is takeover approved yet by govt, page-3

http://www.accc.gov.au/content/index.phtml/itemId/902175/fromItemId/751046

Type of assessment Informal Review
Reference 39314
Acquirer(s)
BHP Billiton Limited
Target(s)
United Minerals Corporation NL
Industry Iron Ore
Summary
BHP Billiton proposed to acquire United Minerals Corporation NL (United Minerals).
Outcome of assessment Not opposed
Total review days * 18
Commenced public review 21st October 2009
Date completed 16th November 2009
Market definition
The ACCC considered the proposed acquisition in the context of the following markets:
- global seaborne markets for the supply of each of iron ore lump and iron ore fines (the global seaborne markets); and
- national markets for the supply of each of iron ore lump and iron ore fines (the national markets).
Competition analysis
The ACCC formed the view that the proposed acquisition was unlikely to raise competition concerns in any of the relevant markets. Factors informing this conclusion included:
- with respect to the global seaborne markets, the proposed acquisition would represent only a very small potential increase in BHP Billiton's share of supply of iron ore and there would also continue to be significant alternative suppliers of iron ore lump and fines; and
- with respect to the national markets, the proposed acquisition would not materially impact on the domestic supply of iron ore lump and iron ore fines given that the majority of Australia's iron ore production is exported and United Minerals was unlikely to be an alternative domestic supplier in Australia.
Review timeline
Date Event
21st October 2009 ACCC commenced review under the Merger Review Process Guidelines.
30th October 2009 Closing date for submissions from interested parties.
16th November 2009 ACCC announced it would not oppose the proposed acquisition.