The CMA has announced that the anticipated acquisition by Poundland plc of 99p Stores Limited will be referred for an in-depth phase 2 merger investigation unless acceptable undertakings are offered.  The CMA is concerned that the transaction gives rise to a realistic prospect of a substantial lessening of competition in 80 local areas where the companies currently overlap – and in a further 12 areas where they will be competitors in the near future. Click here.