UK: Robert Wiseman halts acquisition of milk business
UK dairy company Robert Wiseman Dairies has said that it will not proceed with the proposed acquisition of the fresh liquid milk business of Scottish Milk Dairies after the UK's Office of Fair Trading decided to refer the deal to the Competition Commission.
The OFT announced on 19 October that it had decided, on the information available to it, to refer the anticipated acquisition to the Competition Commission. Robert Wiseman said at the time that it was disappointed that a referral was considered necessary and was considering the implications for the proposed purchase.
The company announced in August that it had agreed terms for the acquisition of the trade and certain assets of the fresh liquid milk business of Scottish Milk Dairies, a wholly owned subsidiary of First Milk.
The total cost of the acquisition was expected to be around £0.9m (US$1.6m).
'This acquisition will complement our existing operations and enhance efficiencies in Central Scotland," said chief executive Robert Wiseman in August.
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