Woolworths Limited - proposed acquisition of Danks Holdings Limited
Type of assessment
Informal Review
Reference
38593
Acquirer(s)
Woolworths Limited
Target(s)
Danks Holdings Limited
Industry
Hardware
Outcome of assessment
Not opposed subject to undertakings
Total review days *
48
Commenced public review
3rd September 2009
Date completed
11th November 2009
Market definition
Please see the attached Public Competition Assessment.
Competition analysis
Please see the attached Public Competition Assessment.
Public competition assessment
Public Competition Assessment 14th January 2010 D10+66439.pdf (143.7 KB)
Statement of issues
Statement of Issues 16th October 2009 D09+173855.pdf (80.0 KB)
Undertakings
Final s87B Undertakings 11th November 2009 D09+183043.pdf (2.3 MB)
On 2 June 2010, the ACCC consented to a variation to the s87B Undertaking given by Woolworths Limited (Woolworths) and Carboxy Pty Limited (Carboxy) (together the Parties) on 11 November 2009. The Undertaking was accepted by the ACCC in order to resolve competition concerns which would otherwise have resulted from the acquisition of Danks Holdings Limited by a joint venture between Woolworths and Lowe's Companies Inc. Carboxy is the incorporated joint venture vehicle. The purpose of the variation was to: (i) extend the operation of the Undertaking to hardware stores of any size, (ii) vary the geographic scope of the obligations from 5km to 10km, and (iii) make clear that the Undertaking applied in respect of the acquisition of hardware stores by the joint venture or any of the Parties. 2nd June 2010 D10+3621893.pdf (559.1 KB)
The ACCC will not oppose the proposed acquisition of Danks Holdings Limited by Woolworths Limited...
Issued: 11th November 2009 Release # NR 282/09
Review timeline
Date
Event
3rd September 2009
ACCC commenced review under the Merger Review Process Guidelines.
24th September 2009
Closing date for submissions from interested parties.
16th October 2009
ACCC published a Statement of Issues outlining preliminary competition concerns. Former proposed date for announcement of ACCC's findings deferred to allow for submissions relating to Statement of Issues.
23rd October 2009
Closing date for submissions relating to Statement of Issues.
11th November 2009
ACCC announced it would not oppose the proposed acquisition, subject to a court enforceable undertaking given by Woolworths and its joint venture to the ACCC.
* Total Review days = Total business days less public holidays and time during which the review was suspended.
