The Competition and Markets Authority (CMA) has launched an investigation into the $7 billion takeover of Morrisons.
Earlier this month it was announced that US private Equity firm Clayton Dubilier & Rice (CD&R) had bought the retailer.
The supermarket chain, which is the UK’s fourth largest, was sold to CD&R for 287p a share after a consortium led by Fortress Investment Group, owned by Softbank, put in a bid of 286p a share.
The UK competition watchdog said that it has reasonable grounds to suspect that arrangements are in progress which could result in CD&R and Morrisons “ceasing to be distinct.”
It is understood that the CMA is concerned about possible competition issues regarding CD&R’s ownership of Motor Fuel Group, which operates more than 900 petrol forecourts, as Morrisons also has a string of these sites.
Under the initial order, the authority has said that CD&R and Morrisons must keep their businesses separate.
Morrisons declined to comment on the probe.
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Retail should not be a high-risk occupation. As a company, we are focused on listening to our colleagues and customers to help them with the issues they are facing in-store and so far, the feedback on our body cameras has been excellent. They act as a great visual deterrent, help to de-escalate situations and overall, this project has significantly aided our goal to make the retail environment safer.
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New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
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