South African Regulators OK $2.3B Wal-Mart Deal

Law360, New York (May 31, 2011, 3:14 PM EDT) -- South African antitrust regulators on Tuesday approved Wal-Mart Stores Inc.’s planned $2.3 billion acquisition of Massmart Holdings Ltd. without requiring a stipulation regarding local suppliers that had left Wal-Mart threatening to walk away from the deal.

A panel of the Competition Tribunal of South Africa said in its decision that Wal-Mart would not be allowed to terminate employees in South Africa for a period of two years, in addition to other labor and employment provisions.

"We’re pleased that the competition authorities have recognized the benefits that...
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