Law360, New York (March 09, 2012, 1:26 PM ET) -- A South African court on Friday reluctantly backed Wal-Mart Stores Inc.’s planned $2.4 billion acquisition of Massmart Holdings Ltd., saying the mega-deal could go forward on some conditions despite antitrust and labor concerns.
The decision by the Cape Town-based Competition Appeal Court affirmed the Competition Tribunal’s approval of the deal in May. Three South African government ministries and a workers' union appealed the approval ruling over concerns it failed to place stringent conditions forcing the merged company to use local suppliers.
On Friday, the court said...
Wary South African Court Backs $2.4B Wal-Mart Tie-Up
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