Mergers

ACCC concerned about Carsales’ proposed acquisition of Trading Post from Telstra

The Australian Competition and Consumer Commission today released a Statement of Issues (SOI) outlining concerns with the proposed acquisition of the Trading Post and its associated assets by Carsales.com Ltd from Telstra Corporation Limited.

The SOI seeks more information on a number of competition issues which have arisen from the ACCC's review to date.

ACCC to oppose Woolworths/Lowe’s proposed acquisition of G Gay & Co hardware stores

The Australian Competition and Consumer Commission today announced it will oppose the proposed acquisition by the Woolworths/Lowe’s Joint Venture (Woolworths) of an independent chain of three hardware stores owned by G Gay & Co in Ballarat, Victoria.

Woolworths has secured a site and has plans to open a Masters store in Wendouree, in the Ballarat area in 2013.

About mergers

Mergers and acquisitions can be important for the efficient functioning of the economy. However, the Competition and Consumer Act prohibits those mergers that would have the effect, or be likely to have the effect, of substantially lessening competition in a market.

Fees & forms

Your application for authorisation or notification should be in a form approved by the ACCC and accompanied by the relevant fee unless a waiver is in place.

Notification

Notification is an alternative process to authorisation that is available where parties propose to engage in small business collective bargaining, exclusive dealing or resale price maintenance.

Mergers

Mergers and acquisitions are important for the efficient functioning of the economy. They allow firms to achieve efficiencies and diversify risk across a range of activities. However, the Competition and Consumer Act prohibits mergers that would have the effect, or be likely to have the effect, of substantially lessening competition in a market.

Applying for authorisation

Authorisation is a public process which commences once a valid application is lodged. The ACCC must issue a final determination in writing either granting or dismissing an application for authorisation (of non-merger conduct) within six months of receiving a valid application, unless extended.