The UK Competition and Markets Authority (CMA) clears Associated British Foods (ABF) to acquire Hovis in a deal reported to be worth £75m. The regulator finds the takeover does not raise competition concerns. According to the CMA, the effects of the merger are considered in light of what would happen if the transaction did not proceed. It concludes that the most likely alternative outcome would be ABF’s bakeries arm exiting the UK market entirely rather than continuing as a competitor. On that basis, the CMA rules that the deal is unlikely to worsen competition in bread or related product markets. Multiple outlets report the decision as an approval that allows ABF to move ahead with the acquisition. The combined businesses are expected to create one of the largest bread brands in the UK, bringing Hovis under ABF’s bakeries operations. Separate reporting referenced by the search results also notes that other major bakery-related mergers have been approved by regulators, but the CMA decision highlighted across sources is the clearance of ABF’s proposed acquisition of Hovis.