The Australian Competition and Consumer Commission will not intervene in Beiersdorf Australia's acquisition of Smith & Nephew's consumer first aid dressings business, including the Elastoplast brand, ACCC Chairman, Professor Allan Fels, said today.
"Nor will it intervene in Beiersdorf's acquisition of Smith & Nephew's Nivea distribution business.
"Following market inquiries with the companies' competitors and customers, the ACCC has concluded that the proposed acquisitions are unlikely to substantially lessen competition.
"In reaching its decision, the ACCC noted the countervailing power of the major pharmaceutical and grocery wholesalers, and the high level of imports of consumer first aid dressings.
"The ACCC also found that a strong competitor would remain in Johnson & Johnson.
"Both companies intend to conduct further transactions as part of a global restructure. The ACCC will examine any future acquisitions".