accc strikes again!

"SOUTH AFRICA'S Barloworld appeared closer to an unlikely victory last night when it said it was hammering out an undertaking with the Australian Competition and Consumer Commission that would allow it to acquire rival paint maker Wattyl." - "The Australian" 29/4/06

This is the same Wattyl, the Australian company that was prevented by the ACCC from taking over Taubmans several years ago on the grounds that it would create a monopoly (sure, Dulux and the rest would have closed down). Taubmans was instead bought by a South African company. So now as a result of being unable to grow within its own country Wattyl is taken over by foreign interests.