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Foodstuffs deal not linked to 'merger-specific' grocery-market changes, New Zealand companies say

By James Panichi ( May 16, 2024, 06:03 GMT | Insight) -- Foodstuffs North Island and Foodstuffs South Island have slammed the suggestion that their proposed merger would harm New Zealand markets for the acquisition of grocery products, telling the country’s regulator that it had failed to identify a “merger-specific change.” In a submission responding to last month’s statement of issues from the New Zealand Commerce Commission, the supermarket chains argued that for a theory of harm to be established, the regulator had to outline a tangible change linked to the transaction — something it hadn’t been able to do.Foodstuffs North Island and Foodstuffs South Island have slammed the suggestion that their proposed merger would harm New Zealand markets for the acquisition of grocery products, telling the country’s regulator that it had failed to identify a “merger-specific change.”...

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