30th Oct 2023 12:23
(Alliance News) - Alumasc Group PLC on Monday noted the announcement by the UK Competition & Markets authority to investigate its planned takeover by ARP Group Holdings Ltd.
Alumasc is a Kettering, England-based supplier of building and engineering products. ARP Group comprises ARP Group Holdings Ltd and its subsidiary Aluminium Roofline Products Ltd; together with Rainwater Online Holdings Ltd and its subsidiaries Envelope Solutions Ltd and Cast Iron Superstore Ltd.
The planned takeover of Alumasc, which was announced in July, is for a maximum cash consideration of GBP10.0 million on a cash and debt free basis.
The CMA is considering whether the takeover will result in a substantial lessening of competition within the UK for goods and services. The CMA has until December 22 to announce its phase 1 decision.
Alumasc shares were 0.7% lower at 145.00 pence each on Monday afternoon in London.
By Tom Budszus, Alliance News reporter
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