Aussies Can’t Halt Metcash’s $225M Grocery Chain Buy

Law360, New York (September 20, 2011, 12:55 PM EDT) -- An Australian court on Tuesday rejected competition regulators' bid to stop Metcash Trading Ltd.'s AU$215 million ($225 million) acquisition of a local grocery store chain while they appeal an earlier court decision allowing the deal to proceed.

The Australian Federal Court refused to grant the Australian Competition and Consumer Commission's request for an interim injunction to restrain Metcash from buying the Franklins chain of grocery stores from South Africa's Pick n Pay Retailers Ltd. while its appeal of an August ruling that dismissed the competition watchdog's...
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