Australia : 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 Tribunals determination to grant conditional authorisation to Tabcorp (ASX:TAH) for the proposed acquisition of Tatts Group.
The ACCC has closely examined the Tribunals 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.
While the ACCC takes a different view from the Tribunal on the extent of the public benefits and detriments arising from the proposed merger, there is no avenue of appeal that would test the merits of the Tribunals decision.
The ACCC takes the view that the proposed merger of these two large and close competitors will lessen competition, but because they chose to apply to the Tribunal, the ACCC never reached a conclusion as to whether or not the lessening would amount to a substantial lessening of competition, Mr Sims said.
[c] 2017 Al Bawaba (Albawaba.com) Provided by SyndiGate Media Inc. ( Syndigate.info ).
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|Date:||Dec 2, 2017|
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