Competition Authority Clears Sainsbury's Acquisition Of Home Retail Group
The UK's Competition and Markets Authority has cleared Sainsbury's acquisition of Argos parent Home Retail Group.
In a statement, Home Retail Group said that it 'welcomed today's announcement by the CMA that it has unconditionally cleared the Acquisition following its Phase 1 investigation'.
Commenting on the move, Barclays European Retail Equity Research, "We doubt this will come as a big surprise to many investors as the proposed deal did not seem to raise obvious conflicts."
The completion of the deal remains subject to FCA and Home Retail shareholder approval.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.