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Amid a sea of red flags, New Zealand's Foodstuffs deal appeared doomed

By Saloni Sinha ( October 25, 2024, 04:26 GMT | Comment) -- The New Zealand Commerce Commission’s decision to reject the merger of Foodstuffs North Island and Foodstuffs South Island was not a shocker considering the warning signs along the way. With the concentrated supermarket sector, the regulator's concerns about a potential increase in buyer power and possible price collusion with Woolworths were just the final nail in the coffin. Add to that the concerns over the two Foodstuffs already cozying up to each other and the outcome was probably a predictable one.The news this week was big, but not that shocking — not even to the companies involved. The merger of New Zealand’s two largest grocery retailers, Foodstuffs North Island and Foodstuffs South Island, was on the rocks and now there was a 223-page document to explain why....

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