Barratt Developments PLC (LSE:BDEV) has been given approval by the Competition and Markets Authority to complete its takeover of Redrow PLC (LSE:RDW).
The CMA said today it considers there are reasonable grounds to believe that the undertakings offered by Barratt in response to its modest initial competition concerns "might be accepted" as a remedy, which will mean it will not need to refer the deal to a deeper 'Phase 2' investigation.
Yesterday, the CMA served an "initial enforcement order" on Barratt to take effect on completion of the deal, delaying full integration until suitable undertakings are agreed upon.
Barratt said the scheme of arrangement for the deal is also expected to become effective later today.