MFG’s takeover of MRH looks set to clear its final hurdle after it offered to sell off a number of sites which were causing competition concerns.
Two weeks ago the Competition and Markets Authority (CMA) said it was satisfied that competition provided by other major petrol retailers and supermarkets would ensure that the merger would not result in higher prices for motorists across the country as a whole.
However, it identified concerns at 29 locations in the UK where MFG and MRH were close competitors, and where the takeover could result in prices rising for local motorists.
It gave MFG an opportunity to address the CMA’s competition concerns, warning that if it was unable to do so, the merger would be referred for an in-depth (Phase 2) investigation.
In an announcement at lunchtime today (Friday September 14), the CMA revealed that MFG had made an offer to divest itself of sites where there was considered to be a problem, and said this was likely to be acceptable.
The CMA has until November 9 to make a final decision in the case.