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The Competition and Markets Authority (CMA) has initiated an inquiry into the proposed acquisition of Bakkavor Group by Greencore Group, a significant move in the UK food manufacturing sector.

The boards of British food manufacturers Greencore and Bakkavor have agreed on the terms of their long-awaited merger deal.

The deadline for Greencore's acquisition of Bakkavor has been extended after an initial agreement in principle for the £1.2 billion deal announced earlier this month.

Greencore has finalised its acquisition of Bakkavor, a significant move that will reshape the landscape of the UK convenience food market.

UK convenience food group Greencore has increased its bid for Bakkavor Group, according to reports from Bloomberg.

British food manufacturer Bakkavor has rejected two takeover bids from Ireland-headquartered convenience food producer, Greencore.