Saint-Gobain: UK CMA Postpones GCP Acquisition Decision Date, Company News

Agefi-Dow Jones |

Saint-Gobain: the British CMA postpones the date of its decision on the acquisition of GCP | Photo credits: © Saint-Gobain, Ph. Manuel Bougot

PARIS (Agefi-Dow Jones)–British competition authority, the Competition and Markets Authority (CMA), announced Tuesday that it has postponed by one day the deadline for its preliminary investigation, known as ” phase 1″, on the proposed acquisition of the US group of chemicals for construction GCP Applied Technologies by the producer of materials Saint-Gobain.

The CMA has extended to September 22 the deadline for making its first findings on the deal’s impact 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 on 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 Dore, Agefi-Dow Jones; +33 (0)1 41 27 47 90; ed: VLV

Agefi-Dow Jones The Financial News Channel

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September 20, 2022 04:26 ET (08:26 GMT)

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