(Reuters) – UK homebuilder Barratt said on Monday a condition by the competition regulator for its acquisition of smaller rival Redrow was waived to satisfy a legal completion this week, but the firms will remain separate until the watchdog clears the deal.
The Competition and Markets Authority (CMA) earlier this month raised concerns on the 2.52 billion pound ($3.27 billion) deal after it identified competition worries over one local area that contained four Barratt developments and a Redrow development that has fewer than 10 plots left to sell.
($1 = 0.7714 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Mrigank Dhaniwala)
