The Competition and Markets Authority (CMA) has given the proposed £25 million (US$33.1 million) merger of DFS and Sofology the green light.
Furniture retailer DFS first announced plans to take over rival chain Sofology in August.
DFS exchanged contracts to acquire all the all the outstanding share capital of the specialist sofa retailer for an initial enterprise value of £25 million (US$33.1 million), on a debt-free cash-free basis.
The CMA subsequently opened an investigation and invited comments on the merger in October. The CMA, along with the Financial Conduct Authority, has now confirmed that the acquisition can take place.
The acquisition will see DFS take over Sofology’s chain of 37 stores across the UK.
Full Content: Insider Media
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