AUSTRALIA: Iama, Westfarmers merger conditionally approved by ACCC
The proposed merger between the rural wholesale and merchandise companies Iama and Westfarmers has been conditionally approved by the Australian Competition & Consumer Commission (ACCC). Allan Fels, chairman of the industry watchdog, revealed the decision yesterday (8 February).
Under the terms of the proposed merger, Westfarmers will control 60% of Iama, subject to a vote by shareholders today. For full approval by the ACCC however, the companies will have to lessen competition in certain market areas, for example fertiliser distribution in Western Australia.
- 2017: three major drivers of M&A strategy
- just-food 2017 Survey - your thoughts on growth
- The food market in 2017 - consumer trends and M&A
- Food market in 2017: need-to-know US trends
- 2017 - what will shape the UK food sector?
- Premier Foods issues profit warning
- UK's Bakkavor plays down IPO "speculation"
- Ferrero insists Nutella not pulled from shelves
- Lindt sees FY sales acceleration on Europe growth
- Unilever sets packaging target