The United Kingdom Competition and Markets Authority (CMA) announced today that Euro Car Parts’ acquisition of Andrew Page faces an in-depth merger probe, unless it offers acceptable ways of addressing competition concerns.
Euro Car Parts, the UK-based subsidiary of LKQ Corporation (NASDAQ:LKQ) announced in October 2016 it was acquiring Andrew Page Limited, a distributor of automotive parts in the UK. As part of the transaction, Euro Car Parts would acquire 102 Andrew Page branch locations, its national distribution center and corporate office.
Later in October the CMA announced it had opened an inquiry into the acquisition.
According to the CMA