TP cleared to buy ToolStation
Published: 02 April, 2012
LONDON: The OFT has given the OK for Travis Perkins' acquisition of ToolStation.
The OFT said it will not exercise its discretion under section 26(4) of the Act to review this transaction. Therefore, no relevant merger situation arises for the purposes of section 23 of the Enterprise Act 2002.
"The OFT is still investigating the completed acquisition by Jewson of the Build Center business of Wolseley plc.
In this deal, OFT believed the merger may have resulted in a substantial lessening of competition between builders' merchants.
To address the OFT's competition concerns, Jewson offered to sell a store or stores in each of the 22 local areas identified by the OFT to ensure competition created by the proposed merger in those areas.