UK: CMA refers first deal for in-depth probe

After UK authorities launched an investigation into the proposed merger between Pure Gym and The Gym Group chains, reports say the parties have abandoned their plans.

The low-cost fitness businesses said that they have abandoned their plans to merge because of the probe launched by the Competition and Markets Authority. The investigation “would have a detrimental effect on both businesses,” the companies said.

The CMA completed its first phase in the investigation last month and announced it would launch an in-depth probe into the deal that was expected to last until next yea.

Reports say the matter marks the first time the CMA has referred a merger for an in-depth investigation since it was first launched in April after combining the Office of Fair Trading and the Competition Commission.

Full content: The Telegraph

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