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Hunter Douglas ordered to divest majority stake in 247 Home Furnishings by UK CMA

( September 14, 2020, 11:45 GMT | Official Statement) -- MLex Summary: Hunter Douglas's completed acquisition of 247 Home Furnishings has been blocked by the UK Competition and Markets Authority, which has ordered the blinds supplier to sell off its majority stake in the business. In a final decision today, the CMA said Hunter Douglas must sell the 51 percent share in 247 that it acquired in 2019, after finding the deal would substantially hamper competition. It found the merger would result in a reduction from three to two large firms in the market for online sales of made-to-measure blinds, with few effective alternative providers remaining after the merger. "The evidence obtained by the CMA during its investigation showed that other online rivals are much smaller and that competition from other retail channels and alternative products is limited," the CMA said.Statement follows. A summary of the decision and the decision are attached....

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