The Australian Competition and Consumer Commission filed an appeal on Friday 9 September 2011 against the Federal Court’s judgment dismissing the ACCC’s application to prevent Metcash from acquiring the Franklins supermarket business.
The ACCC was given notice on Sunday 11 September by Metcash that after the expiry of five business days Metcash considers itself free to agree with Pick n Pay to waive the condition requiring ACCC approval for its proposed acquisition of the Franklins supermarket business.
Accordingly, the ACCC applied to the Court today for an interim injunction restraining the proposed acquisition in order to preserve the existing state of affairs until the appeal is heard and determined.