JD Sports Fashion has reacted with disbelief that the CMA has blocked its £90m acquisition of Foot Asylum and has said it may appeal the decision.
Kip Meek, CMS chair said: “Our investigation analysed a large body of evidence that shows JD Sports and Footasylum are close competitors. This deal would mean the removal of a direct competitor from the market, leaving customers worse off. Based on the evidence we have seen, blocking the deal is the only way to ensure they are protected.”
JD Sports executive chairman Peter Cowgill said: “We fundamentally disagree with the CMA’s decision, which continues to rely on an inaccurate and outdated analysis of the UK sports retail competitive landscape, and is underpinned by outdated and flawed customer surveys.”
The CMA had published its original findings in February and said Cowgill “Today and equally frustratingly, in the midst of a global pandemic and with the UK high street in a state of complete lockdown, the CMA’s final decision is even more absurd.”
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