CMA launches probe into Morrisons takeover deal amid fuel price concerns
The Competition and Markets Authority has launched a probe into the acquisition of the Morrisons supermarket chain by Clayton, Dubilier & Rice.
The CMA will be looking into whether the £7 billion deal will result in higher fuel prices on petrol forecourts around the UK.
US private equity firm Clayton, Dubilier & Rice owns around 900 UK petrol stations as part of its Motor Fuel company whilst Morrisons has around 335.
In statement, the CMA said it will examine whether the deal will “result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.”
Clayton, Dubilier & Rice won an auction to acquire the supermarket chain back in the autumn.
At the time, Andrew Higginson, chairman of Morrisons, said: “Today’s final offer from CD&R represents excellent value for shareholders while at the same time protecting the fundamental character of Morrisons for all stakeholders.
“We remain confident that CD&R will be a responsible, thoughtful and careful owner of an important British grocery business.”
Email this article to a friend
You need to be logged in to use this feature.
Please log in here