Mergers

ACCC discontinues merger review of Cell Care's acquisition of Cryosite assets

The ACCC has announced that it will not make a decision on whether to grant clearance for Cell Care Australia Pty Ltd’s proposed acquisition of certain assets of Cryosite Limited (ASX: CTE), and will discontinue its public merger review.

Cell Care and Cryosite were the only two providers of private umbilical cord blood and tissue collection, processing, and storage in Australia.

ACCC to oppose BP's acquisition of Woolworths service stations

The ACCC has announced today that it intends to oppose the proposed acquisition by B P Australia Pty Ltd of Woolworths Limited’s (ASX:WOW) network of retail service station sites.

Woolworths currently operates 531 sites and has 12 sites in development. BP supplies fuel to approximately 1,400 BP-branded service stations throughout Australia, setting fuel prices at roughly 350 of them.

“We consider that BP acquiring Woolworths’ service stations will be likely to substantially lessen competition in the retail supply of fuel,” ACCC Chairman Rod Sims said.

ACCC won't oppose the proposed merger of Fox Sports and Foxtel

The ACCC has decided to not oppose the proposed merger of Fox Sports and Foxtel after finding the transaction would not substantially lessen competition.

Currently, News Corporation (News) (ASX:NWS) owns 100 per cent of Fox Sports and owns Foxtel jointly with Telstra (ASX:TLS). Under the merger, Foxtel and Fox Sports will be brought together under common ownership, with News holding 65 per cent of the merged entity. Telstra will hold the remaining 35 per cent interest. The merged entity will also enter a number of agreements with Telstra.

ACCC won't seek review of Tabcorp-Tatts determination

The ACCC has decided that it will not apply for judicial review of the Australian Competition Tribunal’s determination to grant conditional authorisation to Tabcorp (ASX:TAH) for the proposed acquisition of Tatts Group (ASX:TTS).

“The ACCC has closely examined the Tribunal’s reasons. Unlike the original decision of the Tribunal we do not consider there is any error of law that needs to be corrected. For this reason the ACCC will not be seeking further review,” ACCC Chairman Rod Sims said.

ACCC won't oppose proposed acquisition of OfficeMax by Platinum Equity

The ACCC will not oppose the proposed acquisition of OfficeMax Australia (OfficeMax) by Platinum Equity.

Platinum Equity owns Winc (formerly Staples Australia). Winc and OfficeMax both supply office products to commercial and government customers in Australia.

“Following extensive market inquiries and analysis of documents and data, the ACCC has decided not to oppose this transaction. The ACCC believes the transaction will lessen competition but doesn’t reach the threshold of causing a substantial lessening of competition,” ACCC Chairman Rod Sims said.

ACCC to delay consideration of BP's acquisition of Woolworths' service stations

At the request of BP and Woolworths (ASX: WOW), the ACCC has delayed its consideration of BP’s proposed acquisition of the Woolworths’ retail service station sites so that the ACCC can consider further information from the parties. The expected new decision date is 14 December 2017. 

“This is a significant decision for the retail petrol market in Australia. The extension to the consideration period will allow the ACCC to consider further information from the parties,” ACCC Chairman Rod Sims said.