Competition Watchdog Probes Ardonagh Bike Broker Deal

Law360, London (July 22, 2020, 4:03 PM BST) -- The U.K.'s competition watchdog has launched an investigation into the £26 million ($33 million) purchase of specialist broker Bennetts Motorcycling Services by insurance acquisition vehicle Ardonagh Group.

The Competition and Markets Authority said Tuesday it had now launched an official merger inquiry, after an initial request for feedback at the start of the month.

The authority will now look at whether the deal, announced in February pending regulatory approval, "may be expected to result in a substantial lessening of competition" within its specific market.

The CMA investigates mergers when two combined business control at least 25% of the market in which...

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