Thursday December 17,2015 : BETFAIR-PADDY POWER MERGER GETS THE GREEN LIGHT
UK Competition and Markets Authority gives its blessing.
The Betfair-Paddy Power merger cleared another important hurdle this week with the announcement that the UK Competition and Markets Authority Merger Clearance committee has approved the deal, scheduled to complete in Q1-2016
Companies in mergers that involve valuations of over GBP 70 million, or where the company controls more than 25 percent of a market, are required to undergo investigation by the Authority to protect consumers and the market.
In related news the Authority has announced that it may be about to embark on a "fast track" enquiry regarding the upcoming merger between Ladbrokes and Gala Coral. Both companies have requested an immediate and accelerated enquiry.