CMA launches investigation into Markerstudy acquisition of Atlanta
The Competition & Markets Authority has launched an investigation into the acquisition of Ardonagh-owned Atlanta by Markerstudy.
The £1.2bn deal was announced in September last year with Markerstudy group CEO Kevin Spencer claiming on completion it would only be £301m of gross written premium away from potentially overtaking Admiral as the UK’s largest personal lines player.
He added that Markerstudy had an agreement where it would pay Ardonagh £820m and it would take a 23% stake in the new [combined] group.
The transaction, which is to be funded by a new investment led by Pollen Street Capital and Bain Capital Special
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