UK Says £92M Real Estate Tech Deal Hurt Competition
By Matthew Perlman (May 18, 2022, 4:27 PM EDT) -- U.K. enforcers said Wednesday that Dye & Durham's completed £91.5 million ($113 million) acquisition of real estate services company TM Group may have hurt competition for property search services in the country and may need to be unwound.
The Competition and Markets Authority released the provisional findings from its in-depth, Phase 2 investigation of the deal, saying that enforcers found the companies were two of the four largest providers of property search services in the U.K. before the merger and competed closely with each other.
As a result of the tie-up, the agency said, the combined company faces little competition which...
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