Britain’s competition regulator is investigating whether a deal between outsourcing firms Mitie Group and Interserve for the latter’s facilities business could reduce competition in the sector, reported Reuters.
The Competition and Markets Authority (CMA) announced on Tuesday, September 15, it was inviting interested parties to offer their comments before September 29 on the agreement, which was announced by Mitie in June.
“The transaction was voluntarily referred to the CMA for clearance and we are working closely with the CMA to progress the process,” a spokesperson for Mitie wrote in an e-mailed statement.
The £271 million deal (US$349 million) in cash and shares was seen as Mitie flexing its financial muscle to scale-up in Britain’s contract-services industry, which has been through a turbulent few years, with the pandemic adding to its woes.
The company manages and maintains some of London’s best-known landmarks, and works with the likes of Britain’s National Health Service, the police, and the Bank of England.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Canadian Breadmakers Settle Price-Fixing Lawsuit
Jul 25, 2024 by
CPI
EssilorLuxottica Open to Meta as Shareholder, Says CEO Francesco Milleri
Jul 25, 2024 by
CPI
California Supreme Court Upholds Proposition 22, Securing Independent Contractor Status for Uber and Lyft Drivers
Jul 25, 2024 by
CPI
Paramount Global Investor Sues to Block Skydance Media Merger
Jul 25, 2024 by
CPI
Software Vendors Win Class Action Status in Antitrust Case Against CDK Global
Jul 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Trade & Antitrust
Jul 26, 2024 by
CPI
What is Wrong with the WTO Discipline on Subsidies?
Jul 26, 2024 by
CPI
The Abiding Tension Between Trade Remedy Law and Antitrust
Jul 26, 2024 by
CPI
Trade and Antitrust: An End to Isolationism
Jul 26, 2024 by
CPI
International Trade Law and Domestic Regulation of Generative Artificial Intelligence: Divergent Approaches?
Jul 26, 2024 by
CPI