Mergers

ACCC won’t oppose Zodiac and Fluidra deal

The ACCC will not oppose the proposed merger of Piscine Luxembourg Holdings (Zodiac) and Fluidra, S.A. (Fluidra).

Zodiac and Fluidra are global companies supplying residential swimming pool equipment in Australia. Combined, they would have a significant Australian market share in some products such as pool pumps, filters, water treatment, cleaners and automation systems.

However, the ACCC considered that remaining competitors would provide sufficient competitive constraint following the merger.

ACCC approves Saputo - Murray Goulburn acquisition after undertaking

The ACCC will not oppose Saputo’s proposed acquisition of Murray Goulburn’s (ASX: MGC) assets, after accepting a court-enforceable undertaking from Saputo to divest Murray Goulburn’s Koroit plant.

Murray Goulburn and Saputo, which owns Warrnambool Cheese and Butter, both acquire milk from farmers in south-west Victoria and south-east South Australia, including in areas around Warrnambool and Mt Gambier.

ACCC concerned with MYOB acquisition of Reckon assets

The ACCC has today outlined competition concerns with MYOB’s (ASX: MYO) proposed acquisition of Reckon’s Accountants Group (ASX: RKN).

MYOB and Reckon supply software used by accounting firms for tax returns, client accounting and practice operation.

The ACCC’s Statement of Issues covers a range of issues, outlining the likely impact of the consolidation.

“If MYOB acquired Reckon’s Accountants Group, it would likely be the only supplier of practice software suitable for medium to large accounting firms,” ACCC Commissioner Roger Featherston said.

ACCC will not oppose Moly-Cop’s proposed acquisition of Donhad

The ACCC has announced today that it will not oppose Moly-Cop’s proposed acquisition of Donhad.

Moly-Cop and Donhad are the only two domestic manufacturers of forged steel grinding media, which are primarily used by the mining industry to crush or grind mineral ore to extract copper, gold and iron.

After an extensive inquiry, the ACCC determined Moly-Cop would continue to face competition from suppliers of imported grinding media following the proposed acquisition.

ACCC won't oppose Bayer's proposed acquisition of Monsanto

The ACCC has announced that it will not oppose Bayer AG’s proposed acquisition of Monsanto Corporation on the basis of global divestments.

On 21 March 2018 the European Commission gave conditional approval to the proposed acquisition, subject to divestiture of major parts of Bayer’s herbicide, traits and seeds business along with a number of research and development functions and projects.

Strong concerns about Pacific National’s proposal to buy Aurizon intermodal assets

The ACCC has raised preliminary competition concerns about Pacific National’s proposed acquisitions of Aurizon’s (ASX:AZJ) Queensland intermodal freight haulage business and intermodal rail terminal at Acacia Ridge in Brisbane.

Currently, Pacific National and Aurizon are the only providers of intermodal rail linehaul services in Queensland and compete closely with each other.

ACCC will not take action in relation to Qube MCS deal

The ACCC has announced that it will not take any further action in relation to Qube Holdings Limited’s (ASX:QUB) completed acquisition of Maritime Container Services Pty Ltd (MCS).

The ACCC’s investigation focused on the supply chain for containerised freight through Port Botany, particularly the role of empty container parks in this chain. MCS controls Cooks River, a significant container park with rail sidings that is used by some of Qube’s rivals, often for regional containerised rail freight.

ACCC will not oppose Accor's acquisition of Mantra

The ACCC has today announced that it will not oppose the proposed acquisition of Mantra Group Limited (ASX: MTR) (Mantra) by AAPC Limited (Accor).

Accor’s business is mainly focused on hotel-style accommodation and its brands include Sofitel, Novotel, Mercure and ibis. Mantra’s focus is on serviced apartments, which it offers through its Peppers, Art Series, Mantra and Breakfree brands.

ACCC flags concerns about Saputo-Murray Goulburn deal

The ACCC says its concerns around the proposed acquisition of the assets of Murray Goulburn (ASX:MGC) by Saputo are solely in relation to Murray Goulburn’s Koroit dairy plant in western Victoria, in particular the impact the acquisition will have on competition for farmers’ milk in the area.

The ACCC outlined its concerns in a Statement of Issues paper today and is seeking responses from interested parties by 13 March.