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Wesfarmers' move on Australian Pharmaceutical Industry receives regulatory clearance

( February 10, 2022, 23:25 GMT | Official Statement) -- MLex Summary: The acquisition of Australian Pharmaceutical Industry by Wesfarmers is set to proceed, with Australia’s competition regulator announcing today that it wouldn't oppose the deal. In a statement, the Australian Competition & Consumer Commission said that its review had focused on the markets for the retail sale of over-the-counter pharmaceutical products, as well as beauty and personal-care products, and had concluded that there were many established retailers that would compete with the merged company. “We consider that API’s competitors will continue to compete strongly with Wesfarmers after the acquisition,” ACCC Commissioner Stephen Ridgeway said in today’s statement. Wesfarmers is a publicly listed conglomerate with substantial retail holdings; API owns the Priceline retail business. The full statement by the Australian Competition & Consumer Commission follows. ...

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