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U.K. Regulator to Look Into Wood Nuclear Unit Sale; Stock Falls

Jan. 8, 2020, 1:02 PM

Competition and Markets Authority is investigating whether Jacobs Engineering’s acquisition of Wood’s nuclear business is expected to result in a substantial lessening of competition, according to a statement.

  • CMA invites comments on the transaction, deadline Jan. 22
  • Wood shares decline as much as 7.1%, reaching the lowest in three weeks
  • NOTE: Wood agreed to sell the business in August for GBP250m to cut debt, expected the deal to close in 1Q

To contact the reporter on this story:
Kasper Viita in London at kviita1@bloomberg.net

To contact the editors responsible for this story:
Beth Mellor at bmellor@bloomberg.net

John Viljoen

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