£50m merger collapses under weight of competition concerns
Studio Retail's planned £50m sale of Findel Education has collapsed, two weeks after the Competition and Markets Authority (CMA) said a deal would result in schools having "higher prices or reduced service".
It had originally agreed the sale to Wakefield-based YPO in December but this morning Studio Retail announced the transaction would not now be completed.
It said: "The parties do not believe that there is a reasonable prospect of the transaction being cleared despite the dynamism and highly competitive nature of the market,... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
