DuPont Unit's Pannar Buy Gets OK From S. African Court

Law360, New York (May 29, 2012, 8:12 PM EDT) -- A South African appeals court on Monday cleared DuPont Co. unit Pioneer Hi-Bred International Inc. to buy a majority stake in Pannar Seed (Pty) Ltd., overruling two competition agencies that had blocked the acquisition for fear it would jack up prices in South Africa's $300 million hybrid corn seed market.

The Competition Appeal Court of South Africa found earlier decisions by the country's Competition Commission and Competition Tribunal constituted “anti-merger enforcement, stifling vigorous innovative competition that brings long-term benefits to consumers.”

Pioneer and Greytown-based Pannar collectively...
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