The Australian Competition and Consumer Commission (ACCC) has extended the provisional date for its announcement of its review of Saputo’s proposed $1.3 billion acquisition of Murray Goulburn’s (MG) operating assets and liabilities from February 15 to March 1, 2018.
In an announcement to the Australian Securities Exchange, MG said the former provisional date was delayed because the ACCC wanted more time to consider data and other information.
ACCC is investigating whether competition at the farmgate for milk would be reduced if the sale of MG to the Canadian dairy giant goes through.
MG said it would continue to work with the ACCC to assist in its review.
It said it still expected the sale to Saputo to be completed in the first half of this year.