By Jaime Llinares Taboada

The U.K. Competition and Markets Authority said Friday that it has decided it won't refer Thermo Fisher Scientific Inc.'s planned $17.4 billion acquisition of pharmaceutical-testing company PPD Inc. to a phase 2 investigation.

The regulator had announced a probe into the deal in October, to see if it would lead to a lessening of competition.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

12-03-21 0232ET