The Australian Competition and Consumer Commission has applied to the Federal Court for judicial review of the Australian Competition Tribunal’s decision to grant authorisation for Tabcorp Holdings Limited (ASX:TAH) to acquire Tatts Group Limited (ASX:TTS).
The Tribunal’s reasons for its decision found that the proposed acquisition was likely to result in substantial public benefits and no material detriment.
The Australian Competition and Consumer Commission is pleased to announce that Ms Jeanne Pratt of the Canadian Competition Bureau will be acting Executive General Manager of its Merger and Authorisation Review Branch as part of a 12-month interchange.
Ms Pratt will be replacing Mr Rami Greiss, who will take on the position of Senior Deputy Commissioner, Cartels and Deceptive Marketing Practices Branch at the Canadian regulator, where Ms Pratt is currently Senior Deputy Commissioner, Mergers and Monopolistic Practices Branch.
The Australian Competition Tribunal has formally made its determination granting merger authorisation for Tabcorp to acquire Tatts and has today published its reasons for decision.
In November 2016 Tabcorp sought informal merger clearance from the ACCC to acquire Tatts.
Shortly after the ACCC released its paper seeking views on potential competition issues in March 2017, Tabcorp withdrew its application for informal clearance and instead lodged an application with the Tribunal for authorisation of its proposed acquisition of Tatts.
The Australian Competition and Consumer Commission will not oppose the proposed acquisition by Cabcharge Australia Limited (ASX:CAB) of Yellow Cabs (Queensland) Pty Ltd.
Yellow Cabs is one of the two large taxi networks in Brisbane, with a market share of approximately 50 per cent. While Cabcharge does not currently operate any taxi networks in Queensland; it does provide non-cash payment services and equipment.
The Australian Competition and Consumer Commission has announced it will not oppose the proposed acquisition of Baker Hughes Incorporated (Baker Hughes) by General Electric Company (GE).
On 6 January 2017, GE and Baker Hughes announced that the companies will establish a new listed company combining the oil and gas business of GE and the whole business of Baker Hughes. The global merger is valued at approximately US$32 billion.
The Australian Competition and Consumer Commission will not oppose the proposed merger of The Dow Chemical Company (Dow) and E.l. Du Pont de Nemours and Company (DuPont).
On 27 March 2017 the European Commission cleared the proposed merger, subject to divestiture of major parts of DuPont's global pesticide business and global research and development organisation. Separately Dow will also divest its acid co-polymers and ionomers business.
The Australian Competition and Consumer Commission has released a Statement of Issues expressing preliminary concerns about the proposed merger between APN Outdoor Group Limited (ASX: APO) and oOh!media Limited (ASX: OML).
“Many industry participants have competition concerns in relation to the merger. It will combine the two largest providers of out-of-home advertising in Australia, creating a market leader with over 50 per cent of all out-of-home advertising, and an even higher share in some segments, such as roadside billboards,” ACCC Chairman Rod Sims said.
The Australian Competition and Consumer Commission has decided to not oppose the proposed acquisition by Caltex Australia Petroleum (ASX:CTX) of a chain of Victorian service stations from Milemaker Petroleum.
Caltex is proposing to acquire 46 of Milemaker’s sites in Victoria, around 30 of which are in metropolitan Melbourne.
Milemaker operates its sites as a Caltex independent franchisee, so from the point of view of consumers, they appear to be Caltex sites. However, because Milemaker sets retail fuel prices independently of Caltex, it is an independent competitor.
The Australian Competition and Consumer Commission has issued a Statement of Issues expressing initial concerns about the proposed acquisition of InterGrain Pty Ltd by Australian Grain Technologies Pty Ltd (AGT).
The ACCC’s preliminary view is that the proposed acquisition may substantially lessen competition in relation to the breeding and development of barley seed varieties for the Australian market.
“The proposed acquisition would combine the only two significant players in the breeding and development of barley in Australia,” ACCC Commissioner Mick Keogh said.
The Australian Competition and Consumer Commission has decided not to oppose Healthe Care Australia’s proposed acquisition of Pulse Health (ASX: PHG).
Healthe Care and Pulse Health are both private hospital operators. The ACCC’s review of the proposed acquisition focused on Forster and Taree in the mid-North Coast region in NSW. Healthe Care owns the Mayo Private Hospital in Taree and Pulse Healthe operates the Forster Private Hospital.