Competition Authority’s review of proposed Hope acquisition
Published: 12 April, 2016
The Competition and Markets Authority (CMA) has completed its Phase 1 review of Breedon’s proposed acquisition of Hope Construction Materials (Hope), concluding that there is a realistic prospect of a substantial lessening of competition in a limited number of local ready-mixed concrete markets in England and Scotland.
This outcome is in line with Breedon’s expectations and the company now has a short period during which to offer remedies to address the CMA’s outstanding concerns. Subject to agreement with the CMA on appropriate remedies, Breedon expects to complete the acquisition later this summer in line with previous guidance.