The ACCC will conduct an investigation into potential competition issues arising from
Qube notified the ACCC on
The ACCC was not provided with sufficient time or information to assess the competitive impact of the transaction. The potential competition concerns which have been raised relate to the vertically integrated position that Qube will now hold in the supply chain for delivery of bulk grain to the
"Our investigation will focus on the impact of the acquisition on the supply chain for bulk grain export through the
"It is worrying when a major vertically integrated player pays
"By choosing to proceed before the ACCC had a chance to conduct its review, Qube and the former owners of the
The ACCC now invites submissions from market participants who may have concerns about the acquisition or wish to share information about the market. For more information on providing information to the ACCC, see here.
The ACCC encourages merger parties to approach the ACCC as early as possible when a merger or acquisition is contemplated which may raise competition issues, well before a merger is due to be completed, to ensure the ACCC has sufficient time to consider the matter.
Background:
Potential remedies in any legal action for a breach of section 50 of the Competition and Consumer Act by the ACCC include an order for the shares or assets acquired to be divested or for the transaction to be declared void and unwound. The ACCC can also seek penalties in respect of a breach of section 50.
Notes to editors:
As this matter is now a merger law enforcement investigation of a completed acquisition, the ACCC will not publish an indicative timeline for the investigation on the ACCC's public mergers register.
In considering the proposed acquisition, the ACCC applies the legal test set out in section 50 of the Competition and Consumer Act. In general terms, section 50 prohibits acquisitions that would have the effect, or be likely to have the effect, of substantially lessening competition in any market. Release number: 155/21ACCC Infocentre:
Use this form to make a general enquiry. Media enquiries: Media Team - 1300 138 917, media@accc.gov.au
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(C) 2021 M2 COMMUNICATIONS, source