigation by the Office of Fair Trading. The deal lands Costcutter with a total of 2,500 retail stores within its network, a result the OFT is concerned results in significant harm to competition. The CEO of Costcutter has confirmed the deal is under scrutiny, but has assured its full cooperation with authorities including the Competition Commission, if necessary. The buying group The Buyco will have purchasing power of more than $7.6 billion through the deal, according to reports.

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