GTCR allays CMA concerns over PR NewsWire

21st Jun 2016 15:05

(ShareCast News) - Confidential concessions offered by Gorkana owner GTCR Canyon Holdings could pave the way for the clearance of its acquisition of PR NewsWire from UBM, according to a short update from the Competition and Markets Authority on Tuesday.The regulator announced the launch of its merger enquiry on 31 May.On Monday, the CMA said that based on the information it had, it believed the merger could result in a substantial lessening of competition within the United Kingdom."The CMA considers that there are reasonable grounds for believing that the undertakings offered by GTCR, or a modified version of them, might be accepted by the CMA under the Enterprise Act 2002," the regulator said in its update on Tuesday.