UK Opens Probe Into Saint-Gobain's $2.3B Takeover Of GCP

By Najiyya Budaly (July 26, 2022, 3:27 PM BST) -- Britain's antitrust authority said Tuesday that it has launched a formal probe into Freshfields-led French construction chemicals company Saint-Gobain's $2.3 billion acquisition of U.S. building materials business GCP Applied Technology.

The Competition and Markets Authority began a so-called phase one inquiry into whether Compagnie de Saint-Gobain SA's cross-border bid lessens competition within any markets in Britain for goods or services.

The CMA's decision to investigate follows an initial fact-finding exercise in May. The authority said on Tuesday that it has notified the companies of its phase one inquiry, which is launched if it decides that an acquisition would raise plausible antitrust...

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