UK Probes Part Of National Grid's $14.7B Deal With US Utility

Law360 (June 10, 2021, 10:01 PM EDT) -- The United Kingdom's competition enforcer is looking into British gas and electricity provider National Grid's £7.8 billion ($10.9 billion) plan to pick up a Wales-based utility from an American company in a swap worth $14.7 billion.

The Competition and Markets Authority revealed Thursday that it was launching a preliminary inquiry, known as a Phase 1 investigation, into National Grid's purchase of Western Power Distribution to sniff out whether it would be bad for competition.

This means that the watchdog has about 40 days to decide whether the deal is likely to result in a "substantial lessening of competition." If the answer...

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