The Competition and Markets Authority (CMA) has announced this week that is is to launch an inquiry into the anticipated acquisition of the construction product technology company, GCP Applied Technologies by Saint-Gobain.
Saint-Gobain signed a definite agreement to acquire American based GCP in December 2021, and stated they planned to acquire all of the outstanding shares of GCP for $32.00 per share, in cash, in a transaction valued at approximately $2.3bn (approximately €2.0bn).
Saint-Gobain said the acquisition would be a decisive step in establishing the company’s leading position worldwide in construction chemicals with total sales of more than €4bn (up from €3bn), and this would furthers the group’s strategy as worldwide leader
in light and sustainable construction.
The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.
