Construction News <\/em>understands the CMA has accepted the firms\u2019 proposal to offload four quarries and five ready-mix concrete plants and will not be moving into the next phase of its investigation.<\/p>\nHeidelberg Materials confirmed the two firms had entered into contracts to hand over three of the quarries and four of the concrete plants to aggregates firm PJ Thory. Heidelberg Materials\u2019 Needingworth quarry in Cambridgeshire will go to to Brice Aggregates.<\/p>\n
Heidelberg Materials chief executive Simon Willis said he now expected the acquisition to be completed by 3 May.<\/p>\n
The CMA concluded in the first phase of its inquiry last November that the two businesses had \u201climited competition\u201d for the supply of non-specialist aggregates or ready-mix concrete in 18 local markets in the East of England and East Midlands.<\/p>\n
At the time, CMA senior director for mergers Colin Raftery said: \u201cThese products are an important input for building projects, so a loss of competition between two of the main suppliers could result in increased construction costs for businesses and public bodies.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Competition and Markets Authority (CMA) has dropped its inquiry into a merger between two aggregates firms after the parties committed to giving up some of their sites. Hanson, which changed its name to Heidelberg Materials in November, agreed to purchase \u00a3228m-turnover construction material supplier Mick George Ltd in December 2022. The CMA launched an …<\/p>\n","protected":false},"author":141524,"featured_media":489426,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false},"categories":[553],"tags":[],"yoast_head":"\n