Santos Limited - proposed acquisition of Queensland Gas Company Limited

Acquirer(s)

  • Santos Limited

Target(s)

  • Queensland Gas Company Limited

Market definition

See detailed public competition assessment below.

Competition analysis

See detailed public competition assessment below.

Statement of issues

Document title Date

Public competition assessment

Document title Date

Undertakings

Timeline

DateEvent
05/10/2006ACCC commenced public review under the Merger Review Process Guidelines.
16/10/2006Market inquiries commenced.
26/10/2006ACCC published a Statement of Issues outlining preliminary competition concerns.
09/11/2006Closing date for submissions from interested parties.
23/11/2006ACCC requested further information from Santos. ACCC timeline suspended.
29/11/2006Proposed date for announcement of ACCC's findings delayed to allow consultation on Statement of Issues.
07/12/2006Proposed date for announcement of ACCC's findings delayed pending further information from Santos.
04/01/2007ACCC received further information from Santos. ACCC timeline recommenced.
30/01/2007Santos announces a new takeover proposal for QGC and that it will let the previous takeover proposal lapse.
31/01/2007Proposed date for announcement of ACCC's findings. In light of Santos' new proposal the ACCC announced that it would not be making a formal decision on the previous takeover proposal.
31/01/2007ACCC establishes a timeline for market inquiries in relation to Santos' new proposal.
13/02/2007Closing date for submissions from interested parties in relation to the new proposal. Submissions must be received by 9:00 a.m.
20/02/2007ACCC announced its decision to oppose the proposed acquisition.