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ASF-Vuka lumber merger blocked by South African authority

( June 12, 2019, 09:51 GMT | Official Statement) -- MLex Summary: The Competition Commission of South Africa has blocked ASF Group's proposal to acquire Vuka Forestry Holdings. ASF sells building and fencing pole logs, among other products, and Vuka produces treated building and fencing poles. The commission found that the overlapping business activities don't necessarily raise competition concerns, but that the merged company might engage in foreclosure strategies against Vuka's rivals.Statement follows. ...

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