CMA clears office2office acquisition
The planned acquisition of office2office, which has an office in Guildford, by turnaround investor Endless has moved forward after being cleared by the Competition and Markets Authority (CMA).
In August, Endless agreed to pay 51p per share for the office products supplier, valuing the group at £19.1m.
Endless set up a new business called EVO Business Supplies to purchase the company and merge it with Sheffield-based Vasanta to create an enlarged group.
The CMA, which is the successor to the Office of Fair Trading and Competition Commission, has decided not to refer the merger to a phase two investigation under the Enterprise Act.
It announced that it would look into the deal in August.
The planned merger with Vasanta would create a £660m multichannel distributor of business supplies and services.
office2office, which employs 900 staff, is a provider of business supplies and outsourced business services primarily to large private and public sector customers.