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Australia regulator puts Brookfield $6.5 billion Asciano buyout in doubt
THE Australian Competition and Consumer Commission (ACCC) has put Canada's Brookfield Asset Management's US$6.5 billion takeover of Asciano Ltd in doubt over an anti-trust concerns, Reuters reports.
The deal, which would be the largest-ever purchase of an Australian firm by a Canadian company, would give Brookfield Asciano抯 rail network and train operations in Western Australian and Queensland.
"The ACCC is concerned that the vertical integration will lead to a substantial lessening of competition in related markets for the supply of above rail haulage services in (Western Australia) and Queensland," the commission's chairman Rod Sims said.
The deal, which would be the largest-ever purchase of an Australian firm by a Canadian company, would give Brookfield Asciano抯 rail network and train operations in Western Australian and Queensland.
"The ACCC is concerned that the vertical integration will lead to a substantial lessening of competition in related markets for the supply of above rail haulage services in (Western Australia) and Queensland," the commission's chairman Rod Sims said.
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