31 Jul 2023
The Competition and Markets Authority says more time is needed for suitable buyers to be found for 12 veterinary businesses, but still expects to accept the company’s plans.
Allister Webb
Job TitleMedivet has been given more time to put forward potential buyers for 12 veterinary businesses it plans to sell off because of competition concerns.
The company presented divestment proposals to the Competition and Markets Authority (CMA) last month, after the regulator claimed the deals could substantially reduce competition in more than 30 areas of England and Northern Ireland.
The initial deadline for the CMA to consider those proposals was due to expire on Friday 28 July, but has now been extended until 25 September.
In an update posted on the inquiry’s website, CMA director of mergers Richard Flanagan said it was not possible for the authority to reach decisions within the initial time frame.
He added: “The reason for this is that the undertakings offered in relation to each merger involve an upfront buyer and additional time is required for Medivet to put forward proposed suitable buyers, and for the CMA to assess and consult on any such proposed buyers.
“Accordingly, the CMA considers that there are special reasons for extending the period in relation to each of the mergers.
“The CMA also considers that these extensions do not materially increase the risk of an anti-competitive outcome from the mergers and that there is a sufficient likelihood that it will be able to accept the undertakings before the end of the extended period in relation to each of the mergers.”
Medivet has been approached for comment, but previously said it had decided to divest itself of the affected businesses in the interests of their patients, clients and staff despite opposing the CMA’s findings.
