UK Antitrust Arm Orders Vehicle Parts Merger's Breakup
Law360 (January 12, 2021, 5:01 PM EST) -- The United Kingdom's antitrust enforcer ordered the dissolution Tuesday of a completed merger between rival commercial vehicle and trailer parts makers that it said risked "higher costs and poorer service" for local distributors and garages.
The Competition and Markets Authority said it would mandate that TVS Europe Distribution Ltd. undo its February 2020 purchase of 3G Truck & Trailer Parts Ltd. because combining 3G with fellow TVS property Universal Components UK Ltd. was too risky for competition.
"The CMA found that Universal Components and 3G currently compete closely to supply replacement parts for commercial vehicles and trailers to motor factors (local...
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