News: API ACCC Says It Will Not Oppose Proposed Acquisition Of API By Wesfarmers

Feb 11 (Reuters) - Australian Competition & Consumer Commission:

• ACCC WILL NOT OPPOSE PROPOSED ACQUISITION OF AUSTRALIAN PHARMACEUTICAL INDUSTRIES BY WESFARMERS
• REVIEW PRIMARILY FOCUSED ON MARKETS FOR RETAIL SALE OF OVER--COUNTER PHARMACEUTICAL AND BEAUTY & PERSONAL CARE PRODUCTS
• INVESTIGATION SHOWED THAT THERE ARE MANY LARGE AND WELL-ESTABLISHED RETAILERS THAT WILL COMPETE STRONGLY WITH WESFARMERS
• API’S COMPETITORS WILL CONTINUE TO COMPETE STRONGLY WITH WESFARMERS AFTER THE ACQUISITION
• ALSO CONSIDERED POTENTIAL EFFECTS ON COMPETITION OF WESFARMERS OWNING BOTH PRICELINE SISTER CLUB AND 50 PER CENT OF FLYBUYS
• ACCC MAINTAINED THAT PROPOSED ACQUISITION WOULD NOT HAVE EFFECT OR LIKELY EFFECT OF SUBSTANTIALLY LESSENING COMPETITION