Irish regulator blocks Uniphar takeover of Navi

Uniphar announced on Friday that Ireland’s Competition and Consumer Protection Commission (CCPC) had not cleared the proposed acquisition of the Irish-based pharmacy services firm Navi Group.

The AIM-traded company said that following its proposal to acquire Navi, announced on 23 December 2021, both itself and Navi had engaged “extensively” with the CCPC, and supported the commission in its review of the proposed transaction.

“However, the transaction will now no longer proceed to completion,” the board said on Friday.

“Navi has been a longstanding partner of Uniphar and both parties will continue to work closely together to support our shared customer base of independent community pharmacies.”

At 1554 GMT, shares in Uniphar were down 6.67% at 259p.

Reporting by Josh White for Sharecast.com.