LONDON: The Office of Fair Trading has given Travis Perkins the OK to acquire BSS Group subject to conditions.
The Office of Fair Trading said yesterday that is likely that the acquisition by Travis Perkins of the BSS Group will lead to a substantial lessening of competition in the supply of plumbing and heating products in the local areas around twenty BSS stores. However, the OFT accepted Travis Perkins' offer to divest stores in each of the twenty local areas identified by the OFT to remove store overlap created by the proposed merger.
"The OFT considers that the proposed undertakings offered by TP are clear cut and appropriate to remedy, mitigate or prevent the competition concerns identified in the decision," said the OFT in a statement today.
The acceptance by the OFT of Travis Perkins proposed undertakings is dependent on public consultation. The deadline for comments is 26 November.