On 17 April 2013, the ACCC consented to a Variation to the section 87B Undertaking given by Nestle S. A. on behalf of itself and its subsidiaries, Nestle Australia Ltd, and Duke Holdco Pty Ltd (together referred to as Nestle) and accepted by the ACCC on 22 November 2013 (the Undertaking)(the Variation). The Undertaking was accepted by the ACCC in order to resolve competition concerns that would otherwise have resulted from the acquisition of Pfizer Nutrition, a global infant nutrition business, from Pfizer Inc. The purpose of the Variation was to:
(a). incorporate ring fencing measures in relation to information obtained by Nestle relating to a licence agreement Nestle would enter into with the Approved Purchaser; and
(b). require Nestle to take all steps to ensure that any licence agreement entered pursuant to clause 5.4(b)(i) of the Undertaking does not terminate as a result of a breach of that licence agreement by Nestle and to include a procedure for approval by the ACCC. 17th April 2013 D13+50272.pdf (433.3 KB)
The Australian Competition and Consumer Commission today announced that it would not oppose the p...
Issued: 22nd November 2012 Release # NR 244/12
24th May 2012
ACCC commenced review under the Merger Review Process Guidelines.
14th June 2012
Closing date for submissions from interested parties.
5th July 2012
ACCC requested further information from the merger parties. ACCC timeline suspended. Former proposed decision date for announcement of ACCC's findings of 12 July 2012 delayed pending receipt of information requested.
13th August 2012
ACCC received further information from the merger parties following ACCC's request for information on 5 July 2012. ACCC timeline recommenced.
22nd August 2012
ACCC timeline suspended at the request of Nestle to allow it to provide further information. Former proposed decision date of 23 August 2012 delayed.
31st August 2012
ACCC published a Statement of Issues outlining preliminary competition concerns.
14th September 2012
Closing date for submissions relating to Statement of Issues.
11th October 2012
ACCC timeline suspended to allow Nestle and the ACCC to continue negotiations on a draft s87B undertaking. Former proposed decision date of 11 October 2012 delayed.
12th October 2012
Draft s87B undertakings proffered by Nestle. ACCC commenced market inquiries.
17th October 2012
Closing date for submissions on the draft s87B undertaking from interested parties.
24th October 2012
ACCC timeline suspended at the request of Nestle to allow it to provide further information. Former proposed decision date of 25 October 2012 delayed.
16th November 2012
ACCC timeline recommenced.
22nd November 2012
87B undertaking accepted by ACCC.
22nd November 2012
ACCC announced it would not oppose the proposed acquisition.
* Total Review days = Total business days less public holidays and time during which the review was suspended.