Judges at a New Zealand High Court will rule tomorrow [Friday] on whether an overseas investment panel erred in approving plans for a US$338m takeover of grocer Woolworth’s NZ by Australia’s Foodland.

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The judicial review was sought by Foodstuffs, the leading grocer in New Zealand.


On Tuesday, Foodland announced it had agreed to buy Woolworths NZ for NZ$690m (US$338m) from Hong Kong-based Dairy Farm International Holdings Ltd after months of court and competition hurdles.


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