Brookfield Asset Management Inc - proposed acquisition of Multiplex Group

Acquirer(s)

  • Brookfield Asset Management Inc

Target(s)

  • Multiplex Group

Summary

On 12 June 2007, the Multiplex Board announced it was supporting a takeover bid from Brookfield Asset Management.

Market definition

Given the lack of any overlap, the ACCC did not need to conclusively define the relevant markets for this matter. However, this merger was assessed within the context of:
- the national market for construction services;
- regional markets for property development services; and
- the national market for property funds management and facilities management.

Competition analysis

On 28 June 2007, the ACCC formed the view that the proposed acquisition was unlikely to result in a substantial lessening of competition in the relevant markets, given that Brookfield Asset Management does not have any interests in areas that overlap with Multiplex in Australia.

Timeline

DateEvent
15/06/2007ACCC commences review under the Merger Review Process Guidelines. Market inquiries commenced.
22/06/2007Closing date for submissions from interested parties.
28/06/2007ACCC announced it would not oppose the proposed acquisition.