Perpetual Limited - proposed acquisition of The Trust Company Limited

Status: 
Completed
Outcome: 
Not opposed subject to undertakings on 19 September 2013
Reference number: 
51337
Industry: 
Financial Services
Commenced: 
16 May 2013
Total review days: 
80 days

Acquirer(s)

  • Perpetual Limited

Target(s)

  • The Trust Company Limited

Market definition

Please refer to the attached Public Competition Assessment.

Competition analysis

Please refer to the attached Public Competition Assessment.

Statement of issues

Document title Date
Perpetual The Trust Company - Statement of Issues - 1 August 2013 - ( PDF 283.89 KB ) 1 Aug 2013

Public competition assessment

Document title Date
Public Competition Assessment ( PDF 236.98 KB ) 3 Dec 2013

Undertakings

Document title Date
Perpetual Limited s87B Undertaking ( PDF 666.57 KB ) 18 Sep 2013

Timeline

DateEvent
16/05/2013ACCC commenced review under the Merger Process Guidelines.
07/06/2013Closing date for submissions from interested parties.
02/07/2013ACCC timeline suspended to allow Perpetual Limited to provide further information. Former proposed decision date of 11 July 2013 delayed.
15/07/2013ACCC received further information from Perpetual Limited.
01/08/2013ACCC published a Statement of Issues outlining preliminary competition concerns.
15/08/2013Closing date for submissions relating to Statement of Issues.
19/09/2013ACCC announced it would not oppose the proposed acquisition, subject to a section 87B undertaking accepted by ACCC.