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Britain’s competition regulator will investigate US warehousing company GXO Logistics GXO.N’s £762 million ($952.2 million) takeover of British peer Wincanton WINAW.L ), we learned on Wednesday.
The Competition and Markets Authority (CMA) has issued an initial order against the companies as part of the investigation.
GXO outbid CEVA Logistics earlier this year with a 605 pence per share offer for Wincanton, which operates in around 160 sites. The company is also active in e-commerce, grocery and non-food retail, and counts supermarket operators Sainsbury’s, Morrisons and Asda among its clients.
The transaction closed last month.
Wincanton and GXO did not immediately respond to Reuters’ request for comment.
($1 = 0.8003 pounds)