Brookfield consortium - proposed acquisition of Asciano Limited

Type of assessment

Informal Review

Reference

57803

Acquirer(s)

Brookfield consortium

Target(s)

Asciano Limited

Industry

Infrastructure

Outcome of assessment

No decision

Total review days *

152

Commenced public review

6^th August 2015

Date completed

15^th March 2016

Statement of issues

Undertakings

Review timeline

Date	Event
6^th August 2015	ACCC commenced review under the Merger Process Guidelines.
4^th September 2015	Closing date for submissions from interested parties.
15^th October 2015	ACCC published a Statement of Issues outlining preliminary competition concerns.
4^th November 2015	Closing date for submissions relating to Statement of Issues.
14^th December 2015	Former proposed decision date of 17 December 2015 delayed at the request of Brookfield.
22^nd December 2015	ACCC commenced market inquiries on proposed s87B undertakings.
22^nd January 2016	Closing date for submissions relating to the proposed s87B undertakings.
5^th February 2016	Former proposed decision date of 18 February 2016 delayed to allow for provision of further information from Brookfield and consideration of revised s87B undertakings.
23^rd February 2016	Asciano announced a potential acquisition by a consortium including both Brookfield and Qube Holdings Limited. ACCC timeline suspended.
30^th March 2016	Following an announcement by Asciano that it had entered into a new binding agreement with Brookfield, Qube and others, the ACCC discontinued this review. The ACCC commenced a review of the new joint proposal to acquire Asciano on 30 March 2016.

* Total Review days = Total business days less public holidays and time during which the review was suspended.

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