Australia Renews Bid To Block $225M Metcash Deal

Law360, New York (September 9, 2011, 1:58 PM EDT) -- Australia's antitrust watchdog vowed Friday to appeal a ruling refusing to block Metcash Trading Ltd.'s AU$215 million ($225 million) deal for a local grocery store chain, saying the court's logic could make it difficult to stop anti-competitive mergers in the future.

The Australian Competition and Consumer Commission said it was renewing its efforts to stop Metcash from buying the Franklins chain of grocery stores from South Africa's Pick n Pay Retailers Ltd. both because it still thought the deal would hurt independent supermarket retailers and because...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.