UK's CMA Said Accepted Undertakings In Lieu Of Reference To Phase 2 Given By LKQ Corporation
Portfolio Pulse from Charles Gross
The UK's Competition and Markets Authority (CMA) has accepted undertakings from LKQ Corporation, preventing the merger between LKQ and Uni-Select Inc. from moving to Phase 2. The undertakings signed by LKQ are effective immediately.
September 15, 2023 | 11:03 am
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The acceptance of undertakings by the CMA may streamline the merger process between LKQ Corporation and Uni-Select Inc., potentially benefiting LKQ's stock in the short term.
The acceptance of undertakings by the CMA means that the merger between LKQ Corporation and Uni-Select Inc. will not be referred to Phase 2, which could have delayed the process and created uncertainty. This could be seen as a positive development by investors, potentially leading to a short-term increase in LKQ's stock price.
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