ACCC approves takeover bid for Dairy Farmers

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ACCC approves takeover bid for Dairy Farmers-http://www.abc.net.au/news/stori ... .htm?section=justin
Posted 35 minutes ago

A takeover bid for major dairy producer Dairy Farmers has been approved by the Australian Competition and Consumer Commission (ACCC).

The ACCC says it is satisfied the proposed acquisition by National Foods and Warrnambool Cheese and Butter Factory Company is unlikely to substantially reduce competition in the relevant markets.

Its approval is conditional on National Foods undertaking to sell off some plants to ensure that competition is maintained in the markets for certain milk products in New South Wales and South Australia.

Meanwhile, the ACCC has raised concerns about the competition implications of Italian food group Parmalat's rival offer for Dairy Farmers and is seeking further submissions on the proposal.