macquarie expects green light from accc

http://online.wsj.com/article/BT-CO-20091130-700108.html

Here is part of the story....

SYDNEY (Dow Jones)--Shares in Caltex Australia Ltd. (CTX.AU) rallied Monday on renewed hopes its A$300 million proposal to buy ExxonMobil's (XOM) Australian filling stations will get a conditional nod from the competition regulator despite earlier objections.

Shares in Australia's only listed oil refiner ended the day's trading up 6.1% at A$9.72. Macquarie Equities inspired some hope Monday by telling clients that it expects the deal to proceed. It also upgraded its recommendation on Caltex's stock to Neutral from Underperform with a A$12.00 12-month price target.

Expanding its fuels marketing business would help diversify Caltex's earnings base away from volatile refiner ...

(cant see the rest because I dont have a subscription)

SLE