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Knauf has Superglass bid blocked

MATERIALS

MINERAL and glass wool producer Knauf Insulation has had its bid to buy rival manufacturer Superglass Insulation blocked by the Competition Commission.

The Government watchdog concluded that the proposed acquisition of Stirling's Superglass by the St Helens-based producer would be detrimental to the market.

Commission investigators claimed the merged company would have a market share of more than four times that of its nearest rival in the loft insulation sector and more than three times that of its nearest rival in the blowing wool insulation market.

Competition Commission and inquiry group chairman Paul Geroski said: 'Our conclusion is that the merger would be anti-competitive and would lead to customers paying higher prices.We did consider remedies that might constrain prices, but rejected these options.'