The Australian Competition and Consumer Commission will not intervene in the proposed merger of the crop protection and seeds business of Novartis Australia Pty Ltd and AstraZeneca Plc into the Swiss incorporated Syngenta AG, ACCC Chairman, Professor Allan Fels, said today.
"Although the merger combines two of the larger importers, and manufacturers, of crop protection products, market inquiries indicated that there is a high availability of substitutes and that generic manufacturers are easily able to enter the relevant markets due to the high level of imports of active ingredients.
"Following market inquiries with other suppliers of agricultural chemicals and on the basis of other information, the ACCC has concluded that the proposed merger is unlikely to substantially lessen competition in the industry.
"Whilst the European Commission cleared the merger subject to divestitures, this was not required in the Australian markets. This is because, in Australia, the merger does not raise competition concerns in the markets effected by the European divestitures".