YPO has abandoned its proposed deal with Findel. The UK’s Competition and Markets Authority (CMA) published its provisional findings outlining its concerns about the merger last month, reported the regulator.
The CMA has confirmed on Monday, November 2, that it intends to cancel its investigation into the potential competition concerns that could be raised by the merger.
Yorkshire Purchasing Organisation (YPO) and Findel Education Limited (Findel) are 2 of the leading suppliers of educational resources in the UK supplying stationery, furniture, and art and science materials to educational institutions, such as schools and nurseries. YPO announced its planned £50 million (US$64.6 million) purchase of Findel last year.
The CMA had been carrying out an in-depth Phase 2 investigation and, last month, provisionally found that the merger was likely to leave educational institutions worse off with fewer alternative suppliers and worse terms when purchasing resources.
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