The Australian Competition and Consumer Commission has announced that it will not oppose the proposed acquisition of the OneSteel Sheet and Coil business from Arrium Limited by BlueScope Steel Limited after accepting an undertaking from BlueScope to sell its sheet and coil processing assets in Western Australia. (accc.gov.au)
BlueScope has agreed to provide a court enforceable undertaking requiring it to sell its sheet and coil processing assets in Western Australia to an ACCC approved purchaser. (accc.gov.au)
The ACCC report highlighted the highly regional nature of competition in the sector and increased the likelihood that Murray Goulburn's potential new owners, Saputo, will have to sell a significant processing asset to gain its tick of approval. (afr.com)