26th Mar 2020 13:47
(Alliance News) - The UK competition watchdog could clear a Future PLC acquisition, it said Thursday, but is probing a Dechra Pharmaceuticals PLC deal.
The UK Competition & Markets Authority in January said it would be looking into the GBP140 million acquisition by Future of fellow magazine publisher TI Media.
At the start of last week, the CMA said it would clear the deal if the two agreed to sell three competing productions. Bath-based Future, which owns titles such as FourFourTwo football magazine and Digital Camera, announced the acquisition late October.
On Thursday, the regulator said remedies have bene offered by Future, and it now believes these are reasonable grounds to offset any competition concerns.
The CMA has until May 29 to make a final decision, though this could be extended to July 24.
Shares in Future were 7.6% higher on Thursday afternoon in London at 964.06 pence each.
In a separate statement, the CMA said it will be looking into whether Dechra Pharmaceuticals's purchase of Elanco Animal Health Inc's Osurnia will lessen competition in the UK.
Dechra, a veterinary pharmaceuticals firm based in Northwich, Cheshire, said in January it would be buying Osurnia off Elanco for USD135 million. Osurnia is a treatment for outer inflammation in dogs.
The CMA is now inviting comment on the purchase, with the deadline set at April 17.
Dechra shares were 1.9% lower at 2,344.00p each.
By George Collard; [email protected]
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