CMA seeking views on AB Foods' acquisition of Hovis

(Sharecast News) - The Competition and Markets Authority said on Thursday that it was seeking views on Associated British Foods' planned acquisition of Hovis. The watchdog issued a preliminary 'invitation to comment' to allow interested parties to submit "any initial views on the impact that the transaction could have on competition in the UK".

The CMA said it has not yet launched its formal investigation into the deal. The invitation to comment is the first part of its information-gathering process.

Interested parties have until 2 October to comment.

Kingsmill owner AB Foods announced last month that it had agreed to buy Hovis from private equity firm Endless for an undisclosed sum.

At 1010 BST, AB Foods shares were down 1% at 1,982.50p.