A £2.5bn merger between homebuilders Barratt and Redrow has got the go-ahead from regulators. Barratt initially agreed a deal to buy Redrow in February, arguing that the merger would enable them to make £90m in cost savings and drive supply chain innovation. But the Competition and Markets Authority (CMA) launched an investigation into the planned merger in March, over concerns that it could "result in a substantial lessening of competition (SLC)". On Monday (7 October), the two firms announced they had merged into one business, called Barratt Redrow after the CMA found last week that the two firms had agreed ways to "remedy, mitigate or prevent the substantial lessening of competition" within the sector. The CMA said assurances around local competition in Shropshire and Cheshire meant it would not be moving its probe into a phase two investigation, clearing the deal to proceed.