Woolworths Limited and Lowe's Companies Inc (Joint Venture) - proposed acquisition of G Gay & Co hardware stores

Acquirer(s)

  • Woolworths Limited and Lowe's Companies Inc (Joint Venture)

Target(s)

  • G Gay & Co

Summary

In February 2012, Woolworths Limited informed the ACCC that Woolworths Limited and Lowe's Companies Inc through HTH Stores Pty Limited proposed to acquire from G Gay & Co all the business assets and certain liabilities associated with the businesses of Home Hardware Ballarat, Home Hardware Wendouree and Ballarat Building Suppliers. Following a public review, on 4 October 2012 the ACCC announced that it would oppose the acquisition.

Market definition

Please refer to the attached Public Competition Assessment.

Competition analysis

Please refer to the attached Public Competition Assessment.

Timeline

DateEvent
13/02/2012ACCC commenced review under the Merger Review Process Guidelines.
27/02/2012Closing date for submissions from interested parties.
09/03/2012ACCC requested further information from the merger parties. ACCC timeline suspended. Former proposed decision date for announcement of ACCC's findings of 22 March 2012 delayed.
03/05/2012ACCC received further information from the merger parties. ACCC timeline recommenced.
16/05/2012ACCC published a Statement of Issues outlining preliminary competition concerns.
01/06/2012Closing date for submissions relating to Statement of Issues.
22/06/2012ACCC requested further information from the merger parties. ACCC timeline suspended.
19/09/2012ACCC received further information from the merger parties. ACCC timeline recommenced.
04/10/2012ACCC announced it would oppose the proposed acquisition.