CMA launches initial probe into Greencore's acquisition of Bakkavor

(Sharecast News) - The UK's competition watchdog said on Monday that it was launching an investigation into convenience food manufacturer Greencore's £1.2bn acquisition of rival Bakkavor. The Competition and Markets Authority announced in July that it was mulling a potential probe as it launched an "invitation to comment".

It said at the time that it was considering whether the deal would result in a "substantial lessening" of competition.

The CMA said on Monday that it now has "sufficient information" about the deal to enable it to begin an initial investigation to decide whether it will refer it for a phase 2 investigation.

The watchdog has set a deadline of 27 October.