The UK competition regulator has decided to investigate Tesco proposed $4.75 billion cash and stock deal to acquire food wholesaler Booker Group.
The Competition and Markets Authority said Tuesday the first phase of its investigation into the consequences for competition in the sector would run until July 25.
Tesco agreed in January to buy Booker for 3.7 billion pounds ($4.76 billion), a deal which combines the UK’s largest retailer with the country’s largest food wholesaler, a surprise move that could bring hefty cost savings for the supermarket operator.
The CMA investigation follows Tesco’s formal notification to the regulator of the Booker transaction.
Full Content: Financial Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile Faces Class-Action Lawsuit Over Sprint Merger After Appeal Denied
May 16, 2024 by
CPI
Google Faces Backlash Over Introduction of AI-Generated Summaries in Searches
May 16, 2024 by
CPI
CMA Launches Phase 2 Probe into AlphaTheta’s Acquisition of Serato
May 16, 2024 by
CPI
NFL Executive Escapes Testifying in High-Stakes Trial Over Televised Games
May 16, 2024 by
CPI
EU Consumers Lodge Complaint Against Chinese Retailer Temu Over Content Rules Breach
May 16, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI