U.K. regulator reviewing plan to address concerns with Uni-Select-LKQ deal
BNN Bloomberg
The competition regulator in Britain has raised concerns about LKQ Corp.'s agreement to buy Canadian company Uni-Select Inc. and is reviewing a plan put forth by the companies to address its issues.
The Competition and Markets Authority says its investigation found that the merger could reduce competition in the supply of car parts, as well as garage equipment, to independent garages and workshops in 145 local areas and the supply of car parts to national and multi-regional customers.
It says it will now consider a proposal put forward by LKQ and Uni-Select, which the companies believe could address the regulator's concerns, before deciding on the next step.
U.S. company LKQ announced a deal in February to buy Quebec-based Uni-Select in a roughly $2.8-billion agreement.
