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CMA greenlights AJ Gallagher takeover of Willis Re

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The UK’s Competition and Markets Authority (CMA) has cleared AJ Gallagher’s takeover of Willis Re following a brief probe into the transaction.

In early October, the CMA launched an inquiry into the deal, looking to determine whether the merger “may be expected to result in a substantial lessening of competition within any market or markets in the UK for goods or services”.

It had been due to announce whether it would refer the merger for a Phase 2 investigation by 29 November.

As this publication highlighted at the time, the CMA’s probe was unlikely to present a serious challenge to the merger, as the deal will do little to reduce the level of competition in the reinsurance broking market.

The watchdog is to publish the full text of its decision shortly.

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