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Jasco Electronics, Cross Fire merger blocked in South Africa

( July 4, 2017, 15:29 GMT | Official Statement) -- MLex Summary: Jasco Electronics' planned acquisition of Cross Fire Management has been blocked by South Africa's Competition Commission. Jasco subsidiary Jasco Fire makes pipes used in fire protection systems. Cross Fire designs installs and maintains fire protection systems, for which it sources pipes from third parties. The commission thus found that the merger would mean consolidation in an already concentrated sector, and fears perpetuation of existing cartel activity and bid-rigging. Cross Fire is one of the firms implicated in the cartel and the commission believes that Jasco Fire, which has not been implicated, would be incorporated into the cartel.The statement follows....

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