The UK Competition and Markets Authority (CMA) has unconditionally cleared the proposed acquisition of IMG Arena by Sportradar.
The CMA launched an official inquiry into the merger at the start of September, following a two-week consultation process that concluded at the end of July.
During this period, the CMA evaluated whether the transaction would result in a substantial lessening of competition in the United Kingdom.
Following the conclusion of the inquiry, the CMA has greenlit the merger but is yet to publish the full text of its decision.
“The receipt of the CMA’s approval represents satisfaction of a significant regulatory closing condition to the proposed transaction,” said Sportradar in an SEC filing. “As a result, the parties intend to consummate the transaction in the ordinary course, subject to the satisfaction or waiver of the remaining closing conditions contained in the agreement. Until that time, the companies will continue to operate as separate and independent entities.”
Sportradar had agreed a deal with Endeavor Group to acquire IMG Arena and its global betting rights portfolio in March.
Shares in Sportradar Group AG (NASDAQ:SRAD) closed 0.60 per cent lower at $26.42 per share in New York Friday.