British Watchdog Delves Into CHC's £10M Helicopter Biz Buy
By Christopher Cole (November 29, 2021, 2:20 PM EST) -- U.K. authorities said Monday they will take a deeper dive into CHC Group's recent £10 million (about $13.5 million) purchase of Babcock's oil and gas offshore helicopter business after apparently failing to secure commitments to deal with competition worries.
The Competition and Markets Authority opened an in-depth investigation into the completed deal nearly two weeks after asking CHC for a proposal that would satisfactorily resolve concerns in the British helicopter supply market.
After more than five working days passed, the case was referred for a Phase 2 investigation, in which authorities seek more details regarding the merger's impact. In the deal...
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