EU competition authorities are happy with deal
L'Oréal's proposed acquisition of The Body Shop has been given the go-ahead by the European Commission.

The EU's competition authorities cleared the purchase, believing that it would not affect competition or result in higher cosmetics prices.

As of yesterday, health and beauty giant L'Oréal had received acceptances from shareholders representing 94.4 per cent of the total Body Shop shares.

The deal values The Body Shop at£652 million.

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