The U.K. Competition and Markets Authority (CMA), the country’s antitrust regulator, approved Danone’s proposed $1.2 billion acquisition of Huel. The watchdog had opened an initial merger probe to assess whether the transaction could lessen competition in the U.K., but said information currently available did not justify referring the deal to a more in-depth Phase 2 investigation. Danone, the French food company behind Activia yogurt and Evian water, agreed earlier this year to buy Huel, a British supplier of plant-based food powders and meal-replacement drinks. Danone shares, identified as BN, were up 0.31%.