s.50 - Market enquiries by the Commission determined that the proposed acquisition by Smorgon of ANI was likely to breach section 50 of the Act. The Commission formed the view that the proposed acquisition would substantially lessen competition in the national market for the manufacture and supply of reinforcement bar. Smorgon have undertaken to abstain from voting on the proposed Australian Standard for reinforcement bar until either:
- the expiry of the Tempcore patent; or
- release by the Commission in writing;
whichever occurs first, in order to meet the Commission's concerns about the effect of the proposed acquisition on competition, particularly in relation to the continued availability of imported reinforcement bar.
