Real Estate
Barratt’s £2.5 Billion Redrow Acquisition Cleared by UK Watchdog
- Barratt says it will now commence the integration of the firms
- CMA had warned deal threatened competition in one local area
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Barratt Developments Plc’s plan to buy rival housebuilder Redrow Plc for £2.5 billion ($3.3 billion) has avoided in-depth scrutiny from the UK’s antitrust watchdog, paving the way for the completion of the deal.
The Competition and Markets Authority said in a decision dated Friday that it approved undertakings related to concerns that the housebuilders held a high combined share of land around Whitchurch, in the English county of Shropshire. In August, the CMA had told Barratt and Redrow that it would need solutions to avoid an in-depth probe.