The CMA has announced that the anticipated acquisition by Greene King of Spirit Pub Company will be referred for an in-depth phase 2 merger investigation unless acceptable undertakings are offered. The CMA, at first phase, has found that the transaction gives rise to a realistic prospect of a substantial lessening of competition in 16 local areas where it concluded that the parties’ pubs were in close proximity, were each other’s key rivals and did not face sufficient competition from other outlets. Click here.