ACCC opposes acquisition of Wattyl

摘要

The Australian Competition and Consumer Commission (ACCC) has opposed the proposed acquisition of Wattyl by South Africa's Barloworld,ACCC chairman,Graeme Samuel,said."The ACCC has formed the view,after a comprehensive investigation and inquiries among industry participants,that the proposed acquisition is likely to substantially lessen competition for the manufacture and supply of architectural and decorative paints in Australia," Samuel pointed out."Wattyl and Barloworld are the second and third largest suppliers of architectural and decorative paints in Australia,and the merged firm would account for more than half of total sales.The merged firm and Orica,which is currently the largest supplier,would together account for approximately 90% of architectural and decorative paint sales."