Amcor's proposed AU$50M purchase of Detmold Flexibles delayed by Australian Competition and Consumer Commission, though delay of such nature not unusual, says regulator spokesperson; ACCC seeking additional information from merger parties
January 23, 2014
(Industry Intelligence Inc.)
– Amcor Ltd.’s proposed AU$50M purchase of Detmold Flexibles Pty Ltd. has been delayed by the Australian Competition and Consumer Commission (ACCC), as the regulator is seeking additional information from both parties, Plastics News reported on Jan. 23.
A delay of this nature is not unusual and happens about one-third to one-half of the time, according to an ACCC spokesperson.
The regulator originally set a date of Jan. 30 to make a final decision on the merger. A new date has not yet been set.
ACCC is considering the proposed acquisition under s50 of the Competition and Consumer Act 2010, which prohibits mergers and acquisitions likely to substantially lessen competition in a market.
The primary source of this article is Plastics News, Detroit, on Jan. 23, 2014.