Aussie Watchdog Can't Block Metcash Supermarket Buy

Law360, New York (November 30, 2011, 4:11 PM EST) -- An Australian appeals court on Wednesday refused to stop Metcash Trading Ltd.'s AU$215 million (US$225 million) acquisition of a local grocery store chain, ruling that the country's antitrust watchdog had not proved that its more limited market definition should prevail.

The Full Federal Court of Australia concluded that the judge hearing the Australian Competition and Consumer Commission's bid to block Metcash from buying the Franklins chain of grocery stores from South Africa's Pick n Pay Retailers Ltd. had not committed any errors that would justify overturning...
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