Ardonagh's Ross "incredibly frustrated" with CMA over Bennetts
The CEO describes the experience, which saw the deal divested following CMA interventions, as an "extraordinary waste of money" as Ardonagh publishes 2020 results.
Ardonagh chief executive officer David Ross has stated that he was “really surprised and disappointed” when the Competition and Markets’ Authority (CMA) opposed the firm’s deal to buy motorcycle broker Bennetts.
It was revealed in February 2020 that Ardonagh was set to buy Bennetts from Saga for £26m. But in September the business was forced to u-turn and confirmed it had decided to divest the broker to address concerns raised by the CMA.
According to Ross, the company had done its research
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