8th Dec 2021 15:57
Grafton Group PLC - Dublin-based DIY retailer - The UK Competition & Markets Authority says it is reviewing undertakings provided by the owner of builders merchant Huw Gray regarding its purchase of Grafton's Merchanting business. The CMA late last month said it had found that the combination of the two businesses would lead to a substantial lessening of competition in the UK. Since then, Patagonia Bidco Ltd has offered undertakings to the CMA to address its concerns. The regulator didn't specify the undertakings but said it thinks they may be acceptable. The CMA has until February 10 to decide, and this can be extended to April 7. The GBP520 million sale, first announced in July, includes Grafton's Buildbase, the Timber Group and NDI brands, among others.
Current Grafton stock price: 1,224.00 pence, up 0.4% on Thursday
Year-to-date change: up 33%
By Tom Waite; [email protected]
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