Scoop has an Ethical Paywall
Viridian Withdraws Application To Acquire Metro Performance Glass
Viridian NZ BidCo Limited (Viridian) has formally withdrawn its application to the Commerce Commission for clearance to acquire up to 100% of the shares in Metro Performance Glass Limited (Metro) by way of a takeover offer under the Takeovers Code or scheme of arrangement under Part 15 of the Companies Act 1993.
At the time the application was withdrawn, the Commission had unresolved issues with the transaction’s potential effect on competition, although it had reached no final decision.
The Commission’s case register will be updated in due course.
Background
Viridian and Metro are involved in the processing and installation of glass across New Zealand, with plants in both Auckland and Christchurch.
We will only give clearance to a proposed merger if we are satisfied that the merger is unlikely to have the effect of substantially lessening competition in a market.
Further information explaining how the Commission assesses a merger application is available on our website.
Commerce Commission: Baseline Research Report On The State Of Competition In New Zealand
University of Auckland: Junk Food Designed To Make Us Eat More, Study Finds
Spark: New Report Sets Out Outcomes-Led Approach To Lift Rural Connectivity Using The Right Mix Of Technologies
Bill Bennett: Fixed Voice Rules Head For Deregulation
UN Department of Global Communications: United Nations Proposes New Global Dashboard To Measure Progress Beyond GDP
Banking Ombudsman Scheme: Fraud Check Delays Well Worth The Inconvenience, Says Banking Ombudsman
