OFT clears Balfour's purchase of Mansell

The Office of Fair Trading (OFT) has cleared Balfour Beatty's £42m acquisition of Mansell.

The OFT asked for comments on the takeover in December last year. A statement issued to the City this afternoon (Thursday) said: "The OFT has decided, on the information currently available to it, not to refer the merger to the Competition Commission."

Balfour announced its takeover in November last year. Mansell has kept its name and Phillip Cleaver has continued as its chief executive.