The Office of FaIr Trading has confirmed that Kier Group's takeover bid for May Gurney will not be referred to the Competition Commission for consideration - clearing the way for the deal to proceed.
In a statement, the OFT said:
The OFT has decided, on the information currently available to it, not to refer the the following merger to the Competition Commission under the provisions of the Enterprise Act 2002: Anticipated acquisition by Kier Group plc of May Gurney Integrated Services plc."
The OFT had examined the bid in the context of the potential impact a proposed merger might have on waste management and other services for utilities and infrastructure sectors.
The regulator confirmed on 31 May that it had received assurances from Costain Group plc that its own anticipated merger with May Gurney Services plc had been abandoned as the offer has lapsed and therefore closed its investigation into the transaction.
A further statement from the OFT is expected shortly.
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