The ACCC today announced that it intends to oppose the proposed acquisition of ITC Timber Pty Ltd...
Issued: 25th November 2009 Release # NR 290/09
Review timeline
Date
Event
14th September 2009
ACCC commenced review under the Merger Review Process Guidelines.
25th September 2009
Closing date for submissions from interested parties.
29th September 2009
ACCC requested further information from Gunns. ACCC timeline suspended.
14th October 2009
Former proposed date for announcement of ACCC's findings, deferred to allow additional time for Gunns to respond to the ACCC's information request of 29 September 2009. ACCC received further information from Gunns. ACCC timeline recommenced.
28th 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.
3rd November 2009
ACCC requested further information from Gunns and ITC Timber. ACCC timeline suspended.
9th November 2009
ITC Timber responded to the ACCC's information request of 3 November 2009.
11th November 2009
Closing date for submissions from interested parties.
12th November 2009
Gunns provided a partial response to the ACCC's information request of 3 November 2009.
16th November 2009
Gunns provided the balance of information requested by the ACCC on 3 November 2009. ACCC timeline recommenced.
25th November 2009
ACCC announced it would oppose the proposed acquisition.
26th November 2009
Gunns submitted a revised proposal that did not include the SmartFibre wood chip joint venture asset.
27th November 2009
ACCC announced it would not oppose the revised proposed acquisition.
* Total Review days = Total business days less public holidays and time during which the review was suspended.
