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Saint-Gobain: The British CMA postpones the date of its decision on the takeover of GCP | Photo credits: © Saint-Gobain, Ph. Manuel Bougot
PARIS (Agefi-Dow Jones)–The British competition authority, the Competition & Markets Authority (CMA), announced on Tuesday that it has postponed by one day the due date of its preliminary investigation, known as “phase 1 “, on the proposed takeover of the American construction chemicals group GCP Applied Technologies by the materials producer Saint-Gobain.
The CMA has extended to September 22 the deadline for making its first findings on the impact of the deal on competition in the UK and its decision whether or not to launch an in-depth investigation. The date has been changed due to the public holiday declared Monday in the United Kingdom for the funeral of Queen Elizabeth II.
Saint-Gobain announced last December that it had signed an agreement to acquire GCP Applied Technologies for an amount representing an enterprise value of $2.3 billion.
-Alice Doré, Agefi-Dow Jones; +33 (0)1 41 27 47 90; [email protected] ed: VLV
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September 20, 2022 04:26 ET (08:26 GMT)