On 12 July 2011, the Office of Fair Trading (“OFT”) announced its decision to refer the acquisition by Kerry Foods Limited of the frozen ready meals business of Headland Food Limited to the Competition Commission under the Enterprise Act 2002. The parties are the largest UK suppliers of frozen ready meals to retail customers. Customers have expressed strong concerns about the merger, in particular due to a price rise that followed the completion of the merger. In deciding that the merger could give rise to a substantial lessening of competition the OFT did not accept the failing/exiting firm defence. Read more