UK: The Competition and Markets Authority (CMA) has formally launched the first phase of a merger inquiry into the proposed acquisition by Saint-Gobain of GCP Applied Technologies. The competition body said that proposed merger had met the threshold for investigation under UK law. The CMA will now decide whether to refer the merger for further scrutiny by 21 September 2022.
Saint-Gobain said it had agreed to buy construction chemicals producer GCP Applied Technologies for Euro2bn in late 2021 with a conclusion date to the transaction by the end of 2022.
