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Australia's Woolworths cleared to acquire PFD Food Services as regulator rejects undertaking

( June 9, 2021, 23:59 GMT | Official Statement) -- MLex Summary: Australian supermarket company Woolworths’ acquisition of privately owned food-distribution company PFD Food Services is set to proceed, with the country’s competition watchdog announcing today that it wouldn’t oppose the deal. In a statement released today, Australian Competition & Consumer Commission Chairman Rod Sims said that while his agency was satisfied that Woolworth’s acquisition of a 65 percent share in PFD wouldn’t substantially lessen competition, the watchdog had reviewed the company's proposed undertaking and found that it wouldn't be effective. "PFD makes up about 2 per cent of the overall demand from food suppliers, which was a key factor in the lack of concern from some suppliers,” Sims said.   The full statement by the ACCC follows: ...

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