The Australian Competition and Consumer Commission* has confirmed tonight that it has advised Wattyl Limited that its proposed acquisition of Taubmans was likely to substantially lessen competition in breach of the Trade Practices Act.
ACCC Chairman Professor Allan Fels said today that following extensive market inquiries the ACCC had decided the merger would remove a substantial market competitor and significantly increase market concentration. The two largest manufacturers, Wattyl/Taubmans and Dulux, would account for about 80 per cent of the total Australian paint manufacture.
Professor Fels said he was aware that Wattyl wished to hold discussions on the merger proposal with the ACCC.
"The Commission has agreed to this request."
ACCC Chairman Professor Allan Fels said today that following extensive market inquiries the ACCC had decided the merger would remove a substantial market competitor and significantly increase market concentration. The two largest manufacturers, Wattyl/Taubmans and Dulux, would account for about 80 per cent of the total Australian paint manufacture.
Professor Fels said he was aware that Wattyl wished to hold discussions on the merger proposal with the ACCC.
"The Commission has agreed to this request."