// Morrisons’ acquisition of McColl’s is close to being finalised as CMA says it won’t escalate investigation
// The CMA will accept Morrisons’ offer to sell 28 stores from McColl’s existing estate
Morrisons’ takeover of McColl’s is nearing completion after the CMA decided not to escalate its investigation into the merger.
The watchdog said it would accept the grocer‘s offer to sell 28 stores from McColl’s existing estate.
It said it would take Morrisons’ word that it will “act in good faith” and divest itself of the agreed number of stores “as soon as reasonably practicable”.
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This means Morrisons is a step closer to completing its £190 million bid to save the convenience store chain after it fell into administration earlier this year.
“I am pleased that the acquisition of McColl’s has cleared the final regulatory hurdle,” Morrisons chief executive David Potts said.
“McColl’s is a business with great potential and over the last few months we have been making plans for its integration into Morrisons, for investment and for growth. We will be outlining these plans shortly.”
The CMA first launched its investigation into the acquisition back in July.
