The Australian Competition and Consumer Commission will not intervene in Smith & Nephew's acquisition of Beiersdorf Australia's advanced wound care business, Acting ACCC Chairman, Mr Allan Asher, said today.
"Nor will it intervene in the casting, immobilisation and bandaging joint venture between the two parties.
"After market inquiries with the companies' competitors and customers, the ACCC has concluded that the proposed transactions are unlikely to substantially lessen competition.
"In reaching its decision, the ACCC noted the high level of imports of all products in the relevant markets.
"The ACCC also found that a number of strong international competitors would remain.
"These transactions are part of a global restructuring strategy in which both companies are engaged. The ACCC has already examined Beiersdorf Australia's acquisition of Smith & Nephew's consumer first aid dressings business and Nivea distribution business".