The UK competition watchdog, The Competition and Markets Authority (CMA), has formally cleared the way for Poundland’s takeover of smaller rival 99p Stores. The deal, which is worth £55 million, has been in the works since February and will add approximately 250 stores to Poundland’s own estate of 588 across the UK and Ireland.
In its ruling, the CMA said that the impact of supermarket chains and larger discounters would counterbalance any negative effects from the merger which is expected to complete by the end of the month.
