The Australian Competition and Consumer Commission* will not oppose the acquisition by Email Ltd of Atlas Steels Ltd, ACCC Chairman, Professor Allan Fels, announced today.
"The ACCC has made extensive inquiries of competing steel distributors and end users of steel products and believes the acquisition will not substantially lessen competition.
"It has decided that the relevant market is for the distribution of special steels and that after the acquisition the merged entity would have a market share of 27.5 per cent.
"Barriers to entry into the market are not high and items manufactured and/or distributed by Atlas are available from overseas sources," he said.
"The ACCC found that the acquisition would not substantially lessen competition and will not oppose it."
"The ACCC has made extensive inquiries of competing steel distributors and end users of steel products and believes the acquisition will not substantially lessen competition.
"It has decided that the relevant market is for the distribution of special steels and that after the acquisition the merged entity would have a market share of 27.5 per cent.
"Barriers to entry into the market are not high and items manufactured and/or distributed by Atlas are available from overseas sources," he said.
"The ACCC found that the acquisition would not substantially lessen competition and will not oppose it."