The UK’s Competition & Markets Authority has now published the full text of their decision in not challenging Penguin Random House‘s pending acquisition of Simon & Schuster. The answer is as we indicated from the start: S&S UK, with sales of only about £40 million, is just too small to make a meaningful difference. There is some nuance in how the CMA approached the decision that could interest people trying to anticipate how the Department of Justice will view the deal. The CMA writes that market share “estimates included in the parties’ internal documents for the United States” show PRH […]
