[AusNOG] TPG acquires iiNet [SEC=UNCLASSIFIED]

[Anthony Moore]

Hi All,

According to the article in the ABC, http://www.abc.net.au/news/2015-03-13/tpg-to-buy-iinet-in-takeover-deal/6312910 :

-----

Thus the deal will merge two of Australia's largest internet service providers, with over 1.7 million broadband subscribers combined, and will need approval from the Australian Competition and Consumer Commission to go ahead.

"The ACCC will commence a public review after receiving a submission from the parties," the regulator said in a statement.

"The ACCC reviews mergers and acquisitions which have the potential to raise concerns under the Competition and Consumer Act 2010 (CCA).

"The CCA prohibits acquisitions that would have the effect, or be likely to have the effect, of substantially lessening competition in a market."

-----

Anthony

-----Original Message-----
From: AusNOG [mailto:ausnog-bounces at lists.ausnog.net] On Behalf Of Sam Wilson
Sent: Friday, 13 March 2015 9:55 AM
To: Chris Chaundy
Cc: ausnog at lists.ausnog.net
Subject: Re: [AusNOG] TPG acquires iiNet

From the ASX paperwork [1];

"Limited conditionality: the Scheme is subject only to limited conditionality, and is not subject to finance nor due diligence."

Ultimately, I guess that means short of ACCC it is as good as done.

1 - http://www.asx.com.au/asxpdf/20150313/pdf/42x7skx29vmnvt.pdf

On Fri, Mar 13, 2015 at 8:42 AM, Chris Chaundy <chris.chaundy at gmail.com> wrote:


	Not if the ACCC says "no".
	
	Sent from my iPhone

	On 13 Mar 2015, at 09:37, Noel Butler <noel.butler at ausics.net> wrote:
	
	

		Correct, but since the iinet board has unanimously accepted TPG's offer, its only a matter of paperwork now, so its as good as done deal.

		On 13/03/2015 08:33, Peter Lawler wrote:

			On 13/03/15 09:11, Andrew Yager wrote:

				TPG has acquired iiNet

			I think you'll find that this is a proposal and has not actually
			happened yet.
			

	

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