Breedon has noted the announcement by the Competition and Markets Authority that it has accepted Breedon’s undertakings in lieu of a reference to a Phase 2 investigation in respect of its proposed acquisition of Hope, and that Breedon has accordingly been cleared to complete the Acquisition, subject to those undertakings. As indicated in Breedon’s announcement on 21 July 2016, it now expects to complete the acquisition of Hope on 1 August 2016.
Commenting on the announcement Breedon’s Chairman, Peter Tom CBE, said: “The way is now clear for Hope to join us and create the UK’s largest independent construction materials group. It will give us a stronger platform for growth, with a broader geographical footprint, increased scale, an improved product mix, greater financial capacity and a team of highly talented people.
“We have built our reputation on our service, delivered locally, promptly and to the highest quality standards. We look forward to working with our new colleagues to deliver an even better and more comprehensive service to our customers in the years ahead.”
Adapted from press release by Joseph Green
Read the article online at: https://www.worldcement.com/europe-cis/27072016/breedon-cleared-hope-takeover-610/