UK’s competition regulator has formally opened an investigation into whether a takeover by US private equity firm Clayton, Dubilier & Rice Holdings (CD&R) of Morrisons will reduce choice for supermarket customers in the country, reported Reuters.
The Competition and Markets Authority announced on Thursday, January 27, it had launched a merger inquiry, inviting comments from interested parties and giving a deadline of March 24 for a preliminary decision.
CD&R, which has former Tesco boss Terry Leahy as a senior adviser, won an auction for Morrisons on October 2, bidding a penny a share more than a consortium led by Softbank-owned Fortress Investment.
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