CMA seeks views on Unite Group’s proposed £700m acquisition of Empiric

The Competition and Markets Authority (CMA) is seeking views on the impact of Unite Group’s agreed £723m acquisition of rival Empiric.

The CMA’s ‘invitation to comment’ which runs until the end of the month is intended to gather “initial views on the impact that the transaction could have on competition in the UK”.

It said: “The CMA has not yet launched its formal investigation into this transaction. This invitation to comment is the first part of the CMA’s information-gathering process.”

The CMA will then decide whether to open a 40-day ‘phase one’ merger inquiry which could then be followed by a longer ‘phase 2’ query if concerns about the deal remain.

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Under the deal, which was agreed last month, Unite Group would become a £10bn student accommodation giant.

Unite, which posted turnover of nearly £400m last year, is already the largest UK developer, owner and manager of student accommodation in Britain, mostly offering accommodation for first-year undergraduates. Empiric, which has a turnover of £84m, operates under the Hello Student brand, housing students in 23 UK cities.

Richard Huntingford, chair of Unite, last month said: “Acquiring Empiric’s high-quality and complementary portfolio accelerates our growth into the attractive returner student segment, enabling us to better serve students throughout their academic journey.”