Saint-Gobain: UK to investigate acquisition of GCP Applied
(CercleFinance.com) - On Thursday the British competition authority announced that it has begun an investigation into the acquisition of the American GCP Applied Technologies by the French building materials group Saint-Gobain.
The Competition and Markets Authority (CMA) explains that its decision aims to determine whether the transaction is likely to result in a substantial lessening of competition in the UK.
As such, the regulator has requested the parties involved to submit their comments by 13 June, after which it will decide whether a further investigation - "phase 1" - is necessary.
Saint-Gobain announced the acquisition of GCP Applied Technologies, a US construction chemicals specialist, last December for a price of around 2.3 billion dollars.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The Competition and Markets Authority (CMA) explains that its decision aims to determine whether the transaction is likely to result in a substantial lessening of competition in the UK.
As such, the regulator has requested the parties involved to submit their comments by 13 June, after which it will decide whether a further investigation - "phase 1" - is necessary.
Saint-Gobain announced the acquisition of GCP Applied Technologies, a US construction chemicals specialist, last December for a price of around 2.3 billion dollars.
Copyright (c) 2022 CercleFinance.com. All rights reserved.