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Metcash's play for controlling stake of Total Tools can proceed, Australian regulator says

( August 19, 2020, 23:54 GMT | Official Statement) -- MLex Summary: Metcash’s acquisition of a 70-percent stake in Australia’s Total Tools is set to proceed, with the country’s competition regulator announcing that it wouldn’t oppose the deal. In a statement released today, the Australian Competition & Consumer Commission said the stores owned by Metcash’s Independent Hardware Group “compete more closely with multi-category hardware stores, such as Bunnings, while Total Tools competes more closely with other tool specialists, such as Sydney Tools, as well as Bunnings.” The ACCC also found that both IHG and Total Tools would face strong competition from specialist-retail suppliers of tools and equipment.The ACCC's full statement is below; the ACCC's market definition and analysis follows: ...

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