UK: CMA extends deadline for wool merger

The deadline has been extended for the Competitions and Markets Authority (CMA) to reach a decision on woollen yarn producer Danspin’s purchase of competitor Lawton Yarns.

Dewsbury-based Lawton Yarns has been established for more than 100 years originally, tracing its dating back to 1902. Danspin acquired the business from administrators at Moorfields Advisory in June 2019, following a competitive process against other interested purchasers.

Following its initial phase one investigation, the CMA found that the deal poses serious competition concerns for carpet manufacturers in the UK.

In November, the company offered undertakings to resolve the CMA’s concerns. The regulator set a deadline of January 17, 2020, to decide whether to accept the undertakings, but this has now been extended until March 13.

Full Content: Insider Media

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