Landmark-Today's Merger Likely To Cause Headache For CMA: Analyst
The announcement earlier this week that wholesale giants Today's Group and Landmark are planning to merge may cause further headaches for the UK's Competition and Markets Authority (CMA), which is already bogged down with the minutiae of the Asda-Sainsbury's merger, according to Clive Black of Shore Capital Stockbrokers.
On Monday, Today's and Landmark announced their plans to form a new merged entity called Unitas Wholesale, with a members' vote on the measure set to take place on September 6, with a view to the two companies formally merging over the course of next year.
“We believe that this consolidation is narrowing the options for suppliers and potentially threatening the future of independent businesses as multiple chains expand into the wholesale channel,” Today’s managing director Darren Goldney commented.
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