Brookfield Asset Management Inc - proposed acquisition of Multiplex Group
Type of assessment
Informal Review
Reference
28645
Acquirer(s)
Brookfield Asset Management Inc
Target(s)
Multiplex Group
Industry
Property development and property funds management
Summary
On 12 June 2007, the Multiplex Board announced it was supporting a takeover bid from Brookfield Asset Management.
Outcome of assessment
Not opposed
Total review days *
10
Commenced public review
15th June 2007
Date completed
28th June 2007
Market definition
Given the lack of any overlap, the ACCC did not need to conclusively define the relevant markets for this matter. However, this merger was assessed within the context of:
- the national market for construction services;
- regional markets for property development services; and
- the national market for property funds management and facilities management.
Competition analysis
On 28 June 2007, the ACCC formed the view that the proposed acquisition was unlikely to result in a substantial lessening of competition in the relevant markets, given that Brookfield Asset Management does not have any interests in areas that overlap with Multiplex in Australia.
Review timeline
Date
Event
15th June 2007
ACCC commences review under the Merger Review Process Guidelines. Market inquiries commenced.
22nd June 2007
Closing date for submissions from interested parties.
28th June 2007
ACCC announced it would not oppose the proposed acquisition.
* Total Review days = Total business days less public holidays and time during which the review was suspended.
