News Article - Saleslink Group

Court ruling leaves Metcash free to purchase Franklins

September 20, 2011

Story by: Matt Paish

Wholesale giant Metcash is free to complete its acquisition of Australian supermarket chain Franklins after the Federal Court refused an application by the Australian Competition and Consumer Commission’s (ACCC) for an injunction to prevent the acquisition taking place.

The Federal Court also granted an expedited timetable for the appeal hearing with a three day hearing scheduled for 24 October 2011.

As a result, Franklins parent company Pick n Pay can now agree with Metcash to waive the condition requiring ACCC’s approval and complete the acquisition.

To read the full story, follow this link: http://www.ausfoodnews.com.au/2011/09/20/court-ruling-leaves-metcash-free-to-purchase-franklins.html

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