In for a penny

In for a penny

Economic issues in the Poundland/99p stores merger 

At Phase I of its investigation of Poundland’s proposed acquisition of 99p Stores, the Competition and Markets Authority (CMA) concluded that there was a realistic prospect of a “substantial lessening of competition” in over 90 local areas.

However, in the CMA’s first Phase II scrutiny of a local retail markets merger, it changed its standard approach – and the transaction was cleared unconditionally. What were the circumstances that led it to do so, and what are the implications for others?

Economic issues in the Poundland/99p stores merger