Fletcher Building Limited - proposed acquisition of Crane Group Limited

Acquirer(s)

  • Fletcher Building Limited

Target(s)

  • Crane Group Limited

Summary

Fletcher Building proposes to acquire Crane by way of an off-market takeover bid.

Market definition

The ACCC considered the proposed acquisition on the basis of largely separate national markets for the supply of plastic and concrete pipes. However, the ACCC did not consider it necessary to form a definitive view regarding market definition as the proposed acquisition was unlikely to raise concerns regardless of the market definition applied.

Competition analysis

The proposed acquisition was unlikely to result in a substantial lessening of competition as Fletcher and Crane only compete to a very limited extent in relation to small diameter storm water pipeline products and several alternative suppliers of both concrete pipes and plastic pipes would continue to competitively constrain the merged firm.

Timeline

DateEvent
21/12/2010ACCC commenced review under the Merger Review Process Guidelines.
05/01/2011ACCC requested further information from the parties. ACCC timeline suspended.
17/01/2011Closing date for submissions from interested parties.
19/01/2011ACCC received further information from acquirer. ACCC timeline recommenced.
10/02/2011ACCC announced it would not oppose the proposed acquisition.