The ACCC can authorise a proposed acquisition when it is satisfied that the statutory test has been met. Merger authorisation provides protection from legal action under section 50 of the Competition and Consumer Act.
Recent reforms to media ownership laws are likely to result in many new merger proposals across Australian media companies, and media diversity will be a fascinating issue, ACCC Chairman Rod Sims said today.
The ACCC has decided to not oppose the proposed merger between Essilor International (Essilor) and Luxottica Group S.p.A. (Luxottica).
In Australia, Essilor mainly sells wholesale finished ophthalmic lenses, used to correct visual impairments. Luxottica largely supplies wholesale prescription frames and sunglasses, including such brands as Ray-Ban, Oakley and Prada. Luxottica also has retail outlets, such as OPSM and Laubman & Pank.
The ACCC will not oppose the Borg Group’s (Borg) proposed acquisition of Carter Holt Harvey Pinepanels’ (CHH Panels) Mount Gambier and Oberon particleboard plants.
The ACCC has today issued guidelines for consultation on the new misuse of market power, concerted practices and authorisation provisions. These reforms recently passed Parliament and stem from recommendations of the Competition Policy Review.
“The ACCC will soon be able to act against concerted practices that substantially lessen competition and take action when a business with a substantial degree of market power has engaged in anti-competitive conduct,” ACCC Chairman Rod Sims said.
The Full Court of the Federal Court has today set aside the decision of the Australian Competition Tribunal to grant authorisation for Tabcorp Holdings Limited to acquire Tatts Group Limited, referring the decision back to the Tribunal for further consideration.
“The ACCC is pleased that the Full Federal Court has set aside the decision, however the reasons for the decision are not yet public,” ACCC Chairman Rod Sims said.
The Australian Competition and Consumer Commission has decided to not oppose the proposed acquisition by Tronox Limited of the titanium dioxide business of National Titanium Dioxide Company Limited (Cristal).
The Australian Competition and Consumer Commission has flagged initial concerns in relation to the proposed acquisition of OfficeMax Australia by Platinum Equity. Platinum Equity recently acquired the Australian and New Zealand businesses of Staples Inc.
The ACCC has today outlined its preliminary view that combining Staples and OfficeMax may substantially lessen competition in the supply of traditional office products such as stationery, notebooks, and copy paper to large commercial and government customers in Australia.
The ACCC has announced that it will not oppose Birketu Pty Ltd (Birketu) and Illyria Nominees Television Pty Ltd’s (Illyria) proposed joint bid to acquire Ten Network Holdings Limited (Ten).