UK's CMA starts probe into Greencore/Bakkavor deal

(Sharecast News) - Britain's competition regulator has launched an investigation into Greencore's £1.2bn takeover of rival Bakkavor. The Competition and Markets Authority said it would look at whether the deal would result in substantially less choice in the prepared foods and ready meal market.

Bakkavor shareholders overwhelmingly voted for the merger on Monday, with 99.98% in favour. The deal would create a food company with a joint turnover of $4bn.

Reporting by Frank Prenesti for Sharecast.com