Kingfisher buys Castorama to create DIY superpower

The UK retailer Kingfisher has had its Euro5.1billion bid for the rest of Castorama, the French DIY group, accepted by shareholders. It follows a decision that the bid was "fair" by an independent bank assessor, Rothchilds. Kingfisher may now purchase the 44.5 per cent share of Castorama Dubois Investissements that it doesn’t already own. According to reports, competition hurdles will be cleared soon. The deal is being looked at by the European Commission.

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